what kind of attorney can help me file lawsuit for home modification

Do I need an attorney to get a mortgage modification?

7031 Koll Center Pkwy, Pleasanton, CA 94566. master:2022-04-13_09-33-18. A "loan modification" is a permanent restructuring of your mortgage loan where the lender changes one or more of the terms so that your payments are more affordable. With a modification, the lender might agree to do one or more of the following to reduce your monthly ...

Who are the lawyers for the Wells Fargo loan modification lawsuit?

Yes, it is essential to have the assistance of a mortgage attorney for a mortgage modification lawsuit. Mortgage modifications can be sensitive issues because they involve personal and financial issues. Modifications may also involve multiple issues and multiple parties. Your attorney can provide legal advice regarding your modification, represent you during …

What kind of lawyer do I need to file a lawsuit?

If you think you may be a victim of loan modification fraud, contact a mortgage modification lawyer as soon as possible. Depending on the specific circumstances of the scam, your lawyer may be able to help you recover your money or regain ownership of your home. Find a Local Mortgage Law Attorney. Alabama; Alaska; Arizona; Arkansas; California; Colorado

How can an attorney help me with my housing application?

The securities filing says that Wells Fargo discovered a “calculation error” in its automated software for calculating whether a borrower should be offered more favorable loan terms in lieu of foreclosure. Wells Fargo says the “error” affected 625 homes that were “in the foreclosure process between April 13, 2010, and October 20, 2015

What is considered a hardship for a loan modification?

Some of the most common types of hardship are: job loss, pay reduction, underemployment, declining business revenue, death of a coborrower, illness, injury, and divorce.

How many loan modifications are you allowed?

There is no legal limit on how many modification requests you can make to your lender. The rules will vary from lender to lender and on a case-by-case basis. That said, lenders are generally more willing to grant a modification if it's the first time you're asking for one.Oct 8, 2020

Does a loan modification need to be recorded?

whether the mortgage loan modification agreement will need to be recorded in the public records after it is executed, and. an address to which the executed mortgage loan modification agreement should be returned.

Can a mortgage company refuse to modify loan?

Yes, probably. In California, a law called the "Homeowner Bill of Rights" (HBOR) generally gives borrowers the right to appeal a modification denial.

Can you negotiate a loan modification offer?

A loan modification can change the principal of the loan, the interest rate, and other terms to make the loan more affordable. However, a lender must agree to the loan modification, which means borrowers must negotiate with them.Dec 20, 2019

What happens after a loan modification is approved?

After the loan modification is complete, your mortgage payment will decrease permanently. The amount you'll have to pay depends on the type of changes your lender makes to your existing mortgage loan.Dec 12, 2019

Can you modify a matured loan?

Once a loan's maturity date has passed, can a loan modification be done to extend the maturity? A: No. Once a loan has matured, you cannot make changes to the original contract, which has expired.Feb 16, 2021

What is a modification endorsement?

Mortgage Modification Endorsements This endorsement insures the insured lender that a particular recorded mortgage amendment does not affect the priority of the mortgage, except for additional matters stated in the endorsement.Aug 19, 2019

How do I appeal a mortgage modification decision?

Tip: If you've been denied a loan modification and you want to appeal the decision, contact your servicer to begin the process. Your appeal needs to be submitted within 14 days after the servicer denies your application for a loan modification.Aug 18, 2016

How long after modification can I buy a house?

Generally, conventional mortgage loan guidelines require you have 24 months of payment history on the subject property (the property you want to get a new mortgage on) since the date of the modification, or 12 months of payment history if you trying to finance the non-subject property.Apr 26, 2016

How do I appeal a mortgage modification denial?

Best practices for submitting a loan modification appealUnderstand your 30-day timeline so you don't miss your submission deadline: ... Send the appeal to the address listed in your denial letter: ... State the reasons for your appeal clearly, simply, and succinctly:More items...•Jan 7, 2022

Understanding Mortgage Modifications

Before you can figure out if you should hire an attorney to help you with a mortgage modification, you must first understand the basics about modif...

When You Should Consider Hiring An Attorney to Help With Your Mortgage Modification

Below are some situations where you should consider hiring, or at least consulting with, an attorney.

When You Might Not Need An Attorney to Help With A Mortgage Modification

The following are a few situations where you probably don’t need to hire an attorney to assist with the modification process.

What are the Legal Issues Involved in a Mortgage Modification Lawsuit?

There are certain instances where it may be necessary to file a lawsuit because of a mortgage modification dispute. A mortgage modification lawsuit typically focuses on the issue of missed mortgage payments.

What are Some Legal Remedies in Mortgage Modification Lawsuits?

