BorrowerRights

NLS

a consumer advocacy
the propagation of fair lending
& anti predatory practices

Moe,Moe,Moe,Moe,Moe,Moe

Rule 1-600. Legal Service Programs

(A) A member shall not participate in a nongovernmental program, activity, or organization furnishing, recommending, or paying for legal services, which allows any third person or organization to interfere with the member's independence of professional judgment, or with the client-lawyer relationship, or allows unlicensed persons to practice law, or allows any third person or organization to receive directly or indirectly any part of the consideration paid to the member except as permitted by these rules, or otherwise violates the State Bar Act or these rules.

(B) The Board of Governors of the State Bar shall formulate and adopt Minimum Standards for Lawyer Referral Services, which, as from time to time amended, shall be binding on members.

The participation of a member in a lawyer referral service established, sponsored, supervised, and operated in conformity with the Minimum Standards for a Lawyer Referral Service in California is encouraged and is not, of itself, a violation of these rules.

Rule 1-600 is not intended to override any contractual agreement or relationship between insurers and insureds regarding the provision of legal services.

Rule 1-600 is not intended to apply to the activities of a public agency responsible for providing legal services to a government or to the public.

For purposes of paragraph (A), "a nongovernmental program, activity, or organization" includes, but is not limited to group, prepaid, and voluntary legal service programs, activities, or organizations.

Focus and Strategy

Stop foreclosure assistance is not a "funny" or "amusing" picture by any means! It's mediation services offered to victims of deceptive lending practices.

Wall Street auditors familiar with negotiating liquidation options for non performing and sub performing impaired assets.

Solutions
Our service will use every legal means to halt a lenders attempt to enforce those provisions, even for failure by the borrower to pay the required installments

Fighting Foreclosure!

You are not alone as millions of Americans are facing the prospect of foreclosure. Many more are likely to follow the

same fate as the year continues in to the 4th quarter.

.DID YOU KNOW . . . a Deed in Lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings.

NLS Borrower Hotline
Call us today Toll Free

toll free

877-732-7653

Negotiated Lender Settlements

Professional Mortgage Auditors specializing in uncovering deceptive and Predatory lending practices

NEW YORK (CNNMoney.com) -- The government is expected to announce soon that it will devote up to $50 billion to directly address the source of the financial crisis: bad mortgages and millions of homeowners at risk of foreclosure.

White House spokesman Tony Fratto said on Thursday that "no decisions" have been made on "a number of housing proposals" that the administration has been reviewing "for some time."

But three administration officials indicated to CNN that the new program would be designed to prevent foreclosures by having lenders reduce delinquent borrowers' mortgage payments to affordable levels. In exchange the government would guarantee some percentage of each loan to backstop lenders if borrowers re-default on modified mortgages.

The plan could help up to 3 million homeowners, although that number is not firm, according to the administration sources.

If it comes to fruition, the government's new loan program could trump the efforts of the Hope for Homeowners program put into place on Oct. 1 by the Federal Housing Administration.

Lawmakers spent months fighting over the legislation that created the FHA program before enacting it in July. Lenders may be more likely to participate in the latest government plan if it imposes less stringent requirements.

The Hope for Homeowners program offers full government backing for lenders that agree to write down a mortgage to 90% of a home's appraised value. But the loss to lenders can be greater than 10% because many troubled homeowners are also "under water" - meaning they owe more on their home than its current market value. So to participate in Hope for Homeowners, lenders in many cases would have to lock in a sizeable loss.

The plan being considered likely would not require such a strict writedown. Instead, it might require that the new payment for the borrower be affordable.

Monthly payments can be made affordable by, among other ways, reducing the interest rate for a period of time or extending the term of the loan. Typically one way to determine affordability is to consider a delinquent borrower's debt-to-income ratio. At IndyMac, which was taken over by the FDIC this summer, loans are being modified so that borrowers' new mortgage payment does not exceed 38% of their pre-tax income.

The new government plan could offer lenders a way to reduce their losses on troubled loans, according to Jaret Seiberg, a financial services analyst at the Stanford Group, a policy research firm.

"Effectively, this is a cheaper alternative to the FHA rescue program that Congress enacted," Seiberg wrote in a note Thursday. "Lenders would have to modify the loan to make it affordable, but no one has discussed imposing the FHA rescue haircut requirement."

Big pool of bailout funds

Funding for the potential initiative would come from the $700 billion financial rescue package passed by lawmakers in early October. To date, most of the money from that package has been devoted to getting the credit markets going again.

Details of the plan are still being worked out between the Treasury, the White House and the FDIC, which is expected to run the new program under the leadership of FDIC Chairman Sheila Bair.

A year ago, Bair called for lenders to systematically modify troubled loans in order to prevent further deterioration in the housing market and the broader economy.

