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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

What Can I Do to Prevent a Wrongful Bank Foreclosure?
Mar 19, 2010
March 19, 2010 - Washington, D.C. - There are many reasons for a homeowner to foreclose in this turbulent economy and it does not always have to do with the homeowner not making their mortgage payments on time.

Often, the decision rests on the lender, as many borrowers are doing what they can to save their home from foreclosure. The Home Affordable Modification Program, or HAMP, was designed to protect homeowners from losing their home if they could afford to make lower payments.

However, many lenders do not offer this option to their borrowers, or never follow through on paperwork, which can lead to wrongful bank foreclosure. This is because lenders usually lose money on modifications and many see quick foreclosure as a more economical solution.

The best way to fight this tactic is to be persistent when it comes to contacting lenders. They will probably try to get out of modifying your loan, but cannot ignore numerous phone calls, Emails, and letters that prove that a homeowner is indeed qualified and anxious to save their property. Having a foreclosure attorney on your side is another way to get the bank to sit up and take notice of what you are saying.

Of course, there are some lenders that refuse to budge on their decision, turning down homeowners who have done everything they can to get a loan modification. In this case, seeking legal help is typically the best-or only-option to avoid losing your home. With any luck, your lender will realize that bank foreclosure is no longer the easy way out.

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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Hiring An Attorney May Help Homeowners Prevent Foreclosure
Mar 18, 2010
March 18, 2010 - Washington, D.C. - The Home Affordable Modification Program, or HAMP, was created to assist homeowners in paying for their mortgage by lowering their monthly payments.

According to Housing Watch, many lenders may "play along" and act like they are interested in helping struggling homeowners save their property, but they will eventually go ahead with foreclosure; often with little, or no, warning. This is because banks claim that it is better for them to simply foreclose on a person's home than allow to a homeowner to make smaller payments.

HAMP is supposed to prevent lenders from perpetuating these types of wrongful bank foreclosure, but many borrowers still find themselves unexpectedly homeless. Because of the current high number of wrongful bank foreclosures, some borrowers have fought back by securing legal assistance in an effort to keep their lender from ignoring their pleas for assistance. Some homeowners have been able to save their property with the help of a lawyer, as they were persistent, knew their rights, and made themselves heard.

Right here in Massachusetts, homeowners are taking on such giants as Bank of America and Wells Fargo for not following through on their word. Many borrowers in California have also sued and many have been successful in keeping their homes.

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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Most Homeowners Do Not Qualify for Fed’s Loan Modification Program
Mar 18, 2010
March 18, 2010 - Washington, D.C. - Despite the government's pledge to ensure that most families can avoid foreclosure and stay in their homes by modifying their mortgages, many homeowners are finding that they do not actually qualify for the loan modification program.

Associated Press reports that President Obama announced the federal program in February 2009, stating that up to 3 to 4 million homeowners would be able to keep their homes after signing up.

More than a year later and just 170,000 homeowners successfully helped-with 1.3 million homeowners having been offered help-Obama and other proponents of the program claim that all the government can do is offer help, not guarantee it.

The federal program aims to reduce mortgage interest rates to as low as 2%, and can even extend loan terms to 40 years instead of the more traditional 30 years. These changes may be enough to help some homeowners keep paying their home loan, provided they pay the reduced loan on-time for 3 months.

Unfortunately, millions of people do not qualify for the program, or their lenders are simply not willing to work with them. Already, 90,000 people have dropped out, and banks are set to disqualify thousands more in the near future. Sadly, many struggling homeowners will continue to experience foreclosure despite the loan modification program.

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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90,000 Homeowners Lose Federal Mortgage Aid
Mar 17, 2010
March 17, 2010 - Washington, D.C. - Even as financially troubled homeowners attempt to seek federal aid to save their homes from wrongful foreclosure, they may find that banks and lenders won't cooperate in the effort to modify loans to prevent foreclosure.

The Washington Post reports that about 90,000 people have lost their mortgage assistance, even though they were enrolled in the government's foreclosure prevention program. While some homeowners did not submit their paperwork on time, others will likely lose the aid due to factors beyond their control.

For example, many homeowners have been told by lenders that they have too high of income to qualify for the plan, or make too little to be able to afford even the reduced payments. These homeowners-who are trying desperately to save their homes from foreclosure-will likely be forced into foreclosure in the end.

The federal program encourages struggling borrowers to talk to their lender and enroll in the plan for 3 months. Once the homeowner pays the reduced price for 3 months, it is supposed to become permanent, but that does not always happen.

