Homeowner's Cost to Sue Bank for Loan Modification Agreement CEPersVid-49

To obtain a loan modification agreement which the bank refuses to give, you need to bring suit against the bank. You should do this right away, while the bank and banking industry are in disarray (and may not be able to find the original note). Attorney Carl Person takes you through a cost-benefit analysis for homeowners wanting to save their home from foreclosure. First, homeowners are to determine the dollar value to them of obtaining a reasonable loan modification agreement (including the value of saving a threatened marriage). Secondly, Person outlines the dollar amount of the homeowner's expected cost (in legal fees and expenses) to commence his/her lawsuit against the bank, and hopefully force the bank to give the desired loan modification agreement. Thirdly, Person explains various ways in which the homeowner can put together the money needed to pay the attorney.

Category:

News & Politics

Tags:

• Action
• lawsuit
• attorney
• cost
• legal fees
• cost-benefit analysis
• bank
• financing lawsuit
• mortgagee
• force
• loan modification agreement
• foreclosure
• bad faith denial
• residential
• original note
• original mortgage
• foreclosure lottery
• Carl Person
• CEPersVid

[idahotandj]

Carl, our situation is that about a year ago we did get a loan modification from BofA but then last fall I was laid off and got behind in payments. They have denied a second modification because we didn't complete a year of payments, and now we are in foreclosure. We are in a non-judicial state, we have contacted an attorney that thinks we have a case for quiet title. The question is can we at least have a good chance at another mod or even better, like the recent Utah cases?