Howard Glaser, a mortgage consultant for Fannie Mae and Freddie Mac and former counselor to the Department of Housing and Urban Development during the Clinton administration, said the potential government plan may not be adequate.

"The Bush administration's reliance on a 'pretty please' approach to foreclosure relief - asking banks to undertake voluntary efforts to renegotiate troubled loans - has delayed recovery of the housing markets and raised the costs to the next president of addressing the crisis," Glaser said.

Last week, during a Senate Banking Committee hearing, Bair had said that the government and lenders are behind where they should be in terms of preventing avoidable foreclosures. And that while voluntary programs have been helpful, she said going forward "there needs to be a package of carrot-and-stick incentives."

Professional Assistance
We are seasoned industry "experts" offering case development for claims of negligent lending.

Claims include determining the deceptive practices and acts,

Lender Liability, unlawful lender actions

Other violations of federal law and state civil codes.

Conventional Solutions
There are other options available when facing foreclosure. They may include reinstating the loan, forbearance, loan modification, mortgage refinancing, sale of the property, deed in lieu of foreclosure,or bankruptcy filing.

Foreclosure
Foreclosure is a legal process that a lender initiates after the borrower fails to repay the loan as per the terms of the contract.

NLS Mediation Services

A Predatory Lender cannot enforce the terms and conditions set forth in the borrower’s note and the security instrument

WASHINGTON – The Bush administration is pledging to do whatever it takes to battle a severe financial crisis that is threatening to push the country into a steep recession.

But even with the aggressive steps the government has already taken, Treasury Secretary Henry Paulson says it will take time before things get turned around.

"Clearly, we're going to have a number of difficult months ahead of us in terms of the real economy," Paulson said Tuesday in an interview on "The Charlie Rose Show."

A week after Paulson announced the administration would spend $250 billion to buy stakes in U.S. banks, the Federal Reserve stepped up Tuesday with a new program to help money market mutual funds that have been squeezed by worried investors demanding to cash out their holdings.

The Fed said it would provide up to $540 billion in financing though a program run by JPMorgan Chase & Co. to purchase from mutual funds certificates of deposit, bank notes and commercial paper. The program, to be called the Money Market Investor Funding Facility, is designed to revive the market for commercial paper, short-term loans that are critical for keeping businesses running.

"If these money markets are not working properly, then the economy is significantly threatened because this is where businesses get their short-term financing for their day-to-day operations," said Mark Zandi, chief economist at Moody's Economy.com.

Money market funds hold about one-third of all commercial paper and Fed officials said that about $500 billion had flowed out of prime money market funds since August as investors became increasingly worried about their ability to redeem shares. On Sept. 18, the Treasury Department announced that it was tapping a $50 billion Treasury fund to provide guarantees for the assets in the money market accounts.

The Fed has already announced that starting next Monday it will begin making direct purchases of commercial paper in a further effort to bolster this market.

In other government actions to deal with the unfolding crisis, the Treasury Department announced that it had selected two major accounting firms to help manage the government's $700 billion financial-system rescue program passed by Congress on Oct. 3.

The program to buy distressed assets from banks is expected to spend $100 billion initially, while Paulson announced last week that another $250 billion would be committed to buying stock in banks as a way of shoring up their capital reserves so that they will resume more normal lending operations.

Paulson said in his television interview that banks might use part of the money they receive from the government to make acquisitions of weaker banks.

"There will be some situations where it is best for the economy and for the banking system for there to be a consolidation," he said.

That element of the program could prove controversial if strong banks employ the money they receive from the government not to make new loans but to swallow up rivals.

When the $700 billion bailout program was going through Congress, Paulson never mentioned the possibility that the money could be used to provide capital to banks, stressing instead that the other part of the program, having the government use the money to purchase distressed mortgage-related assets from the banks.

Paulson said that the emphasis in the program was changed in reaction to rapidly moving events as the situation in credit markets "became even more dire." He said that before changing emphasis he got input from a number of people including billionaire investor Warren Buffett.

The initiatives seem to be having a positive effect. Yields on Treasury bills and the interest rates banks charge to other banks have both fallen back to late-September levels, but analysts said financial markets will see more turbulence before the credit crisis is over.

Meanwhile, members of Congress are moving forward with efforts to overhaul the regulatory system with what could be the most sweeping changes since the 1930s, another period when Congress revamped how the financial system was regulated in response to the 1929 stock market crash and a wave of bank failures.

House Financial Services Committee Chairman Barney Frank, who held hearings Tuesday on what changes should be made, said that what Congress produces next year will be "as important a set of economic decisions I think this country will be making since the Depression."

Democrats in Congress are also pushing efforts to assemble a second economic stimulus program that could total $150 billion or more. The White House has yet to endorse the idea, but has said President Bush was at least willing to consider a second stimulus measure.