Our office recently succesfully completed a Cenlar loan modification. Cenlar bank no longer operates bank branches but acts as a loan subservicer for larger banking institutions. Cenlar is one of the largest subservicers in the country. De Novo Law Firm has worked with Cenlar and Bayview Loan Servicing to stop foreclosure and allow homeowners to […]
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A recent article in the Press Enterprise states that homeowners are having difficulty refinancing their loans under the Home Affordable Refinance Program (HARP), a program under the government’s Making Home Affordable Program. HARP is a program designed to allow homeowners to refinance their homes into today’s lower rates despite their inability to meet traditional lending
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Will the $26 billion dollar settlement help homeowners? The short answer -Probably Not. I have had numerous clients ask me about the highly touted settlement involving the attorney generals and the major banks. Understandably, $26 billion sounds like it could potentially help a lot of people who want to stay in their home. However, a
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A recent article on CNN finds that more homeowners are fighting to stay in their homes longer despite the attempts by banks to actively foreclose on their property. The article begins with a quote from an attorney saying that many of the attempts made by homeowners to stay in their homes are without legal merit.
The Wall Street Journal reported today that the city of Los Angeles is suing Deutsche Bank for its failure to maintain homes taken back from homeowners through foreclosure as well as illegally evicting tenants who were legally renting the spaces. Deutsche Bank has responded by saying they are only the trustees of the properties and
Chapter 7 Bankruptcy is another option that can possibly forestall a home foreclosure and lead to a more permanent solution. Upon filing Chapter 7 bankruptcy, the automatic stay goes into effect and stops any creditor from taking an adverse action against the estate. Chapter 7 bankruptcy has the added benefit of eliminating unsecured debt such
Most homeowners are left with little hope after receiving a Notice of Default or a Notice of Sale on their home. However, there are several things clients can do to protect themselves. 1. Pay the reinstatement amount and reinstate the loan: Although most people do not have the thousands of dollars necessary to come current
