Life is 2011 in the United States hasn’t gotten any better within the real estate market since 2007. Many house are still foreclosure with owners unable to pay their bills for several reasons. People got stuck in horrible real estate loans deals that left them with the inability to pay them off. Another huge factor is the lack of jobs in the job market. and the lack of growth to replace them with new jobs.

You know the real estate market is in trouble when lawyers have to get heavily involved. When times are good, real estate attorneys are retained to facilitate closings. When times are bad, like now, many find themselves handling the myriad negotiations and transactions necessary with lenders to successfully complete short sales of homes. A few even have sued banks to prevent foreclosures altogether.

Foreclosure Defense Group

Mark Laskowski and Adam Ackerman of The Foreclosure Defense Group in Rosemont, on the other hand, help homeowners who choose to fight a pending foreclosure by directing them to an company-affiliated attorney who will examine their loan documents and, if warranted, help them sue the lender over violations and misrepresentations in the mortgage paperwork, which will hopefully lead to the negotiation of a new, better loan and keep them in their homes.

The Foreclosure Defense Group, on the other hand, works on behalf of those who are already in foreclosure and have found their lenders unwilling to work with them on a loan restructuring or short sale. The firm matches clients with attorneys who can fight lenders in court and work to restructure mortgage loans in favor of the borrower.

Adam Ackerman and Mark Laskowski are experienced real estate investors who understand the business and first put their knowledge to work for Adam’s father, whose home was being foreclosed upon.

“He tried all of the traditional methods of working with his lender but over six months’ time they lost his paperwork seven times and ultimately denied his request for a loan restructuring,” Ackerman said.

“We looked over the loan documents, including the income statements and 1099s, and found discrepancies. So we retained a top foreclosure defense attorney for my dad and my parents are still in their home as the case works its way through the courts,” he said.

“No one is looking for a free ride, but the bank wasn’t willing to work with them so we felt we had no other choice,” Ackerman added.

Laskowski and Ackerman estimate more than 80 percent of residential loans written since 2003 contain fraud and predatory lending violations in the form of tax returns that don’t match income statements, inflated home appraisals and other misrepresentations.

They found one instance where an underwriter misstated on a mortgage application the salary of a young woman who made $15,000 per year. They wrote her application to read she earned $15,000 a month in order to get the loan approved. That proved to be grounds for a lawsuit.

Another problem tripping up lenders is a law requiring a mortgage note — a “chain of title” documenting a loan from origination to close — to be kept with each mortgage. Since most mortgages were transferred multiple times and packaged together and sold to investors, a lack of documentation has also been grounds for lawsuits.

FDG’s attorneys have also questioned whether a loan servicer, who originally made the loan but has since sold it to another group, has the right to foreclose on anyone. The firm also has jumped on recent news about banks robo-signing affidavits — basically having a few employees sign court papers for thousands of foreclosures — claiming they have read documents for each loan and they are accurate.

“Signing those without reading them is like committing perjury,” Ackerman explained.

The easiest loans to litigate, from the homeowner’s standpoint, however, are the tricky loans involving negative amortization and adjustable rates because the paperwork was often done incorrectly, so full disclosure was not provided to homeowners and people were sucked in over their heads, he said.

“The banks have engineered the lending industry over the past several years to be able to constantly profit from the same loans,” Laskowski said. “And they aren’t used to being challenged.”

Unfortunately, most homeowners don’t realize that they can challenge the banks. So FDG has made it their business to educate homeowners in trouble.

“Approximately 300 families were still in their homes for the holidays that wouldn’t have otherwise been there because we showed them that they had legal rights,” Ackerman said.

FDG urges homeowners to take proactive, assertive steps to ensure a foreclosure is stopped for good. They use subpoenas, lawsuits, discovery and other strategies to get the bank’s attention and let them know the homeowner means business. The aim is to void the original agreement and demand new terms, such as a principle reduction and a lower interest rate.