While some banks attempt to find other assistance programs for those who do not qualify for this specific plan, many lenders simply reject upside-down homeowners with little explanation. This is where the wrongful bank foreclosure nightmare begins for homeowners who are simply trying to save their homes from being taken away.

The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your bank foreclosure case. We are committed to protecting your best interests 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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Wrongful Foreclosures Can Cause Anxiety and Depression
Mar 16, 2010
March 16, 2010 - Washington, D.C. - Perhaps you've heard the horror stories of banks and lenders who unapologetically make grievous errors, such as foreclosing on the wrong home, leaving homeowners literally out in the cold. Unfortunately, the anguish caused by a wrongful foreclosure doesn't end with temporary homelessness or property loss and damage.

The Wall Street Journal reports that some homeowners have suffered significant emotional distress as a result of wrongful bank foreclosure and the associated trauma. One borrower was barely a month behind on payments when her home was foreclosed on, though most banks do not even begin foreclosure proceedings until the borrower is behind for at least 3 months. In this borrower's case, the lender-Bank of America-acted early and wrongly.

As we've reported in a previous story, the Pittsburgh resident came home to find her door padlocked, with all the utilities cut off. Upon entering her home, she noticed that someone had put antifreeze into her toilets and sinks, and destroyed flooring and furniture. To add insult to injury, the perpetrator, who was a contractor for Bank of America, also stole her pet parrot.

After this woman's life was turned upside-down because of BOA's mistake of wrongful bank foreclosure, she had to begin taking medication to combat her associated anxiety. To make matters worse, she had to drive 80 miles to retrieve her parrot, after the bank told her that they did not know where it was (incidentally, it was in the contractor's office).

Wrongful bank foreclosure can mean serious physical and emotional health issues for the families and homeowners that are displaced and grossly inconvenienced by a lender's error. If you have suffered because of a bank's mistake, there is a good chance that other homeowners have been wronged in a similar manner.

The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your bank foreclosure class action case. We are committed to protecting your best interests 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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Lenders Make Wrongful Foreclosures Without Remorse
Mar 15, 2010
March 15, 2010 - Boston, Mass. - Not only have many banks refused to work with borrowers before foreclosing on their homes, but some are now making costly mistakes that harm consumers.

According to The Boston Globe, some banks, such as Bank of America, have recently foreclosed on the wrong homes. These errors can wreck havoc on a homeowner's life, as they are forced to fight back in court. For many, wrongful foreclosure is fraught with a variety of disasters.

There are stories of banks that have sent people to padlock the doors of the wrongfully foreclosed homes, only to also ransack the houses. Occasionally, homeowners will return home to find personal items-even beloved pets-missing from their homes with the electricity turned off and the house left in disarray.

Even if your home is in foreclosure, no homeowner deserves such treatment. And for a bank or lending organization to take such actions before verifying that it is the right house is simply unfathomable.

It appears that some lenders do not comprehend the gravity of the situation and do not immediately rectify the situation, and instead, attempt to play games with wronged homeowners and victims of wrongful foreclosure.

One woman had her pet parrot stolen from her home, and was forced to drive 80 miles to get it back from the bank officials, who at first claimed that they had no idea where it was. The woman had never missed a payment with Bank of America, yet she was still treated with a shocking level of disrespect and disregard by her lending organization.

If you feel that you have been the victim of a wrongful bank foreclosure, you have rights, which may include the grounds for a class action lawsuit! The Massachusetts home foreclosure attorneys at Phillips & Garcia will fight for your rights in your class action case. We are committed to protecting your best interests 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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Wealthy Massachusetts Communities Experience Foreclosure
Mar 12, 2010
March 12, 2010 - Dover, Mass. - While public perception suggests that home foreclosure only affects middle-class or lower-income residents, statistics say otherwise. In fact, many affluent Massachusetts neighborhoods are experiencing the problem of wrongful foreclosure.

The Boston Globe reports that some homes in Massachusetts that are worth close to $1 million are currently on auction because their owners simply cannot make the mortgage payments. In some cases, the homeowners had tried everything they could to save their homes, including a loan modification.

Not every bank or lender is willing to help a distressed homeowner, and these individuals may find themselves losing a home that they have had in their family for years.

Foreclosure petitions in Norfolk County rose by 33.5% last year. On a bright note, there were 17.4 fewer home auctions, which means that some homeowners were able to save their homes at the last minute. Unfortunately, the number of petitions is a precursor to the number of upcoming home foreclosures, which means that there are likely many more to come.

