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| SOLUTIONS TO MORTGAGE PROBLEMS Most of the mortgage problems that my clients have experienced have been resolved through bankruptcy. Chapter 13 Bankruptcy allows you to cure a mortgage default over a 3 to 5 year period and immediately stops the foreclosure process. If you have become frustrated with your mortgage modification efforts, talk to me about what Chapter 13 Bankruptcy can do for you. Most of my Truth in Lending Act cases settled before trial. In a few of those cases, the client’s mortgage was completely forgiven. In ALL of the other cases, my clients accepted settlements similar to mortgage modification, with their mortgage company that provided a) extended periods with no mortgage loan payment being made, b) drastic reduction in interest rates (and a change from an adjustable rate to a fixed rate where necessary), c) substantial reductions in the principal balance due on the mortgage loan, d) dramatically reduced monthly mortgage payments and e) payment of the legal fees associated with the lawsuit being made by the borrowers’ mortgage company. Click Here for a Summary of the Cases that Did Not go to Trial Two of the Truth in Lending Act cases that I filed in the Bankruptcy Court have gone to trial. In each case the Bankruptcy Judge determined that the mortgage company violated the Truth in Lending Act. In each of these two cases the Bankruptcy Judge reduced the principal balance due on the mortgage loan, allowed a period of repayment at 0% interest and required the mortgage company to pay all of the legal fees and costs incurred by my clients to enforce their rights. |
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