Tag Archives: Cramdown

SB 94 and its interferance with the practice

CA SB 94 on Lawyers & Loan Modifications Passes Assembly… 62-10 The California Assembly has passed Senate Bill 94, a bill that seeks to protect homeowners from loan modification scammers, but could end up having the unintended consequence of eliminating … Continue reading

Posted in 2923.5, 2923.6, 2924, bankruptcy, Cramdown, eviction, FCRA, Foreclosure, I Have a Plan, Lender Class action, lis pendence, Loan Audit, mortgage meltdown, Mortgage modification, pedatory lending, Predatory Lending, Real Estate Settlement Procedures Act, respa, stop foreclosure, tila, truth in lending, United First, usury | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 4 Comments

United First Class Action

On Saturday March 7,2009 a meeting was held for 200 plus victims of the United First equity save your house scam. At that meeting it was determined that a class action should be filed to recover the funds lost by … Continue reading

Posted in 2923.6, bankruptcy, Cramdown, eviction, Foreclosure, I Have a Plan, Loan Audit, Mortgage modification, Predatory Lending, Real Estate Settlement Procedures Act, respa, stop foreclosure, tila, truth in lending, United First | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 9 Comments

My plan for Loan Modifications i.e. Attorney loan mod

Recent Loan Modification studies have shown that a large percentage of traditional loan modifications put the borrowers more upside down than when they started. Unfortunately many loan mods are leaving people with higher monthly payments. In many loan modifcation the … Continue reading

Posted in bankruptcy, Cramdown, Foreclosure, Loan Audit, Mortgage modification, Predatory Lending, Real Estate Settlement Procedures Act, respa, stop foreclosure, tila, truth in lending | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment

2923.6 complaint

form29236complaint

Posted in Cramdown, eviction, Foreclosure, Loan Audit, Mortgage modification, Predatory Lending, stop foreclosure, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , | Leave a comment

California Cramdowns Coming 2009!

There were only 800,000 bankruptcy filings in the United States in 2007, according to the National Bankruptcy Research Center. And while there is little hard data as to how many of these involve homeowners, some evidence suggests that about half … Continue reading

Posted in bankruptcy, Cramdown, Foreclosure, Mortgage modification, Predatory Lending, Real Estate Settlement Procedures Act, respa, stop foreclosure, tila, truth in lending, Uncategorized | Tagged , , , , , , , , , , , , | 1 Comment

"California Cramdown" California Civil Code Section 2923.6

(a) The Legislature finds and declares that any duty servicers may have to maximize net present value under their pooling and servicing agreements is owed to all parties in a loan pool, not to any particular parties, and that a … Continue reading

Posted in bankruptcy, eviction, Foreclosure, Mortgage modification, Predatory Lending, Real Estate Settlement Procedures Act, respa, stop foreclosure, tila, truth in lending, Uncategorized | Tagged , , , , , , , , , , , , , , , | Leave a comment

Citi Supports Cramdowns

Cram downs are the legal tern to force the lender to accept the loan back at the present value of the house thus selling the house back to the homeowner at the present market value. Congressmen want cramdown legislation included … Continue reading

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