Tag Archives: Borrowers

California Citibank Borrowers Nonetheless in Need to have of Mortgage Relief Despite Current Lawyer General Settlement

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Roseville, California (PRWEB) June 25, 2012

Even though Citibank has stated it will offer modifications in accordance with the recent attorney general settlement, many home owners excluded from the settlement agreement are left without relief.

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Even though settlement was reached not too long ago with the States Attorneys General, UFAN Legal Group, Pc (UFAN) continues to see significant interest in litigation against Citibank and the other significant banks participating in the settlement. In spite of the settlement, a lot of California property owners continue without having relief.

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UFAN filed its very first complaint against Citibank on February 16, 2012 in Los Angeles County Superior Court (Apostel v. Citibank, Case No. BC057629). The case targets troubles origination of loans, Citibanks alleged improper servicing of borrowers loans, and other claims primarily concerned with contract law. The case is set to be amended on July 9th, 2012 and UFAN is presently seeking new clients, similarly situated with current plaintiffs, who are left without relief.

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Current news headlines talk about the settlement in between the States Attorneys General and 5 significant banks, such as Citibank. While Citibank, by way of this settlement, agreed to a massive cash payout each to participating states and particular groups of distressed borrowers, many borrowers continue to be left with out relief. For instance, as reported by the LA Occasions in February, the settlement does not cover property owners whose mortgages are owned by government sponsored entities like Fannie Mae and Freddie Mac. Reportedly, these loans make up much more than 60% of California homeowners, and the settlement itself will only apply to about 250,000 California property owners.

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Even though the settlement precludes specific new actions by state officials against participating banks, it does not limit private lawsuits filed on behalf of property owners. UFAN continues to fight for the rights of distressed property owners who have been injured by the poor company practices of Citibank, and who have been left without having help in spite of governmental efforts.

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If you think you may have been injured by your lender, UFAN provides complementary attorney consultations to help distressed property owners in assessing possible choices for relief which includes, but not limited to, litigation and bankruptcy.

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Click here to get in touch with UFAN.

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ABOUT THE UNITED FORECLOSURE Lawyer NETWORK

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UFAN Legal Group, Pc dba United Foreclosure Attorney Network (UFAN) is a Roseville, California-based law firm offering mortgage litigation and other debt associated legal services. The dedicated attorneys and employees at UFAN work tirelessly to seek justice and fight for the rights of its clientele. For much more information contact toll free 1-866-400-4242.

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This release could constitute attorney advertisement. Kristin Crone, Esq. is the attorney accountable for this advertisement. The info in this release and on the UFAN website (ufanlaw.com) is for basic details purposes only. Nothing in this release or on the UFAN site should be taken as legal tips. Prior successes are no guarantee of future overall performance. Litigation is inherently uncertain and final results in litigation are never assured.

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Associated Loan Modification Services Press Releases

Aurora Borrowers in California Still in Need of Mortgage Relief

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Roseville, California (PRWEB) July 03, 2012

While settlement was reached not too long ago amongst 5 key mortgage lenders and the States Attorneys General, Aurora Bank was notably absent from the agreement. The settlement will demand participating banks to offer modifications to eligible borrowers amongst other relief, but has left numerous borrowers with non-participating banks no relief.

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UFAN Legal Group, Pc (UFAN) continues to see significant interest in litigation against Aurora in addition to those banks that have settled with the Attorneys Basic.

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UFAN filed its complaint against Aurora on October 25, 2011 in Sacramento County Superior Court (case quantity 34-2011-00112919), which is now in Federal Court. The case targets troubles associated to loan origination, Auroras alleged improper servicing of borrowers loans, wrongful foreclosure and other claims mainly involving principals of contract law. UFAN continues to accept new clients, similarly situated with existing plaintiffs, for litigation.

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Recent news headlines go over the settlement amongst the States Attorneys General and 5 significant banks. While the banks, via this settlement, agreed to a big cash payout each to participating states and specific groups of distressed borrowers, several borrowers continue to be left with out relief.

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Aurora is not bound by this settlement despite the fact it is alleged to have the very same fraudulent conduct as participating banks. UFAN continues to fight for the rights of distressed property owners who have been injured by the poor organization practices of Aurora, and who have been left with no assistance.

