LegalFaces.com

Has the economic climate forced the banks to give more loan modifications?

The economic climate is forcing more banks to do loan modifications because they have more and more foreclosures on their books, and it’s not a good thing. It’s really what’s driven the market to be where it is right now, that’s required this bailout by our government, iIs because you have so many non performing loans. And the truth of the matter is that many of these borrowers were able to make their payments in the past, but were unable to keep up with their payments when the interest rates adjusted through the roof. So if we just bring those interest rates back down, it’s going to solve a lot of the problems. If we extend the term of the loan from thirty to fourty years, and maybe drop the principal down a little bit, many – if not all – of these borrowers will be able to make the monthly payments on their loans. My name’s Damion 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 economic climate mortgage debt relief predatory lending foreclosure bankruptcy lawyer law firm attorney Orange County Los Angeles California Howard Nassiri

attorney: Howard | Nassiri, LLP

How does the financial crisis effect debt settlement programs?

The current climate may make it easier to get a debt settlement, because the economic situation we’re dealing with now is financial institutions that are failing. And they’re failing because they need liquidity, they need money. Debt settlement is a way for them to get this money. Some money is better than no money. So, where as maybe in the past they may have been slow to settle certain consumer accounts, now they’re going to speed it up and do that - because they need that money given their financial situation, if they’re in a bad way. I’m Vincent Howard, senior and managing partner of Howard Nassiri. We work hard every day, representing the consumer, from our headquarters in Orange County, California. If you need an attorney you can trust, go ahead and give us a call.

tags: debt settlement current crisis debt relief predatory lending loan modification foreclosure bankruptcy lawyer law firm attorney Orange County Los Angeles California Howard Nassiri

attorney: Howard | Nassiri, LLP