“I filed bankruptcy a few years ago, but I kept my house and have made my mortgage payments. Why isn’t my good payment history being reported on my credit reports?” A lot of consumers in Alabama have been noticing an unexpected problem with their credit reports after bankruptcy: their mortgage […]
A Foreclosure Does Not Hurt Your Credit Score Nearly as Much as You may Think. Have you ever heard someone tell you that a foreclosure will ruin your credit score? From a TV Commercial? A Realtor? A Banker? They’re wrong. The Federal Reserve Bank of Cleveland undertook a study to […]
I’m looking for people who have experienced problems with their creditors due to a failure of an electronic payment that was not their fault. If you have an agreement to pay a debt via ACH (automated clearinghouse), debit card, phone check, direct withdrawal, or other electronic means and for some reason (like a computer glitch, malfunction, bank error, or other screwup), the money never went from your bank to the creditor, the creditor is supposed to give you time to try the transfer again or fix the problem before taking action against you.
If an electronic payment method fails, your creditors cannot take action against you until they have requested another payment method in writing.
So for instance, if you have a mortgage payment that comes out of your checking account each month, and one month your bank starts screwing up the payments, then the mortgage company cannot foreclose on you or charge you late fees until they have sent you a written request for another payment method. Has this happened to you? Have you been foreclosed on because of an ACH failure that wasn’t your fault? If so, give me a call and tell me what happened. I’m very interested in this aspect of the law and want to see if there are violations happening out there.
Or are you paying for a car via debit card each month, and after a bank malfunction, got a car repossessed?
If something like this has happened to you, give me a call at 251.272.9148. I won’t charge you anything. I just want to hear your story.
You can do something about it. You must take action as soon as you can if you think that you or someone you love has been ripped off by a loan mod scams. You have rights that you may not even know about.
These scams are all over the place. I’ve seen at least three separate outfits that have tried to screw my clients. Most of them seem to be located in Florida, for some reason, but if they’re doing business here, we can absolutely take them to court here.
Even if they have “successfully” obtained a loan modification for you, they still may be breaking the law and harming you (without your knowledge) by committing bank fraud on your behalf. This is serious stuff. If you’re currently paying monthly fees to a “loan mod specialist” who hasn’t obtained a loan modification for you yet, then you need to stop paying them ASAP and ask for a full and immediate refund.
See, they’re not allowed to charge you a dime up front. And they’re also not allowed to instruct you to quit paying your mortgage.
Please don’t fall for these guys! Some examples I’ve seen that break the MARS rule:
Ocean Legal Group
Fresh Start “law firm”
Pinepoint law group
Notice a pattern? They all pretend to be lawyers, when they’re not.
Sale Leaseback Scams and Foreclosure Rescue Scams are two types of scams that are popular when housing markets are doing well. Why? Because they prey on struggling people who have a substantial amount of equity in their homes. Particularly old people.
They’re really evil, but you can absolutely do something about it, as long as you take action as soon as possible, preferably within a year.
If you have older relatives who have been screwed by these sorts of deals, it is important to gather all of the paperwork as quickly as you can and call a lawyer to fix the problem.
Rarely. I realize that there are a number of “law firms” from other states that claim to be able to stop or delay foreclosures without filing bankruptcy. They are all scams. If you never listen to another word from a foreclosure lawyer, listen to this one: there are three ways to […]
The Dodd-Frank Wall Street Reform Act of 2009 did a lot to help ordinary people deal fairly with their lenders and mortgage servicers. In the bad old days, the only rules that mortgage companies had to comply with were the terms of the contracts they wrote to protect themselves from […]
The HAMP Program says this about itself: “The Making Home Affordable Program was announced by the U.S. Department of the Treasury in February 2009 in an effort to help stabilize the housing market and provide relief for struggling homeowners.” OK, that’s real nice, but how, exactly does it work? There […]