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 […]
Cenlar Loan Modification – Riverside Modification Attorney Read More »
De Novo Law Firm recently obtained a loan modification for a client with a first mortgage with Bank of America. Bank of America has been offering more principal reductions for clients as part of the state attorney generals’ settlement with major mortgage servicers. Our client owns a home in Glendale, California and was significantly upside
Principal Reduction Modification with Bank of America Although principal reduction is rare for a loan modification, we have been successful in obtaining loan modifications with principal reduction for our clients in Riverside County. A recent loan modification we obtained for a client saved the clients both on their monthly payment as well as significant principal
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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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.
Home foreclosures in the Inland Empire have reached 12 month highs in Riverside and San Bernardino according to a recent report. According to economists, the increased number of defaults is largely due to a slow down in the time it takes most banks to foreclose. Currently, it takes a bank an average of over 300
Loan Mod Lawyer – Riverside Defaults Hits 12- month High Read More »
In an article posted today, the Press Enterprise reports that foreclosure activity continues to dip when compared to a year ago. Despite the dip, foreclosures in Riverside county remain high with one of the highest foreclosure rates in the country. Additionally, home inventory has remained constant indicating that despite a decrease in foreclosures, sales are
Riverside Bankruptcy Attorney-Foreclosures Dip in Inland Empire Read More »
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