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If you think you might have been injured by your lender, UFAN gives complementary attorney consultations to help distressed home owners in assessing attainable possibilities for relief such as, but not limited to, litigation and bankruptcy.

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Click right here to get in touch with UFAN.

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ABOUT THE UNITED FORECLOSURE Lawyer NETWORK

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UFAN Legal Group, Computer dba United Foreclosure Lawyer Network (UFAN) is a Roseville, California-primarily based law firm supplying mortgage litigation and other debt associated legal services. The dedicated attorneys and employees at UFAN perform tirelessly to seek justice and fight for the rights of its consumers. For a lot more data get in touch with toll totally free 1-866-400-4242.

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This release might constitute lawyer advertisement. Kristin Crone, Esq. is the attorney accountable for this advertisement. The data in this release and on the UFAN website (ufanlaw.com) is for general data purposes only. Practically nothing in this release or on the UFAN website should be taken as legal suggestions. Prior successes are no guarantee of future efficiency. Litigation is inherently uncertain and results in litigation are by no means assured.

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Peak Corporate Network Entities’ Principal, Gil Priel, Lauds CA Homeowner Bill of Rights for Requiring Lender Single Point of Speak to for Distressed Borrowers

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Woodland Hills, CA (PRWEB) July 18, 2012

Gil Priel, Co-founder, Managing Director and Principal of the Peak Corporate Network entities (http://www.peakcorp.com), a top provider of complete services for Almost everything Genuine Estate, mentioned nowadays that even though the new California Homeowner Bill of Rights Law final week signed by California Governor Jerry Brown is far from best, one certain aspect of the law requiring a lender to supply to the borrower 1 point of contact for foreclosure and/or loan modification will relieve borrowers from obtaining the run-around.

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Numerous property owners in California facing foreclosure even though searching for a loan modification have been frustrated when they would be communicating with one person from their lender and all of a sudden be told that another person should be the 1 handling documents for the loan modification.

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Starting January 1, 2013, the California Homeowner Bill of Rights will: &#13

Ban “dual-tracking” (which is when banks pursued foreclosure even though the homeowner was in search of a loan modification) &#13

Need 1 lender get in touch with person per buyer &#13

Boost penalties for lender robo-signing (which automatically approves foreclosure without having any individual reading documents) &#13

Let property owners sue lenders for violations

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The American dream of homeownership has turned into a time-drain nightmare for lenders and borrowers alike thanks to what has up until now been a somewhat murky world of hopes derailed and false promises for these attempting to keep away from foreclosure and obtain a loan modification, stated Priel.

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Priel noted that even though property owners will garner higher accountability from lenders, the law doesnt address the potential for irresponsible behavior by home owners when it comes to filing frivolous lawsuits. To some degree, frivolous lawsuits will be time-wasting and resources-draining and heightened lender charges connected with difficult frivolous lawsuits will, unfortunately, probably be passed on to customers performing business with lenders, said Priel.

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As a major authority in the real estate market, The Peak Corporate Network entities give a full array of comprehensive genuine estate solutions nationwide including brokerage solutions, mortgage financing, loan servicing, escrow services, quick sales, foreclosure processing and 1031 exchange. For a lot more data, check out http://www.peakcorp.com

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The Peak Corporate Network is a brand represents a group of connected separate legal entities, every single delivering its unique set of true estate services.

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Much more Loan Modification Services Press Releases

Wisconsin HARP Lender Reports an Improve in Refinances for Underwater Borrowers Compared to the State’s Foreclosures

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Madison, Wisconsin (PRWEB) November 14, 2012

Peoples Property Equity, Inc., a Wisconsin HARP Lender, reports that government’s Property Reasonably priced Refinance Plan (HARP) is gaining momentum and showing a optimistic trend in helping underwater home owners by providing them an alternative to foreclosure.

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According to the most current refinance report by the Federal Housing Finance Agency (FHFA), 11,357 HARP refinances were completed in Wisconsin YTD, and two,163 had been for homeowners who owed far more than 105% on their mortgage compared to their home’s value.

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When compared to a current foreclosure report by CoreLogic, a major provider of information, analytics and enterprise services, the total number of foreclosures in Wisconsin from September 2011 to 2012 is 12,752.

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The 2012 FHFA Refinance Report numbers indicate that prior to the HARP 2. updates rolling out in October 2011, several thousand borrowers who refinanced beneath the HARP System could not have had a good alternative to enhancing their economic situation.

