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OUR Attorney has experience getting this done
please call me for details 702-413-7467
or Email me for an inquiry Steve@vegasmortgageman.com
So tell your customers to be very careful and deal with
legitimate people
If you or your customer is upside down and the property is appraising
for much less than the current loan(s), a lawyer will step in to look
at the loan documents, try to find flaws, intimidate the banks legally
into agreeing to offer a change because their choices may be
- Legal action because something smells about the loan application
and how it was done.
- Legal action because the loan changed hands so many times its
diluted and they are not sure where the paperwork is, or can't be
bothered.
- Legal action to convince them it is much smarter not to have a foreclosed property when they can have the same owner paying something, even if its less.
this is not an offering but approximate information as of December 08 directly from the attorney's office. His fees and terms may change from time to time and I cannot be held responsible for those items.
There is more to it, and the fees will run - to the lawyer - not me, approximately $3000 upfront which HALF will be refunded at anytime the customer decides they have had enough OR if the lawyer can get nowheres with the bank. This fee will work for properties up to $200,000 in current appraised value. If it is higher it will 1% of the new appraised value as the fees. Currently, California and Maryland have some legal issues and my lawyer will have to funnel those states through a local lawyer there, or we cannot do them.
I hope this starts to explain what this is about. There are some more details and I will have to qualfy the customers to see where they fit.
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