Officials claim that previous foreclosures were mostly due to banks handing out subprime loans to nearly anyone, including those who could not normally afford to buy a house. Many recent foreclosures are due to job loss or long-term illness, which is likely why people who were otherwise unaffected by the subprime loan fiasco are now losing their homes.

The Massachusetts wrongful bank foreclosure attorneys at Phillips & Garcia will fight for your rights in foreclosure class action case. We are committed to protecting your best interests 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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Officials Predict More Foreclosures On the Horizon
Mar 11, 2010
March 11, 2010 - Boston, Mass. - Despite some cautiously optimistic forecasts for the country's financial future, officials have said they believe more struggling homeowners than expected will likely succumb to foreclosure this year.

SouthCoastToday.com reports that continuingly high unemployment rates mean that many people are likely still at risk for losing their home to foreclosure. Though the number of home foreclosures did drop last year, it rose again when several lenders increased foreclosure proceedings at the close of the year.

The good news is that some experts predict that the number of foreclosures will likely not rise as high as the initial surge. Though some officials predict that the worst has passed, there are still thousands and thousands of homeowners expected to lose their homes this year to foreclosure.

It is worth noting that many foreclosures could be attributed to subprime loans and predatory lending practices by banks that sold to people who clearly could never afford the loan. It is predicted that most current and future foreclosures will be brought on by more "natural" causes, such as illness, job loss, and divorce.

It is hoped that loan modification efforts will prevent another surge of wrongful foreclosures, though the number of loans that have been modified pales in comparison to the number of homeowners who have missed recent payments, or who are meeting with lenders that are unwilling to modify their loans and help them to save their homes.

The Massachusetts wrongful bank foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure class action case. We are committed to protecting your best interests 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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Obama Proposes Plan to Prevent Foreclosures
Mar 10, 2010
March 10, 2010 - Boston, Mass. - Some politicians are hoping to reduce the growing number of Americans who are being displaced from their homes after succumbing to bank foreclosure. In particular, the hope is to cause a fundamental change in the way lending institutions and banks treat homeowners who are facing a risk of foreclosure.

DailyFinance reports President Obama has proposed a plan to ensure that lenders give every willing homeowner a chance to keep their property. Obama wants to ensure that each homeowner struggling to make their mortgage payments can enroll in the Home Affordable Modification Plan, or HAMP, before foreclosure measures are put into action.

This would prevent banks from foreclosing on a home without making an obvious effort to contact the homeowner several times. It would also be required for banks to attempt to talk to borrowers about HAMP at least 4 times via phone and at least 2 times through certified mail.

The intent is that homeowners deserve to know about the possibility of trial loan modifications, which allow a borrower to get their payment temporarily lowered. Typically, as long as the homeowner pays on-time for 3 months, they may get to stay at the lower payment, allowing them to save their home.

Some banks have been known to withhold this opportunity from homeowners who have otherwise followed protocol. If Obama's plan becomes reality, the hope is that lenders will not be allowed to pull the rug out from under homeowners who are making a concerted effort to avoid foreclosure.

The Massachusetts wrongful bank foreclosure attorneys at Phillips & Garcia will fight for your rights in your bank foreclosure class action case. We are committed to protecting your best interests 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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Two Lawsuits Filed Against Deceitful Mortgage Lenders
Mar 10, 2010
March 10, 2010 - Boston, Mass. - Two lawsuits dealing with wrongful bank foreclosure by Wells Fargo and Bank of America in Massachusetts illustrate the widespread problem of unfair foreclosures in the state.

The Charlotte Observer reports that several families that used these banks for trial modifications in an attempt to save their homes were met with resistance and unjust treatment by their lenders.

Because the trial modifications were working to prevent foreclosure for the affected families, they ultimately sought permanent modifications to their loans. Despite the fact that they filled out all the required paperwork and made their payments on time for at least 3 months, the banks have not yet granted the permanent changes to these loans.

This 3-month-trial-period is granted by the Home Affordable Modification Plan (HAMP), but some banks and lenders have been misleading homeowners about this aspect of the process. In these cases, the lender may never make the changes permanent, or will even foreclose on families who have made the lower payments on-time for 3 months.

These cases illustrate that while some homeowners are doing everything they can to save their homes, there are banks that never intend to make their loan changes permanent. This leaves homeowners paying the mortgage on a home that they will not be able to keep, after all.

The Massachusetts wrongful bank foreclosure attorneys at Phillips & Garcia will fight for your rights in your bank foreclosure class action case. We are committed to protecting your best interests 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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