Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 5,000 homeowners, here is one of their stories.
Contrary to popular opinion, a lot of the people who lost their homes during the recent foreclosure crisis were under the burden of extenuating circumstances other than losing their job. That was the case with this homeowner. He was disabled and could no longer work full-time. He did his best to scrap by on the income from his disability checks and part-time job, but could not manage to pay his $1,100 mortgage note any longer. By the time this homeowner retained our foreclosure defense law firm, he was already over 3 years behind on paying his Wells Fargo mortgage. He had been working with another law firm to attempt to cancel a sale date that was placed on his home, but now he was looking for a law firm who could actually change his situation, not just delay the foreclosure process.
As soon we were retained by the homeowner, our Home Retention Department began working with him to piece together a loan modification package. Simultaneously, our legal team began working with the homeowner's bank to stop his foreclosure. Our attorneys successfully delayed his foreclosure sale date in order to set a conciliation conference with Wells Fargo's lawyers for July 31, 2013. The conciliation conference would allow our lawyers and Wells Fargo's lawyers to voluntarily meet and discuss matters without going to a courtroom.
The foreclosure conciliation conference was a success. On September 25, 2013, the homeowner was granted a trial loan modification. He will be expected to pay 3 trial payments of $766.90 starting in November 2013, and will then be offered a full loan modification afterward. Our legal team has also just canceled the final foreclosure sale date and the foreclosure case has been dismissed. We look forward to seeing the final loan modification terms that will be offered to this homeowner.
Wells Fargo Trial Loan Modification Overview | |||
|---|---|---|---|
| September 2013 | Before | After | |
| Monthly Payment | $1,100.00 | $766.90 | |
| Interest Rate | 7.5% | Final Rate Pending | |
| Foreclosure | Sale Date Set, 48 months behind | Foreclosure Dismissed | |
| Benefits to Homeowner | ✓ Monthly payment reduced by 30%, foreclosure dismissed. | ||
This is another example of why it's very important to retain (hire) a foreclosure defense attorney to get you the best loan modification available. Amerihope Alliance Legal Services concentrates on giving homeowners the legal assistance they need to help them avoid foreclosure or have the best chance at a bright financial future. We have helped over 5,000 homeowners since 2008, and we're looking ahead to helping thousands more people in time to come.
