LegalFaces.com

Do California lenders have to modify my loans?

California lenders and any lender nationwide, if it involves a borrower who lives in California, the new civil code section 2923.5 and .6 says that the lender has to get a loan modification, keep the borrower in the home if the loan modification will make the lender more money than the foreclosure. The point of that statute is to stop these foreclosures from happening. The California Legislature has realized that foreclosures are a tremendous problem. It's impacting the economy and so the California Legislature passed this law as an emergency statute to help homeowners stay in the home and to stem the losses that are resulting from these foreclosures. My name is Damian Nassiri. I'm a partner in the law firm Howard/Nassiri. We're based in Southern California, and we help people save their homes. If you've been the victim of a predatory loan or you're facing foreclosure, give us a call.

tags: loan modification lender obligation mortgage debt relief predatory lending foreclosure bankruptcy lawyer law firm attorney Orange County Los Angeles California Howard Nassiri

attorney: Howard | Nassiri, LLP

Does a bank have to modify my loan in California?

A bank will have to modify a loan now in California because of the California Loan Modification Law. If the borrower meets certain criteria, for instance the loan is orginated between 2003 and 2007 and its a loan on their primary residence, the lenders will have to give a loan modification if the borrower can afford to make a payment on the loan that will reap the lender more money than a foreclosure would. Now a lot of times you're going to have to file a law suit because the lenders aren't listening a lot of times. My name is Damien Nesery. I'm a partner in the law firm of Howard Nesery. We're based in Southern California and we help people save their homes. If you've been the victim of a predatory loan or you're facing foreclosure give us a call.

tags: loan modification bank obligation mortgage debt relief predatory lending foreclosure bankruptcy lawyer law firm attorney Orange County Los Angeles California Howard Nassiri

attorney: Howard | Nassiri, LLP