This client came to Loan Lawyers in 2017 to defend against a mortgage foreclosure action. The plaintiff ultimately dismissed its case after a Final Judgment of Foreclosure had been entered because the client was able to reinstate his loan and accept a loan modification offer from the plaintiff.
Loan Lawyers was able to negotiate a reinstatement and loan modification for this client based on what he could actually pay now towards reinstatement and what he could pay moving forward. The client had been in a default state for over five years at the time of the reinstatement and modification.
This case was not without its hiccups. With a sale date fast approaching, the client sent full reinstatement funds to the plaintiff, the plaintiff acknowledged its acceptance of the funds, then, a month later, returned all the funds to the client because the plaintiff claimed to have made an error in calculating the reinstatement figures.
Loan Lawyers then requested the corrected reinstatement quote, which turned out to be nearly three times the first reinstatement quote.
The client was able to offer an amount less than the full reinstatement quote, which the plaintiff then accepted and, further, offered a loan modification to the client. The client accepted the loan modification offer.
The plaintiff then filed a motion to vacate the final judgment, dismiss the case, cancel the pending foreclosure sale, and release the lis pendens on the grounds that the loan had been brought current. The court promptly granted the plaintiff’s motion and entered an order dismissing the case.
Loan Lawyers has helped over 5,000 South Florida homeowners and consumers with their debt problems, we have saved over 1,800 homes from foreclosure, eliminated $100,000,000 in mortgage principal and consumer debt, and have collected millions of dollars on behalf of our clients due to bank, loan servicer, and debt collector violations, negligence and fraud.
Contact us for a free consultation to see how we may be able to help you. Call us at 1-888-Fight13 (344-4813).
Results may not be typical. You may not have as beneficial a result.