Legal armor donated $ 1 million in legal costs to help home owners facing foreclosure

(PRWEB) April 29, 2013

In response to widespread misconduct and scandals battered loan modification by lenders across the country, legal Armour launches a campaign to donate $ 1 million to support Americans deal with foreclosure.

home owners facing foreclosure frequently do not have the funds to hire a lawyer for sound legal suggestions on their alternatives, even when there is gross negligence on the part of their donors in the loan modification and / or their foreclosure approach. The owners are often forced to seek guidance from their friends, mortgage brokers, genuine estate agents or even on the Internet.

legal protection is far more cost-effective for the widespread American, said Yvonne Engelbrecht, vice president of legal operations of Armor. We have created legal armor to make it cost-effective for home owners to get sound legal tips. Get negative advice from uninformed but nicely-meaning owners typically lead to generating poor choices that could lead to losing their houses, ruining their credit and owe income to the IRS. Property owners need to discuss their circumstance with a lawyer who specializes in foreclosure defense that can give them the full range of alternatives they may possibly not otherwise be aware of.

legal Armor was developed to give property owners facing foreclosure affordable access to a defense lawyer foreclosure who can advise on their options.

Under its launch legal Armor is a gift of $ 1 million in the churches of legal solutions and other non-profit organizations that are helping distressed homeowners. Churches and non-profit organizations had been the bastions of hope for numerous homeowners. We want to reach out to these organizations and supply help for them to support their members who are facing foreclosure.

a church and nonprofit organizations that are interested in obtaining a lot more information about our program agencies need to pay a visit to


legal Armor

Armor sells legal membership plans for home owners facing foreclosure. Membership rewards incorporate protection of crucial services such as foreclosure inexpensive access to a lawyer of foreclosure defense, auditing securitization, credit counseling and much more.

legal Armor is a private firm that was founded in response to the growing need of Americans facing foreclosure to have affordable access to a lawyer who understands the foreclosure defense. It was founded in 2012 and is headquartered in Chicago, Illinois.

For a lot more information on legal Armor, come:

clear = “all”Locate far more securitization auditing Press

Is it a bank to show “chain of title” to foreclose on a home?

issue by Marley : Is a bank to show “chain of title” to foreclose on a home What happens if the chain of title is broken Very best answer:

response by Frequent Sense
does not matter. In spite of what you see on the news, if you do not pay, you do not remain.

What do you believe? Answer below!

How do I clear up a title issue on my home?

Question by dogcrazy: How do I clear up a title issue on my property?
My original lender sold my mortgage and it has subsequently been sold twice far more considering that the original time. None of the 3 lenders did an assignment of mortgage. I am now attempting to refinance my property but there is no “chain of title” in the county records going among the lender that I currently make payments to and my original a single. They are telling me that I can’t close till each and every of the lenders “assigns” the mortgage to the subsequent. The issue that I have is two of these lenders are now defunct. How can I fix this problem?

Very best answer:

Answer by neonlights1971
I’d ask a Lawyer that deals in this kind of issue. sorry not significantly I can say. but greatest of luck to you!

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Deal with the fiscal cliff and during 2013 the economy would be prudent to invest in a home?

issue by Sean : Deal With the fiscal cliff and during 2013 the economy would be prudent to invest in a house
With interest rates so low, people buy houses in the Central Valley, California, as a fou.L asset inventory current sucks and the houses are very expensive compared to the year dernière.J ‘have cash 188k and I can buy a property here in the valley, but I do not want to buy a property at this time and in 2013 they again fall down. How long are the interest rates remain low? Is the tax case related to real estate? It would be prudent to buy a home in time to invest? Excuse my punctuation. I write in haste. Thank you Best answer:

response Ursugardaddy
This will be long, but since you’re about to spend 188K, you can take a few seconds to read this. When you buy this house, somewhere in the year that you own the property will decrease the value to return. No body can predict the future, so if you can afford to buy and lock onto 3 percent something to do, but some drawbacks. Cash Advantage # 1: no worries. The process of qualifying for a mortgage is a chore, even if you show that you have important assets and incomes. You must have created a credit for a lender to be able to assess its risk to you, but with money, you are at no risk. You save time with paperwork and, in theory, the procurement process will be faster. For a seller, a buyer this species may have an advantage over those that are related to the participation of a mortgage lender. Cash Advantage # 2: low. You may be able to negotiate a better purchase price when you have cash to show, but there are many other areas you can save money. Closing costs may be less, and without a mortgage, you do not have to worry about paying points. Over time, most of the savings from the interest. On a mortgage of $ 250,000 at 7% over 30 years, you could pay almost $ 350,000 in interest. Pay $ 250,000 in advance and save your money. cash advantage 3: no payment at retirement. With mortgages thirty years is the norm, families waiting before buying a home may find they still have a balance to pay their lender when they retire. During retirement income could be significantly reduced, which makes it more difficult to pay mortgage payments. Those who have a mortgage should do what they can to eliminate the payments before retirement, but if you pay cash, you’ll never have to worry about changes in your future income affect your ability to keep your home. cash advantage # 4: You’re not a slave. I do not fully agree with the idea that debt is slavery, but when you owe money to someone else, you definitely lose some of your freedom. For example, a Philadelphia landlord has been notified by its lender, Wells Fargo, which may not even own the mortgage due to the securitization to increase its insurance covering the full replacement value of the home rather than market value of the house. The charges would have added $ 500 to their monthly bill. Although the owner might be able to correct the situation, without a mortgage, Wells Fargo was not harassment. advantage of mortgage 1: greater financial reward. It comes with a risk, but if you intend to stay in the home for several decades, and you have room, your financial gains could be greater if you finance the purchase. If after ten years, the value of the home increases $ 200,000, everything that belongs on the rise, even if you do not own the house outright. You could even increase this cash if you need money for any reason. The other dimension of this is that if the value of the home decreases, you are on the hook for the loss, and in many cases, you might find yourself under water, due to the lender more than your home is worth. Mortgage Advantage # 2: buy a bigger or better house. Even if you have the opportunity to buy a house with the money, you may still want to choose a mortgage. If you expect to have more money on the way, you can use your current assets to help pay for a bigger house, if it is something that is important to you. 188K with cash today, for example, you can either buy a house without a mortgage or use part or all of the money for closing costs and a down payment. As you would expect more income in the future to pay the mortgage, you can use the cash today to your advantage. advantage of the mortgage 3: obtaining tax relief. Yes, it is true that at least as of today, there is a tax deduction for mortgage interest. This is not such a big advantage that most people believe, however. You get only a portion of each dollar of interest you pay and the benefit is limited by income. Even with a salary of middle class, you might be prevented from taking this deduction. Of course, if you pay cash for a house, you pay no interest, which is much better than paying interest and get some of that back the government. advantage of the mortgage 4: asset diversification. Having money to spend is not the only consideration. If the home you want 178K cost you $ 188,000 in cash ready to go, you’ll be left with only $ 10,000 for all of your other savings needs, including an emergency fund. Using all your money to buy the biggest house your money can buy is to put all your eggs in one basket. If you have enough money to buy a house requires only a portion of your property, you can always consider your statement of financial security, but once you transfer all your cash savings in an illiquid asset such as a home, you may have trouble getting cash when you besoin.Prenez care

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Q&A: On a foreclosed home, who negotiates the price on behalf of the mortgage owner(s)?

Question by Gaetan: On a foreclosed home, who negotiates the price on behalf of the mortgage owner(s)?
Let’s say, a home goes through foreclosure. Its related mortgage was pooled and securitized among thousands of others. Now, the home is for sale. The real estate broker incentive is to set a low price to turnover the property quickly. That’s because for a broker time is money.

So, who negotiates the price and protect the fragmented owners interest (MBS investors). Is it the servicer of the mortgage? But, because of his own operating cost he also would have an incentive to sell quickly at a low price. How about the securitization bond trustee. Does the trustee step in and negotiate with the broker what price is deemed acceptable to the MBS investors?

You can see it is kind of a gnarly question. If you have a clear understanding of this process, please educate me.

Best answer:

Answer by Pengy
No one because in the end you are ultimately responsible, and the interest and charges keep adding up.

Add your own answer in the comments!