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A dream worth fighting for a

llen Smith and his wife designed and built their

by anna barela

The new bank would not honor the modification,

dream home themselves. They never fell behind in

sent back every payment Allen made, and filed a notice

payments on the mortgage and even offered the bank

of default. Allen even tried to pay cash to settle the

cash to buy out the loan when the bank refused to honor the

loan – in essence, to buy his own home back – but

agreed-upon interest rate. Allen owned his own business in the

the bank changed the sale date without telling

mortgage industry, and felt he could tackle the issue himself.

Allen and he was foreclosed on.

But they still ended up in the middle of a foreclosure. “Where did we go wrong?” Allen wondered. “We worked

Allen said, “I built a lot of the house myself. I planted every single blade of grass and every

really hard and saved our money. We had a picture of our home

plant around the house. I’ve got blood on some

design plans on the wall and touched it every day – that was

of those boards!”

our motivation for eating beans. When we built the house, we were finally able to realize our dream. We did everything right.”

That’s when Allen turned to Louis White Attorneys at Law. The attorneys at Louis White helped him understand that the bank had broken the law and committed fraud. They helped Allen take the bank to court by filing a lawsuit for wrongful foreclosure and fraud.

He’s been able to keep us in our home. He’s been able to expose the fraud that we didn’t understand. Not everybody can do that.

“He’s been able to keep us in our home,” Allen said. “He’s been able to expose the fraud that we didn’t understand. Not everybody can do that. You have to know where to go to find the rules because they are obscure.” The Smiths are now waiting for the bank to decide whether to accept a settlement offer. Otherwise, the case will go to trial. Either way, Allen is confident that he will get to keep his home for good with the help of Louis White Attorneys at Law. Allen said God has helped too, and described little miracles along the way. Allen said, “By the grace of God it turned out the way it did. The bank’s attorney has made tons of mistakes. I think

The trouble couldn’t have started at a worse time. Allen, his wife and his daughter had finally moved into their new home. They were expecting baby number two, but the baby came two months early and faced an extended hospital stay. After $120,000 in medical bills, they were able to finally bring their son home with a diagnosis of cerebral palsy. About this time, the rate on the Smith’s mortgage was supposed to have dropped from the construction phase rate to its new, lower permanent rate – a relief since their income had

it’s totally because of God! It’s just really unusual mistakes.” Louis White is handling all the details, so the Smiths can focus on their children. Their son is 5 now, and he barely shows any signs of cerebral palsy. “He has a problem walking, but you can’t really tell unless you look really close,” Allen said. “He’s smart as a whip and the most tender, loving child I’ve ever seen.” Their daughter is 9 and sometimes worries they will have

been reduced. But the bank mailed back the first payment; the

to move. Allen just tells her, “You don’t need to worry about

interest rate had not been reduced.

if we’re going to move. The only thing I need you to know is

Allen fought for a modified loan and was eventually

I am going to fight for you.”

approved. Meanwhile, the bank sold his loan with other highrisk loans to another bank. The interest rate at the new bank? The incorrect, higher rate. “It was over-the-top stressful,” Allen said. “We found out later as a result of investigation that it fell into that pool accidentally. It wasn’t supposed to be sold.”

Did you know? If a lender intends to foreclose on a property, the lender is required by state law to fulfill

• Contact the borrower at least three times by telephone before filing a notice of default. • Send the borrower a notice of default by mail. • Provide the borrower with a notice of trustee sale 20 days

certain requirements. The lender must:

5

Underwater Mortgage Help | March 8, 2012 | A paid publication for Louis White, Attorney-at-Law | www.LouisWhiteLaw.com

before the sale date is to occur.

Underwater Mortgage Help  

An alternative news source and guide to Sacramento. Read local stories, search our calendar, find music, film and dining guides to the city,...

Underwater Mortgage Help  

An alternative news source and guide to Sacramento. Read local stories, search our calendar, find music, film and dining guides to the city,...