These strategies can buy the homeowner many months of additional time in their home, so they can save money and get back on their feet. They push for a settlement that involves a new mortgage the homeowner can afford.

“We want people to understand that if they want to keep their home, they need to aggressively fight back against the bank, using an attorney,” Ackerman said.

“I can’t imagine being put out of my house,” Laskowski said. “It doesn’t need to happen.”

And restructuring someone’s loan is really also in the best interests of the lender. Statistics show banks get 48 cents on the dollar when they foreclose and sell homes as “real estate-owned” properties, Ackerman said.

“But if they write a home down to its fair market value and have someone who already wants to pay for that home, they are way ahead of the game,” he said.

The cost for an attorney’s services through FDG range from $600 to $750 per month.

“Keep in mind that the program is very affordable compared to what the homeowner has been paying in principle, interest, taxes and insurance. In my opinion, I would rather pay an attorney $750 per month to fight to keep me in my home for the next 12 to 24 months and protect my legal rights than rent an apartment for $750 per month,” Ackerman said.

For more information about FDG, call 800 395 1151 or visit www.foreclosuredefense.com.

Read more: http://www.dailyherald.com/article/20110108/entlife/701099978/#ixzz1Bb78zdxS

Recently, many lenders across the country have handled home foreclosure documents with little care.  Some lenders allowed unauthorized employees to sign documents, illegally.  Other documents have been completely overlooked, without first checking for accuracy.   If a document has inaccuracies, but is signed, judges are still able to foreclosure on the home.  This allows a home to be wrongfully foreclosed, unknowingly.  This  has led to a widespread questioning of lender practices, as well as unneeded homeowner frustration.  With this order, the court hopes to provide a greater confidence towards foreclosure related issues.

This order is forcing six lenders to prove why foreclosures should continue on homes that were involved in questionable practices.  Within 45 days, lenders will have to show that the foreclosure documents in question have been handled correctly.  The six lenders who are effected include Allied Financial, Bank of America, J.P. Morgan Chase, One West Bank FSD, Wells Fargo and Citibank.  These lenders have filed a total of 29,000 foreclosures during 2010.

If the lenders do not provide the proof needed, they could face suspension of their businesses.  Courts hope to ensure that current homes facing foreclosure are legally just.  The foreclosures in question will not continue until they are proven to be accurate.  This will help stop wrongful foreclosures in New Jersey and ensure that all current foreclosure filings are fair.  Other states have taken similar action to help combat illegal foreclosures.

Many of these foreclosures under question, have not been challenged because homeowners assume they cannot afford legal help.  Most homeowners think that nothing can be done in this situation, even if they had been making their mortgage payments.  The truth is, home foreclosure can be stopped.  There are many resources available to get the help that you need in order to save your home.

The Foreclosure Defense Program offers many resources for homeowners in need.  Homeowners can find information and current news on foreclosure related issues.  There are also guides to better understand the foreclosure process and foreclosure defense.  You can even find a local foreclosure defense attorney to help you fight your foreclosure.  If you find yourself in need of this information, get help as soon as possible.  With the right tools and knowledge you can save your home.

Home Foreclosure to Reach 100,000 in January

Lenders will be foreclosing on more homes this month due to the loss of foreclosures that occurred during the foreclosure freeze. This will lead to many more vacant homes across the United States.  As more homeowners continue to fall behind on their mortgage payments, they will likely face foreclosure.  This crisis shows that more prevention is needed in order to make an impact on the current foreclosure situation.

Many homeowners facing foreclosure do not realize that something can be done in this situation.  Instead of sitting back, and allowing your home to be taken, foreclosure can be stopped with foreclosure defense.  Foreclosure defense is the process of fighting to keep the home that is yours.  This can be achieved in many ways.

