Are You Behind on Your Mortgage Payments or Facing Foreclosure? You May Have Rights
If you are among the millions of Americans facing the loss of your home because of a risky, sub-prime, or adjustable-rate mortgage, you may have rights. Some of the nation's largest mortgage banks have engaged in predatory lending tactics and saddled unknowing homeowners with confusing, complicated, and fraudulent loans they cannot afford.
An experienced loan-modification attorney from Mark & Associates, P.C. is available now to evaluate your personal financial situation and advise you of your rights. An attorney is available 24 hours a day, 7 days a week to discuss your situation. Contact us today by submitting the case inquiry form on our website or by calling 1-866-50- RIGHTS (1-866-507-4448). Don't give in to foreclosure until you know all your rights.
Bank of America Announces Massive Bailout Plan
In October 2008, Bank of America announced it was launching an $8.6 billion mortgage bailout plan to help up to 400,000 homeowners avoid losing their homes. Under the plan, borrowers who took out home mortgages with Countrywide Financial from 2004 to 2007 might qualify for lower interest rates and monthly payments. Bank of America bought Countrywide in July 2008 and unveiled the nation's largest-ever mortgage bailout plan to settle lawsuits brought against Countrywide and alleging the lender engaged in predatory lending practices.
How Can I Avoid Foreclosure?
If you are a homeowner who is unable to pay your mortgage, you may be able to renegotiate the terms of your loan with your lender, saving your home from foreclosure and staying out of bankruptcy while cutting hundreds or thousands of dollars off your monthly mortgage payment. Many banks are now willing to work with borrowers and agree to a new payment schedule or a lower interest rate.
Your mortgage lender may also have violated state and federal laws regulating such financial transactions. The Truth in Lending Act and the Real Estate Settlement Procedures Act require mortgage companies to follow strict guidelines when issuing home loans. You may be able to rescind your current loan (within the first three years of the loan) or sue your mortgage company for predatory or fraudulent lending practices.
A Loan-Adjustment Attorney Can Help
Sadly, many unethical companies have sprung up in recent years offering desperate homeowners a chance to avoid foreclosure. Many of these companies are misleading borrowers and leaving them in worse financial shape. If you are a homeowner who has fallen behind on your monthly mortgage payments and is facing losing your home to foreclosure, contact a qualified loan-modification attorney from Mark & Associates, P.C. today. You may have the option of modifying your current loan interest rate to lower your payment and save yourself from foreclosure and bankruptcy.
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