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You may think that you are alone in your legal struggle, but the truth is that people just like you find themselves in similar situations each day. In these news article summaries, read about others who are fighting for justice and what is rightfully theirs -- whether it involves consumer class action lawsuits, traffic accident injuries, personal injury cases, child injury lawsuits, or wrongful foreclosure lawsuits.

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Wrongful Bank Foreclosure

Illegal Bank Foreclosures May Be Initiated By Third Parties
Apr 01, 2010
April 1, 2010 - Washington, D.C. - Banks and lenders aren't the only ones who can play a decisive role in instituting a wrongful bank foreclosure on an unsuspecting homeowner.

According to Rismedia, uninvolved third parties may be able to record a notice of default on a home loan. Once that is done, they can file a notice of sale, present those documents at a court, and receive an unlawful detainer. In other words, even homeowners who are up-to-date on their payments may be at risk of illegal foreclosure from unknown third parties.

Unfortunately, there is no sufficient review process in place and unless the borrower puts up a fight and takes legal action, a home could be taken right out from under a homeowner who has no delinquent payments.

In an overburdened legal system, many homeowners aren't being given a fair shake, which is unfathomable, as no one should be subjected to the inconvenience and indignity of having their property taken away illegally.

It's no wonder that wrongful foreclosure is so prevalent. It is simply too easy for lenders to enact an illegal foreclosure on any borrower they choose.

The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.
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New Programs To Combat Wrongful Foreclosure in Florida
Mar 31, 2010
March 31, 2010 - Broward County, Florida - Struggling homeowners in Florida's Broward County will get an opportunity for help from a locally based foreclosure prevention program.

According to CBS4, the bank foreclosure prevention program focuses on allowing the lender and borrower to talk in a neutral setting in order to negotiate a plan that works best for everyone involved.

This ideally will reduce or prevent the instance of wrongful foreclosure that is tied to lenders and banks back-tracking on promises to homeowners or simply ignoring homeowners' requests to modify loans.

Program officials say that once a home is listed in foreclosure, a case manager from American Arbitration Association will contact the homeowner and offer credit counseling. Then, the lender and the homeowner can decide to meet to discuss a deal. The result could be reducing the interest rate, reducing principal, or allowing foreclosure. At least, in this situation, both parties will have a say in the decision.

The process is expected take up to 4 months for homeowners, and could cost about $750, to be paid by the lender.

If you haven't been given a fair shake by your home lender or bank, and you are now facing a wrongful foreclosure, you will need all the help you can get in the fight to save your property. The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.
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Federal Aid Package Aims to Prevent Home Foreclosure
Mar 30, 2010
March 30, 2010 - Washington, D.C. - Homeowners in several select states that have particularly high unemployment rates or more foreclosures than the national average may soon qualify for additional relief.

According to Charlotteobserver.com, North Carolina will receive $159 million and South Carolina will get $138 million to help cope with the foreclosure crisis. The money is part of a $600 million federal aid package that was introduced on Monday by President Obama.

Experts say that while the first wave of home foreclosures in the United States can be attributed to people purchasing more than they could afford or predatory lenders who gave subprime loans to unqualified borrowers, many of the current home foreclosures are tied to the high level of unemployment in the country.

National foreclosure statistics show that there were 2.8 million filings last year, and there will likely be more than 3.5 million foreclosures this year.

Ohio, Oregon, and Rhode Island will receive federal funds as part of this foreclosure prevention package. Another federal aid package will grant $1.5 billion to states with particularly high foreclosure rates, including California, Arizona, Florida, Nevada and Michigan.

The money from these packages will go toward groups that help find affordable housing for state residents, offer counseling to struggling homeowners, and make mortgage payments for qualified borrowers while they look for jobs.

Of course, as great as these programs sound, they don't address the national crisis of wrongful bank foreclosure, wherein banks and lenders wrongfully foreclose on homeowners' property. This can include instances in which lenders refuse to work with homeowners to lower mortgage payments, or simply foreclose on the wrong property.

The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.
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Current National Outlook on Home Foreclosures
Mar 26, 2010
March 26, 2010 - New York, N.Y. - Amid reports of wrongful bank foreclosures and lenders that refuse to assist struggling homeowners, there may be some hope in the fight to prevent foreclosure.