As a homeowner, you can discuss different options with your lender.  Many homeowners do not even communicate with their lender once they start falling behind on their mortgage payment.  It is very important to communicate with your lender, because they may be able to create a better payment plan that works for your needs.  Mortgage modification is also an option, which allows your entire mortgage to be changed.  This can sometimes lower payments so that they fit into your budget.  If you qualify for this service, you can avoid foreclosure altogether.

Another way to fight your foreclosure is with the help of a foreclosure defense attorney.  Foreclosure defense attorneys work with lenders in order to come to an agreement to allow homeowners to keep their home and avoid foreclosure.  These professionals know all the ins and outs of home foreclosure, and can continue to fight throughout the whole foreclosure process.  Your attorney may be able to stall your foreclosure or even stop it from occurring ever.

There are many resources available to homeowners who are in need.  It is important to get help as soon as possible.  The Foreclosure Defense Program is a great resource for homeowners.  This website has news updates, information on foreclosure related laws, guides to finding the best foreclosure defense attorney, and much more.  If you are looking for relevant information to help stop your home foreclosure, this is a great resource.  Get the help that you need.  Don’t sit back and let your home be taken from you!

It is estimated that over 80 percent of all residential loans since 2003 contain fraud and predatory lending violations. Adam Ackerman, who co-founded FDG with business partner Mark Laskowski, said this is an increasing fear among lenders, as evidenced by the fact that some major banking institutions like JP Morgan Chase, Bank of America and GMAC Mortgage are now halting thousands of foreclosures because they realize they may have issues with the way they filed the foreclosure, which can include falsifying documents, fraud and or predatory lending and a long list of other state and federal violations.

But instead of waiting and hoping for the lender to halt—and inevitably recommence—the foreclosure process on their own, FDG recommends the homeowner take proactive, assertive steps to ensure that a foreclosure is stopped for good or prevented from starting altogether.

Unlike loan modification programs offered through private or government entities that typically do not work, FDG attorneys take aggressive legal strategies to halt the foreclosure process and rework the loan terms. They use subpoenas, lawsuits, discovery and many more strategies to get the bank’s attention and let them know the homeowner means business—which, if litigated correctly, can result in reduced principle reduction, lower interest rates and even a completely new loan with terms that benefit the borrower.

“Only about 8 percent of all loan modification applicants get approved nationwide anyway, and of these less than 4 percent experience successful modifications,” said Laskowski. “Foreclosure defense attorneys believe in voiding the original agreement and demanding new terms.”

Ackerman and Laskowski were inspired to launch FDG after foreclosure proceedings began against Adam’s father Jack, who found himself unemployed three years back. Laskowski and Ackerman began researching Jack’s legal recourse and won a series of small victories against the mortgage lender until it reached a point where enlisting a team of lawyers was essential.

Ackerman and Laskowski realized that if suing the bank worked for Jack, it was bound to work for other distressed homeowners in the Chicagoland area. A new venture that eventually became Foreclosure Defense Group was born in fall 2009 after a network of specialized local attorneys decided to collaborate with Laskowski and Ackerman, who are careful to point out that they are not lawyers themselves. Instead, FDG acts as a marketing, outsourcing and educational firm for the attorney network they serve.

“The first thing an FDG attorney is going to do is conduct a forensic loan audit of all mortgage-associated documents to look for fraud, predatory lending violations and/or paperwork errors,” Ackerman said. “This institutes a ‘discovery’ process which involves requesting subpoenas and important documents and collecting depositions. Next, the attorney will use those findings and evidence to get the attention of the bank. They will tell them loud and clear that they can settle this the easy way or the hard way—it’s the bank’s choice.”

Foreclosure defense strategies offer homeowners two major benefits, added Ackerman. First, the attorneys’ efforts can buy the homeowner extra time, which can often be 12 to 24 months or longer, depending on the complexity of the case. During this time, the homeowner will remain in their home, providing an opportunity to save money and get back on their feet. Secondly, foreclosure defense attorneys can push for a settlement and insist on a new mortgage that the homeowner can afford.

