Leading Consumer and Homeowner Rights Attorneys: Protecting Families, Achieving Economic Justice
Our attorney blog allows us to keep our readers up to date with legal news, law firm announcements, current events, and other tidbits of information that you won't find anywhere else. In short, regular blog entries, we will share our thoughts and opinions on legal news and happenings related to consumer rights, consumer class action lawsuits, wrongful foreclosure cases, car and truck accidents, pedestrian and motorcycle accidents, and child accident injuries.
A new survey conducted by a consumer watchdog group raises questions about whether or not banks are following fairness-in-lending laws while administrating the government’s Home Affordable Modification Program (HAMP).
The pace of foreclosures may be slowing from 2008 and 2009, but thousands of Massachusetts homeowners are still facing the prospect of losing their homes each and every month. Nearly 4,000 Massachusetts residents received a foreclosure petition in January and February, representing roughly 2,000 homes entering foreclosure each month.
In a Congressional hearing on Thursday, the Treasury Department testified that it will be making changes to its Home Affordable Mortgage Program (HAMP) due to complaints made by consumer watchdog groups. There will be three main changes made to the HAMP program to help ensure that consumers are treated fairly by banking institutions.
A number of interest groups and watchdogs have criticized the federal government’s Home Affordable Mortgage Program (HAMP) for failing to stem the rising tide of mortgage defaults and foreclosures. The Obama administration will announce new initiatives on Friday.
The Massachusetts Attorney General announced yesterday a settlement with Countrywide Financial that may benefit homeowners in Massachusetts. Countywide Financial, which is owned by Bank of America, agreed to provide $18 million in loan modification for those with “underwater mortgages” in Massachusetts.
A recent case in Massachusetts illustrates how unsuspecting homeowners can face severe damage to their credit scores during a home-loan modification process. A Winthrop resident saw his credit score plummet after he attempted to renegotiate his home loan with Citi Mortgage through the federal Home Affordable Modification Program (HAMP).
Consumers across the country are frustrated with banking institutions that are refusing to follow the guidelines that govern the federal loan modification program, known as the Home Affordable Modification Program (HAMP). A number of homeowners across the country are filing complaints against banks that continue to follow deceptive practices during the loan modification process.
In an agreement worked out with the Commonwealth of Massachusetts, Bank of America announced today that it will put a greater emphasis on principal forgiveness when negotiating loan modifications with homeowners. The new initiative was announced in press release from Bank of America.
Massachusetts Attorney General Martha Coakley announced today a settlement with Countrywide Financial that may provide some benefits to homeowners in Massachusetts. Countrywide Financial must provide $18 million in loan modification agreements in Massachusetts, in addition to a direct payment of $4.1 million to the state government.
Many homeowners attempting to save their house from foreclosure through modification programs are turned down for no reason, or are taken advantage of by their lender. If you’ve lost your home to wrongful foreclosure, contact a Massachusetts attorney at Phillips & Garcia, P.C. 877-892-5620 to file a wrongful bank foreclosure lawsuit.
Whether you are a homeowner or a tenant, a wrongful bank foreclosure could put you and your family on the street. Contact a Massachusetts class action attorney at Phillips & Garcia, P.C. 877-892-5620 to file a wrongful bank foreclosure lawsuit.