According to The New York Times, there were about 250,000 more foreclosure cases than usual by the fourth quarter of 2009. The good news is that, currently, there are fewer homeowners who are 1 mortgage payment behind, likely because they have signed up for federal foreclosure prevention programs.

Early in 2009, lenders seemed willing to offer principal forgiveness for those who owed much more than their property was worth, but in the fourth quarter, such modifications were reduced by half. Some lenders, such as Bank of America, are reportedly re-instating loan modifications that include a principal reduction.

Homeowners are also being given more consumer protection by the federal government. Lenders will now be required to contact borrowers who have neglected to pay their last 2 payments so that they can be enrolled in modification programs.

While it's encouraging that lenders and banks and the government are making overtures to offer assistance to troubled homeowners and to reach out to prevent foreclosure, there are still about 7 million households having trouble making their mortgage payments on time.

The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.
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Making Home Affordable Program Comes With Some Caveats
Mar 26, 2010
March 26, 2010 - Washington, D.C. - The federal government is reportedly revamping its Making Home Affordable program which was designed to save homeowners from foreclosure.

According to The Washington Post, Making Home Affordable will soon undergo changes in the hopes that it will provide foreclosure prevention help to more borrowers. Even with the changes to the program, many homeowners will still fail to qualify for the assistance and are likely to face foreclosure sometime this year.

Eligible homeowners must provide proof that they receive unemployment insurance if they do not have a job, and must also have a loan that began before January 1, 2009. You must not have missed more than 3 payments to qualify, but you are certainly permitted to apply if your property is considered "upside down."

Additionally, you must owe at least 15% more than what the house is worth. If you meet these requirements, lenders should reduce your payments for 3 to 6 months, but you must make your lower payments on-time to stay on the program.

Like many of the other programs currently in place, lenders have the ultimate decision of whether to participate and which borrowers to work with. This means that even if you appear to qualify, lower payments are not guaranteed. Additionally, be aware that participating will likely lower your credit score since your credit report will show that the entire loan was not paid off.

If you believe you have been taken advantage of by a lender who promised to lower your payments and then went ahead with foreclosure plans, you may be eligible for a wrongful foreclosure lawsuit.

The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.
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Georgia Man May Lose Home in Wrongful Bank Foreclosure
Mar 25, 2010
March 25, 2010 - Sad stories of wrongful foreclosure seem to appear almost daily in the news. A Georgia homeowner who has been making his payments on-time for years is now being foreclosed on by Wells Fargo Bank.

First Coast News reports that Tom Bloomer of Kingsford, Ga. for years has been making payments on his house to his lender, Bank of America. You can imagine his surprise when he learned that his house will be sold on April 6 because Wells Fargo has filed foreclosure proceedings against him.

Attorneys for the bank claim that the prior owner of the house, who sold it to Bloomer a few years ago, gave them a bad check that they are now going to collect on using via the home.

Bloomer bought the house in 2008 for $137,000, and claims that the sale was closed in an attorney's office and then filed in court record. Yet, somehow, years later, he is being held responsible for the bad check written by a previous homeowner.

Bloomer's family is afraid of what is to come and are unsure of whether they will be able to maintain their home. Fortunately, the wrongful bank foreclosure has been put on hold for now, since Bloomer was not given proper warning per state law. The underwriter is also putting together a defense that will hopefully allow the family to stay in the home that they have been paying for since 2008.

If you have been the victim of wrongful foreclosure, the Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.
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Exercise Caution When Considering Bank of America’s New Home Loan Plan
Mar 25, 2010
March 25, 2010 - Washington, D.C. - Bank of America, which has recently received plenty of media attention for numerous wrongful foreclosures, has announced a startling new loan modification plan.

According to Housing Watch, Bank of America's new program could reduce the mortgage principal for many homeowners who owe more than 120% of their property's current value. The stated goal is to bring home loan values down to 100% of their current value in about 5 years.

The announcement of this program, which could be considered by some to be a well-timed public relations move, comes on the heels of several wrongful foreclosure lawsuits against Bank of America.