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Increasingly enhancing marketplace conditions and sector and government policy are permitting distressed homeowners to pursue refinancing, loan modifications or brief sales rather than foreclosures,” said Anand Nallathambi, president and CEO of CoreLogic.

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Reduce mortgage payments by way of refinancing can assist underwater borrowers take benefit of record-low interest rates and extend repayment timelines.

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CLICK Here to check HARP eligibility

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John (JR) Katrichis, Branch Manager with Peoples Residence Equity, Inc., believes HARP two. is failing property owners since it isn’t reaching enough certified borrowers and most lenders are taking also long to concern approvals.

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Even though HARP revisions have made a positive effect on Wisconsin’s housing industry, Katrichis insists that even more borrowers need to be eligible to participate in HARP refinancing in order for the program to make a substantial effect on the foreclosure crisis.

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“The government can improve on HARP two. by expanding it to non-agency lenders and removing the Might 31, 2009 origination qualifier,” he mentioned. Other than failure to meet HARP suggestions, Katrichis mentioned that low credit scores are a key obstacle preventing underwater homeowners from taking full benefit of the new federal recommendations for refinancing eligibility.

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Thanks to the new HARP Refinance guidelines, Katrichis has been able to assist even more borrowers steer clear of what they believed was imminent, unavoidable foreclosure. About 75% of my company comes from home owners who have loan-to-value ratios above 125%, he stated. Ive even helped a homeowner with an LTV of 155% effectively take advantage of HARP advantages, he added.

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Unlike the competition, People’s Property Equity, Inc. offers underwater homeowners expedited service that permits them to save time on the refinancing process from start off to finish. “Our underwriters are correct right here in the very same building, so we can get loans authorized and closed faster than other lending companies,” Katrichis said.

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HARP two. Overview

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In fall 2011, The Federal Housing Finance Agency worked with the GSEs to increase access to HARP rewards for responsible borrowers. As a outcome, the following HARP revisions have been created to assist more underwater property owners:

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1) Eliminating specific danger-based costs for borrowers who refinance into shorter-term mortgages and lowering fees for other borrowers

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two) Removing the 125 percent LTV ceiling

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3) Waiving specific representations and warranties that lenders commit to in creating loans owned or guaranteed by Fannie Mae and Freddie Mac

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4) Eliminating the require for a new house appraisal where there is a reputable AVM (automated valuation model) estimate supplied by the Enterprises

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five) Extending the end date for HARP till Dec. 31, 2013 for loans initially sold to the Enterprises on or ahead of May possibly 31, 2009.

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CLICK Right here for a Fannie Mae and Freddie Mac loan lookup tool

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Fannie Mae on HARP Mortgage Rates and Refinances

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Housingwire reported that Fannie Mae is optimistic that low mortgage prices and Federal mortgage-backed securities purchases will entice buyers to take benefit of low interest rates.

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Fannie Mae also recommended that low mortgage prices will usher in a wave of refinancing activity, and the GSE predicts that total refinance originations will enhance by 20% this year. Katrichis expects interest prices to remain steady in the next three to six months. “The housing sector is the cornerstone of the economy, but sales continue to outpace equity positions in improvements,” he stated.

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About Peoples Residence Equity, Inc.

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Peoples Property Equity, Inc has emerged as a leader in helping underwater borrowers take benefit of updated House Cost-effective Refinance Program (HARP) guidelines by providing efficient refinancing approval and trusted guidance to property owners impacted by the housing crisis.

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Contact JR. Katrichis at (888) 574-6143 or on the web at http://wisconsin.harpmortgagelender.com/ for much more info about HARP loans in Wisconsin NMLS ID: 208096

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Customer Financial Protection Bureau Starts Pursuit For Option Repayment Options For Private Student Loan Borrowers

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Huntington Beach, CA (PRWEB) February 22, 2013

On 02/21/2013, the Consumer Economic Protection Bureau (CFPB) announced that it is gathering data to develop possibilities for policymakers to make repayment of private student loans more manageable for struggling borrowers. The CFPB has found that private student loan borrowers who want to pay their loans, but face higher payments, lack alternative repayment and refinance possibilities.