The current statistics on foreclosures are staggering. According to a Lender Processing Services report issued in September, the total U.S. loan delinquency rate, which includes home loans past due at least 30 days, is nearly 10 percent. RealtyTrac reported that banks repossessed more than 95,000 American homes in August—a new record. Yet, only 5 out of 100 homeowners will put up a fight to keep their homes from being foreclosed upon, according to FDG attorneys. Ackerman estimated that 95 percent of all homeowners are not even aware that there are actual legal remedies and defenses they can pursue to safeguard their home from foreclosure.

Typically, said Laskowski, “a homeowner facing foreclosure will first try to refinance the loan with the lender, but often can’t qualify due to loss of income, lower credit scores, and decreased property values. Next, they may attempt a loan modification, but because banks are currently under-staffed and inefficient, this can take months, during which time the foreclosure may proceed. The last resort is often declaring bankruptcy, which may not resolve their foreclosure problem.”

Instead of waiting around hoping that the bank will work with you, “the homeowner must go on the offensive,” said Laskowski, who also invests in and manages real estate properties. “Your FDG attorney can file a counter suit against the lender, thus making the homeowner a counter-plaintiff instead of a defendant and turning the tables on the bank. Banks aren’t used to this strategy, and they usually determine that it’s better off settling with the homeowner instead of going to court and paying all those legal fees.”

If the bank is found guilty of fraud and predatory lending, this would have serious repercussions across the country as a new case precedent that other states would probably follow. Banks, noted Ackerman, cannot afford to let this happen.

When a new homeowner client contacts FDG, Laskowski or Ackerman screens the prospective client carefully based on a pre-determined list of questions provided by an attorney. If the necessary criteria are met, an appointment is set for the homeowner to meet confidentially for a free one-on-one consultation with an experienced attorney ideally suited to handle the case. While the expenses each attorney will charge can vary, the average monthly flat fee starts at approximately $750, the charges for which can include research, litigation, paperwork and more.

“Keep in mind that the program is very affordable compared to what the homeowner has been paying in principle, interest, taxes and insurance. The legal fees are probably a lot less than what the homeowner would normally be paying for their monthly mortgage. In my opinion, I would rather pay an attorney $750 per month to fight to keep me in my home for the next 12 to 24 months and protect my legal rights than rent an apartment for $750 per month,” said Ackerman.

Most homeowners never think about retaining an attorney because of the perceived expense of the attorney’s time. FDG attorneys, however, charge a small upfront fee for filing costs and loan audits but then charge a very affordable monthly retainer fee that will not fluctuate. This way, the client can count on top-notch service and not feel as if the clock is ticking very time they pick up the phone.

Energized by their achievements, Ackerman and Laskowski are preparing to launch FDG in six new markets before the end of 2010: California, New York, Florida, Texas, Nevada and Arizona.

“Each state handles real estate foreclosures differently. There are two types of states—judicial and non-judicial,” Laskowski said. “In the former, such as Illinois, a lender has to use the court system to foreclose upon a homeowner, which takes up to eight months on average. In the latter, such as Arizona, a foreclosure can occur within 90 days and the homeowner is forced to move out.”

Different strategies can be executed for non-judicial versus judicial jurisdictions. For example, declaring bankruptcy may be the best route for some in a state like Arizona, whereas filing counterclaims and tying up the matter in the courts may be the best approach in a state like New York.

Ackerman said the tactics that FDG attorneys employ today “were unheard of just two years ago. The banks aren’t used to being challenged. They commonly have a financially vested interest to push foreclosures, as banks often take out multiple insurance policies on their properties and the servicing companies for the banks can make more money in penalty fees incurred due to late mortgage payments.”

Most clients who find FDG “have already been turned down for a loan modification and exhausted all other possibilities,” said Laskowski. “At that point, you have to ask yourself—who is going to represent you best? If you have a heart problem, you see a cardiac specialist, not a foot doctor. When you have a loan problem that can lead to the loss of your home, you need the help of an aggressive, experienced lawyer who knows how to play hardball with these lenders.”