Of course, like the controversial Home Affordable Modification Program, Bank of America would get to decide who could get a reduction in their payment, only this time it would involve principal instead of interest rates. Many believe that this tactic is the best way to go since lowering interest rates can merely delay, not prevent, foreclosure.

The program is scheduled to begin in May. As with any significant financial transaction, it's important that you exercise extreme caution if entering into Bank of America's new program. Read all paperwork before signing anything and talk to your attorney about any questions you have before you put your name on the dotted line.

The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.
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Boston Law Professors and Students Develop Alternative to Foreclosure
Mar 23, 2010
March 23, 2010 - Boston, Mass. - As more and more homeowners face bank foreclosure, it's not unusual for them to feel a sense of despair or hopelessness, particularly if they have not qualified for the Home Affordable Modification Program (HAMP) which is designed to help save their homes.

Trueslant.com reports that there is, in fact, still hope for homeowners at danger of losing their property. In fact, some homeowners who have already been foreclosed upon may be able to take action. Several Boston organizations have teamed up to purchase homes that have already been foreclosed on, in order to sell them back to the struggling homeowner at a more affordable price.

A group of professors and students from Harvard Law School have partnered with the nonprofit Boston Community Capital and housing advocacy agency City Life/Urbana Vida. They intend to purchase foreclosed homes at auction and use the money they saved to allow homeowners to purchase their homes back and make lower monthly payments on the property.

These homeowners do not have to go through the rigmarole of asking lenders to work with them through the HAMP program, only to be unfairly denied at the end of the program's 3-month-trial period.

It is yet to be seen how successful this program will be in the long-run or whether it will catch on across the country, but it's encouraging that some homeowners are being given an alternative to HAMP, which can both deny homeowners for no reason and cause a drop in credit score.

For those who are on the receiving end of a wrongful foreclosure, or have received a notice for foreclosure-even if you've never missed a mortgage payment-it's in your best interest to contact a qualified lawyer as soon as possible. The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.
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Homeowners Unaware that HAMP Drops Credit Score
Mar 22, 2010
March 22, 2010 - Washington, D.C. - Many U.S. homeowners have turned to the White House's home loan modification program to seek help avoiding home foreclosure. Unfortunately, Home Affordable Modification Program (HAMP) can have the unintended consequence of lowering your credit score as much as 100 points.

NYDailyNews.com reports that simply signing up with HAMP can drop a homeowner's credit score. Though this drop is not as significant as what a foreclosure can do to your credit score, the problem comes with the fact not everyone is aware of how HAMP can affect credit scores.

The purpose of the program is to allow homeowners to save their property from foreclosure by paying a lower monthly rate on loans for at least 3 months. If they successfully do so, lenders are supposed to make the rate permanent, but many are now refusing since they claim they lose money on modifications.

Even homeowners who are denied the long-term loan modification after making their 3 payments on time can have their credit score negatively affected. This is likely because banks often report to credit bureaus that the homeowner is having difficulty making payments, which reduces their score.

Considering that homeowners are simply trying to do the right thing while preventing wrongful bank foreclosure and may not be aware of the impact on their credit score when applying for modification, many are frustrated with the program.

If you feel like you have been lied to or mislead by your lender or bank, the Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.
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Verdict Reached in WA Wrongful Bank Foreclosure Case
Mar 19, 2010
March 19, 2010 - Seattle, Wash. - As lenders attempt to get out of modifying loans for struggling homeowners, legal help is often necessary to win a favorable outcome for borrowers. Ideally, as lenders are held accountable for wrongful bank foreclosure, they will become more willing to work with homeowners without having to resort to going to court.

The Bellingham Herald reports that Washington is home to the one of the first jury verdicts on a wrongful bank foreclosure lawsuit. In this suit, a disabled senior's house on Whidbey Island was auctioned off in February of 2008. The homeowner was late on some of her payments, but her court-appointed guardian had given instructions to Quality Loan Service Corp. to sell the home 11 days before the auction was set up. It would have been sold by March had the company followed directions.

The woman's home should have been sold for $235,000. Instead, it was auctioned off for $83,000, costing the homeowner about $150,000 in equity. The court's finding was that the company violated the state's Consumer's Protection Act by wrongfully auctioning off the home. It also breached its contract with the wronged homeowner, prompting the judge to request a $230,000 settlement.

The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.
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