Our best tool to negotiate with mortgage companies is the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). State and Federal law require mortgage companies to follow these guidelines when originating home loans. Many mortgage loans have these TILA and/or RESPA violations which can and will be used as leverage when negotiating a favorable settlement for our clients. The law must be followed and failure to do so can result in significant damages your lender. So, naturally, they will be very amicable to working your loan out to more affordable terms to avoid costly litigation.

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Many of the home loans provided by brokers and lenders over the last few years have unexplainable fees and charges or were manipulated to qualify. Subprime mortgages with nasty adjustments and pre-payment penalties or Option ARM loans with minimum payment options which allowed borrowers to differ interest to a point where the loan recasts and forces the borrower into hardship by paying a much higher (unaffordable) mortgage payment. In most cases refinancing is not an option due to declining property value or debt to income ratios. We can resolve these issues fast and efficiently so you don't to lose your home to foreclosure. Helping stop foreclosure and restoring financial stability for our clients and lenders is important to economic growth and the future of our country. The American dream is home ownership and our goal is to help both home owners and lenders and restore performance to home loans facing default or foreclosure.

If the creditor fails to properly provide notice of this right to cancel, the right of rescission may be extended for up to three years. When the right is extended for three years you can rescind the loan at any time before three years, meaning that the loan is treated as if it never existed. Essentially, you become entitled to all profits made by the creditor as a result of this loan. This means that the creditor must refund all interest paid, all closing fees, all broker fees, and even pay for your attorney fees. As you can imagine, this amount can be quite significant.

The extended right of rescission is a powerful tool to help borrowers who have been victims of predatory lending, and helping our clients exercise this right is often the first step in holding a creditor responsible for illegal behavior. Remember, we are a Law Office and get results. Mortgage and loan servicing companies do not want your home and most will work diligently with a Law Office to avoid foreclosure and end the foreclosure process. Litigating mortgage fraud and predatory lending cases can become costly for both sides and should be avoided unless the lender will not comply or there are significant damages to the borrower. Our clients retain us to make a best effort at resolving their hardship and fight for their rights. In most cases this can be done without costly litigation by using existing relationships to find an amicable resolution to stop foreclosures.