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Loan Modification & Bankruptcy

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Homeowners seeking to modify their loans under the HAMP program may encounter issues with the loan modification when they file for Bankruptcy under Chapter 7 or Chapter 13. In the early days of the HAMP program I used to caution people who were still in their trial modification term to wait until it was over […]

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Foreclosures Slowing Nationwide

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Looking at the statistics for April 2011, the pace of foreclosures and trustee sale notices has slowed dramatically compared to last year. In Los Angeles the rate is down a full 17.41%. This slowing of foreclosures, however, does not necessarily mean less families are in trouble. Many still are. Rather, the slowing is likely indicative […]

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Loan Modification Law Firms Continue to Prey On Struggling Homeowners

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Two years ago another attorney and I filed the first Consumer Fraud complaint in Arizona against a California loan modification company. As a member of the California bar (as well as Arizona) I receive news from both states. California was quick to jump in and warn homeowners about the rampant loan modification scammers in the […]

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Why am I doing Chapter 13?

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This is a question I tend to get a lot from my clients who are in the middle of a Chapter 13. Most often, the question is from a client who otherwise qualified for a Chapter 7 but was intent on saving their home from foreclosure and decided to file under Chapter 13 to cure […]

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New York Times Features Cave Creek Housing Crisis

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A short piece appeared in the Business section of the Times on March 22, the subject of which was Cave Creek, Arizona.  The article, available here, is entitled “Microcosm of Housing Crisis on an Arizona Street.”  It profiles several families living on the same street in Cave Creek and their differing experiences during this housing […]

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Obama administration reports only 31,382 mortgages have been permanently modified under its program.

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Obama administration reports only 31,382 mortgages have been permanently modified under its program The title of the article says it all.

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Five Charged in Beating Loan Modification Agents

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What’s worse than losing your home to foreclosure — getting scammed out of several thousand dollars by supposed “Loan Modification Specialists” and then still losing your home. In my office, we sue loan modification agents who commit fraud (many of them have no expertise and make promises they cannot keep). The law provides a remedy […]

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Desperate Lawyers

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An interesting comment popped up to one of my previous posts.  It reads: Loan Modification advisors help you navigate through this complicated industry and its converse regulations. Watch out for unethical companies advertising to provide Loss Mitigation, Loan Modification and stop foreclosure services. Home owners should only use companies that offer 100% Guarantees or use […]

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Lenders Avoid Redoing Loans, Boston Fed Concludes

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The Federal Reserve Bank of Boston released a study July 6, 2009, which suggests that the Obama administration’s $75 billion dollar plan aimed at incenting lenders to rewrite delinquent loans is not likely to work.  An excellent discussion of the Boston Fed report appears in today’s Boston Globe (link to article).  According to one author […]

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California Bar Monitors Attorneys’ Loan Modification-Related Advertising

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As a member of the California Bar, I like to think that we are an honorable bunch of lawyers.  A recent article in the California Bar Journal illuminates an issue I have been speaking about for quite sometime.  Many of my fellow lawyers were annoyed by my preachiness and warnings not to get involved with […]

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