Question: My bank refused to honor a signed loan modification offer that was presented about two years ago. We fulfilled all obligations, returned all paperwork and made payment via cashier's check. We have not heard from the bank and now they claim the loan modification offer did not receive final approval and are threatening to start the foreclosure proceedings. We have made all payments on time. Do we need to retain an attorney and will we need to sue them?
Response: It is very likely that when you received a loan modification, it was given prior to stringent requirements that are taking place now. Banks used to give out loan modifications like candy and then deny everyone. Most people then had to reapply for a loan modification once the bank was able to verify all the necessary documents. Have you tried reapplying for a loan modification? It is likely that they could review you again and grant a loan modification this time around. If not, even if the bank commences a foreclosure action, you have good arguments for the court, which will most likely take your side and will exert pressure on the bank to enforce the loan modification or grant another one since the bank is not acting in "good faith."
In the legal blog, Attorney Svetlana Kaplun addresses typical questions our firm has received from our clients, or come across from homeowners related to foreclosure, foreclosure defense, loan modification and bankruptcy topics.
The information contained in the legal blog of Attorney Svetlana Kaplun is for informational purposes only, and should not be construed as a legal advice on any subject matter. Please read our full disclaimer or contact the Law Office of Svetlana Kaplun, P.C. by telephone at 718-444-1115 for more information.
Copyright © 2016 Law Office of Svetlana Kaplun, P.C.
modification, making home affordable, hamp, mortgage modification, harp refinance, making homes affordable, modifications, home affordable modification program, home affordable refinance program, hamp program, home loan modification, loan modification guidelines, foreclosures, foreclosure listings, foreclosure homes, mers, foreclosure settlement, foreclosure homes for sale, free foreclosure listings, foreclosure home, deed in lieu of foreclosure, foreclosure process, how foreclosure works, home foreclosure, foreclosure radar, bank foreclosure, home foreclosures, foreclosure listing, hud foreclosure, foreclosure laws, short sale vs foreclosure, stop foreclosure, totally free foreclosure home listings, foreclosure help, free government home foreclosure listing, free listing foreclosure home sale, free foreclosure listings with pictures, fannie mae foreclosure, independent foreclosure review, lawyers, power of attorney, personal injury attorney, attorneys, power of attorney form, durable power of attorney, power of attorney forms, criminal attorney, attorney search, medical power of attorney, free power of attorney, bankruptcy attorney, power of attorney template, power of attorney form download, durable power of attorney form, free power of attorney forms, general power of attorney, free printable power attorney form, lasting power of attorney, tax attorney, free power attorney forms, divorce attorney, ace attorney, disability attorney, attorney jobs, enduring power of attorney, attorney at law, patent attorney, free power of attorney forms to print, real estate attorney, injury lawyer, personal injury lawyer, defense lawyer, criminal defense lawyer, the lawyer, accident lawyer, a lawyer, criminal lawyer, motorcycle accident lawyer, rocket lawyer, bankruptcy lawyer, divorce lawyer, ask a lawyer, find a lawyer, lawyer referral, car accident lawyer, family lawyer, lawyer search, lawyer find, lawyer ratings, lawyer referral service, immigration lawyer, dui lawyer
Law Office of Svetlana Kaplun, P.C. provides high-quality legal counsel to people, with a unique focus on clients in need of financial relief. Our specialization areas comprise of foreclosure defense and litigation, including varying forms of loss mitigation, such as loan modification and debt negotiation, as well as bankruptcy.
Call our firm today at 718-444-1115 or visit us on the web at www.loanmodny.com!
Tuesday, February 26, 2013
Foreclosure after Bank's Refusal to Honor an Executed Loan Modification
Labels:
attorney,
bankruptcy,
blog,
brooklyn,
defense,
fha,
foreclosure,
foreclosure attorney,
hamp,
lawyer,
legal,
litigation,
loan modification,
loan modification attorney,
new york,
ny,
professional,
queens,
Svetlana Kaplun
Location:
Brooklyn, NY, USA