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Student Loan Lawyer, Christine A. Wilton has observed virtually no alternatives for private student loan borrowers and incredibly aggressive collection tactics employed by these creditors. “Numerous student loan borrowers are in very hard monetary circumstances and there is no way out,” says Christine A. Wilton. “The actions taken by the new bureau are the first step toward locating a resolution to this developing difficulty.”

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Attorney Wilton supports the Bureau’s first methods in hunting for methods that private student loan borrowers can have far more flexible repayment options and is in search of input on a range of concerns connected to repayment affordability, such as:

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Ohio HARP Mortgage Lender Sees Rising Trend of Borrowers Saving Huge Via Revamped Refinancing Program

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Columbus, OH (PRWEB) March 25, 2013

Equity Sources, Inc., an Ohio HARP mortgage lender, reports that 2012 was a landmark year for the Obama administrations Residence Reasonably priced Refinance Program (HARP). Modifications in late 2011 created the program more accessible to each lenders and borrowers attempting to fight back against recession-induced mortgage-worth declines, resulting in skyrocketing numbers of HARP-assisted and HARP-eligible borrowers. A recent USA These days article marks the quantity of HARP borrowers in 2012 at a lot more than 1.1 million, an increase by more than twofold from the earlier year. And Ohio just occurred to be among the states that saw the greatest economic rebound in terms of refinancing achievement.

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In the most recent HARP Refinance Report by the Federal Housing Finance Agency (FHFA), which covers all activity in 2012, Ohio HARP loans elevated by two,078 in December from the prior month to a total of 34,332 for the calendar year. Nationally, this put Ohio in the best ten of HARP loans per state in 2012.

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Also on a nationwide scale, there have been 1,074,754 refinances for Fannie Mae and Freddie Mac loans in 2012. The majority of these, 640,460 to be precise, came for Fannie Mae loans, which is what Equity Sources deals in.

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In related news for underwater borrowers in Ohio, data and analytics business CoreLogic released a mid-January study that reports a total of 633,211 properties with or close to negative equity out of a total of two,152,771 mortgages in the state. This signifies that with a lot more than 25 percent of Ohio refinance borrowers at or near unfavorable equity, there are a lot of people in the Buckeye state who could benefit from the enormous relief becoming presented by HARP.

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Click Here to see if you are eligible for the HARP plan.

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Homeowner awareness is the most significant obstacle, says Equity Sources President Ed Rizor. Some organizations do not use the HARP program. Homeowners get turned down for a low industry value and dont know they qualify for the HARP plan. We take the time to listen and speak to the homeowner and explain the HARP system and the positive aspects.

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An unawareness of the value of HARP is a important explanation why several eligible borrowers arent cashing in on enormous savings. Take, for instance, the $ 645 per month that one loved ones is saving by functioning with Rizor and his Ohio HARP lending group. And they arent the only ones cashing in large.

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This trend of using the now-far more-accessible services of HARP need to only continue to develop in 2013 as more underwater borrowers turn into conscious of a service that could save them from demanding mortgage situations. And considering the dramatic good results and improve in popularity of the program in 2012, Rizor and his staff are anticipating a high volume of underwater borrowers in need to have of Ohio HARP lending.

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As for newcomers to the HARP plan, Rizor guarantees that Equity will make the approach as basic as feasible. “Our objective is to offer such a higher level of consumer service that we leave each and every client a raving fan,” Rizor says. “We make the refinance approach swift and easy.”

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About HARP

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The Residence Affordable Refinance Plan was modified in October 2011 following an agreement amongst the Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac, creating it simpler for mortgage lenders to aid HARP-eligible borrowers with refinancing.

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The Property Affordable Refinance Plan (HARP) is designed to help responsible borrowers with streamline refinancing. This signifies that borrowers who have been up to date with their mortgage payments but have noticed a decline in their property value are given refinancing aid.

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According to the Obama administration, HARP will save home owners $ 250 a month on typical in mortgage payments. The administration also predicts that HARP will assist 4-5 million underwater home owners.

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These are the qualifications borrowers should fit to be eligible for HARP 2.:

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1) Their very first mortgage loan is owned or guaranteed by Fannie Mae or Freddie Mac.&#13

2) The loan was sold to Fannie Mae or Freddie Mac ahead of Might 31, 2009.&#13

3) They have to be present on their mortgage payments.&#13

4) Need to owe more than your home is worth, or is there minimal equity in your home.&#13

5) All mortgage payments made on time in the final six months.&#13