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wITH

Jamil White

If I am in foreclosure, behind in my payments or owe more than my home is currently worth, what should I do? Contact our firm right away because we have done the footwork and have the experience and knowledge necessary to present the best possible case to the banks on behalf of our clients. Often when people try to seek assistance from the banks on their own, they fail to give the banks the necessary information to lead to the best result possible.

What should I bring? When coming to see us for the first time, a client

keep the house at today’s fair market value and

informal resolution can be achieved. If not, we draft

insurance pays the difference. This results in a huge

a complaint and file it in court to leverage the lender.

windfall to the banks at the expense of homeowners.

If the client is a good bankruptcy candidate we

It’s just not right.

would evaluate its benefits. From loan modifications to shortsales, whatever benefits the client the most, we obtain it.

How long does it take? The whole process can take as little as three to eight months to reach resolution.

Can I still stay in my home during the process? Ninety percent of the time, our clients are able to

should bring their loan documents, a chronology

stay in their homes throughout the process. Of the

of any communications they have had with their

roughly 10 percent who do not stay in their homes, 5

lenders, an explanation of why the client feels they

percent are generally people who want to transition

have been wronged by a lender and a picture of their

out of their homes. The rest are clients who came to

financial circumstances so we can evaluate and

us very, very late in the process to the point where

choose a strategy that helps the client get financially

there was not enough time to do an adequate work

healthy.

up of the case, or their circumstances were such that

What will happen at the appointment? At the appointment, we will discuss the various tools we have at our disposal and explain what works

staying in the home was not feasible.

Do I have to continue to deal with the lender? do not tell our clients not to talk to the lender, but

financial circumstances and make decisions on

we prefer to communicate with the lender so we can

how to put the client in the best housing and credit

present the facts in the light most favorable for the

situation possible. We will explain what the client

client and prevent the client from creating a harmful

can reasonably expect, explain the risks and benefits,

situation for themselves.

to relieve their overall debt burden.

What does the initial appointment cost? The initial appointment is generally a free

telling by the number of foreclosures out there, the banks don’t view keeping people in their homes as economically feasible. Statistics show that that only 4 to 8 percent of people requesting loan modifications in this country are actually getting them, thus the banks are not working with the majority of people who want to negotiate to save their homes. It’s my job to help people fight against big banks, to make it more expensive for the banks to foreclose, to make it a little more feasible to keep those homeowners in their properties.

I have studied and put in hundreds of hours factors that created it. I learned that the financial institutions are culpable in this financial mess. The banks made a ton of money by selling a lot of loans

to do is stop that sale. Otherwise, we contact the

foreclosure if it is economically feasible. Obviously

of research into the 2008 financial crisis and the

an hour.

If there is a sale date, the first thing we want

duty to keep homeowners in their homes instead of

Why did you choose to focus your practice in this area?

consultation and lasts for about 30 minutes to

What usually happens after the first appointment?

California law requires that banks have a limited

We become our clients’ legal representative. We

and what doesn’t work. We will evaluate the client’s

and enlighten the client on all of the tools available

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lender and open up a dialogue to determine if an

people could not afford and by selling them on a secondary market. Then, when things went south, the banks insured these mortgages from default. Not only have the banks received years of homeowners monthly payments, but when they foreclose they

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

Underwater Mortgage Help  

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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,...