modification Tag

loan modification standards 2017

New Loan Modification Standards to Take Effect Later This Year

Banks and mortgage servicers are expected to use new standards when providing loan modifications to homeowners with delinquent mortgages, according to a proposal from the Mortgage Bankers Association, the main industry group for mortgage banking. Under the program, homeowners’ monthly mortgage payments will be reduced by...

Appeals Court Rules in Favor of Massachusetts Homeowner

Reviewing a Massachusetts homeowner’s trial loan modification agreement with her mortgage bank, an appeals court ruled in Young v. Wells Fargo Bank, N.A. (Case no. 12-1405) that the homeowner was entitled to a permanent loan modification. The homeowner’s loan modification was offered under the federal Home...

Bank of America Headed to Trial For Wrongful Foreclosure

In a recent decision on the HAMP loan modification program, a magistrate judge of the US District Court for Massachusetts ruled that homeowners who were foreclosed on while under consideration for a loan modification may proceed with a lawsuit against Bank of America. Bank of America...

My Friend Got a 2% Loan Modification, Why Didn’t I?

My Friend Got a 2% Loan Modification, Why Didn’t I? The simple answer is that every loan modification is different – starting with the mortgage loan you had to begin with. It is likely that the terms of the original mortgage you received are different than...

Solicitations by Phone or Text… Just Say No

If someone, even an attorney, calls or sends you a text to solicit you and provides you with information about an upcoming foreclosure or seems to know more than they should about your mortgage, or makes grand promises without having all the facts, be very,...

Awesome feedback from one of our clients

We just received some awesome feedback from a client today. It hit the spot at Culik Law. We work diligently on these cases and this kind of result is the whole purpose. Thank you! "I cannot thank you enough for the stellar work you did...

Homeowner’s Victory over Bank of America

Check out this great story about a California homeowner who became fed up with Bank of America and sued them in small claims court. In a great victory against this big giant, he won a settlement of $7,595.00. More importantly, he brought to light something...

Thank You!

We just received a referral from a client we helped avoid foreclosure and who is now settled into a permanent loan modification with his bank. That makes us feel great and that someone trusts us enough to pass along our information is something we take...

Politics of the Foreclosure Crisis

Interesting slideshow in the Washington Post with a look at various leaders in Washington involved in the foreclosure mess. From Elizabeth Warren - on the side of the individual with goals like protecting consumers against predatory lending -- from credit cards to mortgages, to Timothy...