For more info visit www.foreclosuredefensegroup.com or call 800 395 1151

Home Foreclosure is Not The Only Answer

Mortgage Modifications

If you are struggling to make your mortgage payments in full, you may be able to get a new mortgage with different terms.  This is called mortgage modification.  While this is not an option for everyone, it is worth applying for.  This can be achieved by speaking with your lender to work out an agreement that is comfortable for both you and the lender.  Many homeowners make the mistake of not communicating with their lender, but it is important to communicate with your lender throughout the whole process.  A mortgage modification can lower your monthly payments and make them more affordable.  If you qualify, this could help you save your home.   It is important to understand all of the terms of your modification so that you know what you are getting into.

Foreclosure Defense

Foreclosure Defense is a way for homeowners to fight and keep their home.  There are many tactics and strategies that go along with this type of defense.  With the help of a foreclosure defense attorney, you can fight your foreclosure.  Your attorney will work with your lender to negotiate terms and agreements.  It can be possible to delay your foreclosure, lower your payments, and save your home.  Your attorney may even suggest filing a lawsuit against your lender.  By hiring an attorney, you have the opportunity to fight your foreclosure with the experience and knowledge needed.  Research to find an attorney in your area who specializes in this practice.

Bankruptcy

Bankruptcy is a complicated legal process that can allow your debts to be forgiven.  It is best to speak with an attorney to see if bankruptcy is an option based on your personal situation.  There are many regulations and laws related to bankruptcy, and it should not be taken lightly.  This is a great option for homeowners who are falling behind on not only their mortgage payments, but their other bills as well.  If bankruptcy is granted it can help give you a new financial start.  While bankruptcy can harm your credit rating and score, it can be a way for you to keep your home.

More Information

If you are interested in learning more about home foreclosure, there are many resources available.  The Foreclosure Defense Program provides insight on the foreclosure process and  information on foreclosure defense.  With the right tools and resources, you can save your home.  Visit www.foreclosuredefense.com to get more information on foreclosure defense attorneys, and other home foreclosure related issues.

Bank of America Involved in Foreclosure Related Lawsuit

Because these mortgages were not modified, there was no need for homeowners to keep making mortgage payments.  Bank of America wrongfully kept collecting these payments, while continuing the home foreclosure process.  These lawsuits hope to get Bank of America to change its practices.  The goal is for the lender to develop a better communication system between the bank and its customers.  This will help give homeowners more accurate information about their mortgages.  Bank of America is not the only lender in this situation.  Other lenders have recently faced scrutiny for their foreclosure practices.  As more homeowners lose their homes,  more lender complaints arise.

Bank of America has completed around 750,000 loan modifications.  Many homeowners apply for modification, but do not meet the strict qualifications.  With its current practices, homeowners find out that they do not qualify, much too late.  A better communication system would allow for homeowners to know whether their modification was accepted at a faster rate.  This would lead to less confusion, and would give homeowners a chance to fight their foreclosure, instead of being forced to lose their home.

Nevada and Arizona are two states with some of the highest home foreclosure rates in the country.  Other states that have been especially suffering over the last few years include Florida, Illinois, California and Texas.  Bank of America is the number one lending company in both Nevada and Arizona.  In Nevada, one in 99 homes received notice of foreclosure last month.  Arizona’s foreclosure rate is very similar.  These statistics help to better illustrate the current foreclosure crisis.

As more home foreclosures are questioned, homeowners are learning ways to stay on top of home foreclosure issues.  With the right tools and information, home foreclosure can be stopped.  The Foreclosure Defense Program is a great resource for home foreclosure news and information.  Find out why you should hire a foreclosure defense attorney and learn the importance of foreclosure defense.  It is important to get help as soon as possible in order to keep your home.  Don’t sit back and let your home be taken from you. Visit www.ForeclosureDefense.com for more information and to find an attorney in your area.