Confusion regarding mortgages and modification terms are often resolved by reviewing the loan documents which were signed between a borrower and a lender. These will typically state the original terms as well as other possible changes to the original agreement.

Has COVID-19 Affected the Legal Proceedings and Processes for Mortgage Modifications?

Many mortgage lenders are offering assistance during the COVID-19 pandemic, which will vary by lender. All a borrower has to do is contact their lender and advise them of their situation. Some lenders are offering forbearance plans to borrowers affected by the pandemic.

Do I Need a Lawyer for Help with a Mortgage Modification Lawsuit?

Yes, it is essential to have the assistance of a mortgage attorney for a mortgage modification lawsuit. Mortgage modifications can be sensitive issues because they involve personal and financial issues. Modifications may also involve multiple issues and multiple parties.

What to do if you have poor credit?

People With Poor Credit: Those who have poor credit are a frequent target of underhanded brokers. If you are looking for a mortgage or for a loan modification, bring a qualified mortgage modification attorney on board to ensure you aren't duped out of a substantial amount of money.

What is mortgage modification fraud?

Mortgage modification fraud comes in many shapes and forms. Some con men simply make big promises, collect an up-front fee and then disappear. Others may try to charge for services that are available for free through the government or your lender.

Can elderly people get scammed?

Prior to engaging in any type of real estate transaction, elderly persons are advised to seek the assistance of a licensed mortgage fraud attorney. Going it alone is a surefire way to get scammed during a real estate transaction.

Can people be taken for a ride by unscrupulous lenders?

People from all walks of life can be taken for a ride by an unscrupulous lender. Here are a few groups of people who commonly attract fraudulent interest rate and real estate-related loan scenarios:

Why did Wells Fargo not comply with the mortgage law?

Wells Fargo did not comply with this law, it says, due to a software glitch that affected 870 mortgages that were in default. Ultimately, 545 homes were foreclosed on, when a mortgage modification should have been offered, according to Wells Fargo’s own disclosures.

How many homes were in foreclosure in 2018?

In November 2018, Wells Fargo revised its estimate, announcing that the miscalculation actually affected 870 homes that were going through foreclosure between March 15, 2010, and April 30, 2018. As Wells Fargo explains, two federal government programs require Wells Fargo and other lenders to offer loan modifications to keep people in their homes ...

How much did Wells give to victims of the Charlottesville shooting?

The Charlottesville Observer reports, “Although Wells has announced plans for $8 million in relief for the victims, it said it hasn’t contacted them yet or said when it will do so.”

What happens when a house is foreclosed on?

Many people lost substantial home equity value when their home was foreclosed on; others suffered adverse life events from having a poor credit rating; and others experienced significant upheaval to their personal lives, including pain and suffering.

What is Gibbs Law Group?

Gibbs Law Group is a California-based law firm committed to protecting the rights of clients nationwide who have been harmed by corporate misconduct. We represent individuals, whistleblowers, employees, and small businesses across the U.S. against the world’s largest corporations. Our award-winning lawyers have achieved landmark recoveries and over a billion dollars for our clients in high-stakes class action and individual cases involving consumer protection, data breach, digital privacy, and federal and California employment lawsuits. Our attorneys have received numerous honors for their work, including “Top Plaintiff Lawyers in California,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” “Best Lawyers in America,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”

Did Wells Fargo disclose mortgage modification?

The lawsuit also alleges that Wells Fargo knew of the error in 2015 but failed to disclose it for nearly three years. And that as a result, hundreds of borrowers suffered grave consequences of the improper denials, including wrongful foreclosures, serious damage to their credit, and other harmful effects.

Does Wells Fargo send a check for loan modification?

Wells Fargo has already sent letters and checks to many individuals who it admits were affected by the loan modification error. The letters typically say that the person was affected by the calculation error, and offers them a check in the range of $10,000 as a gesture of good will. If the person isn’t satisfied with the amount, Wells Fargo generally offers to submit to independent mediation to determine if the person should get more money. Wells Fargo doesn’t make clear that they may have an attorney present during the mediation. Mediators are generally former judges or practicing attorneys.

Bank of America Loan Modification Lawsuit

First, Bank of America has policies that prevent homeowners from filing modifications on their own. The bank only allows people who are represented by an attorney to pursue such cases. So how is this possible?

What if you get your loan modification from Bank of America?

Do you have to worry about fighting the bank in court over the terms of your loan modification? You shouldn’t. If Bank of America were to accept your claim and agree to all of the terms you’ve outlined, they would be in violation of federal law. If that sounds hard to believe, consider this.

What if you cannot afford to hire an attorney?

Don’t worry, because there are a couple of companies you can use to get the information you need to represent yourself in court. These companies charge a fee, but it is small.