Is a Foreclosure Defense Attorney Right for Me?

When deciding to fight your foreclosure, speaking with a foreclosure defense attorney is the first step.  It is best to get help as soon as you find yourself in this situation.  If not, you may lose your home.  It is best to find a local foreclosure defense attorney with a lot of experience.  After selecting an attorney, you will want to set up a consultation appointment.  Most attorneys do not charge fees for a consultation, so be sure to take advantage of the opportunity to learn more about foreclosure defense.  This can also give you the chance to explain your personal situation and see if an attorney will be able to help you fight your foreclosure and keep your home.

What exactly will your attorney do?  Once you have a foreclosure defense attorney, he or she will better explain the ins and outs of home foreclosure.  It is your attorney’s responsibility to keep on top of the ever-changing laws and regulations related to home foreclosure.  They are experienced in this profession and know how to fight a foreclosure successfully. This is why it is best to get help and not to fight this alone.  Listen to what your attorney has to say throughout the whole foreclosure defense process.

Your foreclosure defense attorney can work with your lender to come to an agreement.  This may include a mortgage modification, which can allow you to have a lower monthly mortgage payment.  Your attorney may also suggest bankruptcy, which if you qualify, could give you a fresh financial start.  If your foreclosure is thought to be wrongful, your attorney may file a lawsuit against your lender.  All of these methods may stop the foreclosure process and allow you to keep your home.  Your foreclosure defense attorney will know the best steps to take, based on your personal situation.

Before giving up and letting your lender take your home, be sure to research home foreclosure.  A great resource to take advantage of is the Foreclosure Defense Group.  This program offers news and information on home foreclosure, foreclosure defense, and other related issues.  The Foreclosure Defense Group even has resources to help you find the best foreclosure defense attorney in your area.  With the right tools and techniques, it is possible to fight your foreclosure and keep the home that is rightfully yours. Visit www.foreclosuredefense.com to find an attorney near you.

Homeowners are tired of it...

This freeze allowed Bank of America to review its foreclosure processes.  The company has identified problem areas, and found ways to correct these issues.  While improving their process, the company feels it is appropriate to continue foreclosing on homes in order to lower the amount of abandoned homes across the country.

Bank of America is just one of many companies that have been under the scrutiny of the public eye.  Many lenders have been foreclosing on homes illegally.  This includes letting documents be signed illegally or incorrectly, in order to speed up the home foreclosure process.  This was one of the reasons that led Bank of America, along with other lenders, to halt foreclosures in order to take a look at their plans and practices, in order to properly fix their methods.

While it will continue with foreclosure refilling, Bank of America will still observe a holiday freeze from December 20 to January 2^nd.  Many lenders observe this freeze in order to bring stability to homeowners during the holiday season.  Not all lenders choose to participate in this suspension period.

Wrongful foreclosures have been a big issue throughout the entire United States.  Many of the foreclosures that will now be re-filed are in the state of Florida.  Florida has had a lot of attention in regards to fraudulent foreclosures.  Many other states have also had issues, including California, Texas, Michigan, and Georgia.

As these foreclosures continue, many homeowners will begin to fight to keep their homes.  For homeowners who have been victims of wrongful foreclosure, they are not going to allow their homes to be taken from them.  With the many current issues related to foreclosure, foreclosure defense has become an increasingly popular topic.

Foreclosure defense allows homeowners to fight to keep their property.  This can be achieved by hiring a foreclosure defense attorney.  These attorneys specialize in the law, and know the ins and outs to help you win your home back.  They can work with your lender to stop the foreclosure process altogether.

If you are in need of foreclosure information, resources, news, and more, you will want to utilize the Foreclosure Defense Group.  You will find guides, facts, and resources, and even find ways to hire a foreclosure defense attorney.  With this resource, you can learn the importance of foreclosure defense and can fight to keep your home for many years to come. Visit www.foreclosuredefense.com