Mass Attorney General Sues Banks

http://www.usatoday.com/money/industries/banking/story/2011-12-01/Foreclosure-lawsuit/51548142/1

Attorney General Martha Coakley brought suit against the nations' largest banks and it is due time. All too often mortgage holders give homeowners the run-around when they tried to modify their mortgages. The banks accepted federal monies in exchange for their promise to work with homeowners that are lagging behind on their mortgages and they have outright broken that promise. We need to hold them accountable.

Loan Modification Scams

 Unfortunately, with home owners experiencing difficulty paying their mortgages, scam artists have set up shop to prey on them. Be wary of loan modification scams, below is website that give you some helpful tips to spot a potential scam and avoid being another victim of the scam artists.


http://www.loanscamalert.org/
http://www.fdic.gov/consumers/loans/prevention/rescue/
http://finance.yahoo.com/blogs/daily-ticker/avoid-loan-modification-scams-industry-rife-corruption-consumer-20110414-084137-905.html
http://ag.ca.gov/loanmod/

SJC puts Foreclosure Sales in Doubt with new decision

http://www.boston.com/business/articles/2011/10/19/sjc_puts_foreclosure_sales_in_doubt/?p1=News_link

Banks have been increasing cutting corners in the foreclosure process and too ready to throw out homeowners that are behind on their mortgages. I am surprised that national legislation has not addressed this practice, but the Feds have deferred to individual states to set out their foreclosure process. In the decision yesterday, the SJC made it clear that parties looking to foreclose have to take care in doing so and proving ownership is the utmost responsibility of those parties. Straightening out the foreclosure process will be a significant step in improving the overall real estate market and give investors and prospective purchasers confidence in purchasing these properties. 

Bankrutpcy Basics

Massachusetts Chapter 13 Attorneys

Financial problems are extremely common these days. If you are feeling overwhelmed by debt, you have the power to regain control of your financial life. Tanz and Powell helps people in financial distress find debt relief by filing Chapter 7 or Chapter 13 personal bankruptcy.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy allows for discharging your unsecured debt soon after your hearing, creating a fresh financial start. You can eliminate your credit card debt, your medical bills, payday loans and certain personal loans.  To execute this, a court-appointed trustee liquidates non-exempt assets by law, using the proceeds to pay your creditors. As your lawyers, Tanz and Powell will maximize your exemptions, helping you retain the maximum value of your possessions.

To qualify for liquidation bankruptcy, you must provide detail of your income and expenses, as well as pass the bankruptcy means test. Our Boston Chapter 7 bankruptcy lawyers will consult with you, free of charge, to determine whether or not you are eligible for this type of debt relief.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is repayment plan in which your unsecured debt is rolled into one monthly payment that you make over a period of three to five years, based on your income. After the three to five year period, any remaining unsecured debt will be discharged. Chapter 13 dept relief is designed for people with a regular, steady income seeking protection of certain assets, such as a house or car.

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Which Type of Bankruptcy Is Right for Me?

During a free consultation, our attorneys will:

• Evaluate your financial situation, including your income, expenses, assets and liabilities
• Advise you whether Chapter 7 or Chapter 13 bankruptcy is the right option for your needs
• Provide a step by step plan to guide you through the debt relief process

Not all debt can be discharged with bankruptcy. You may still owe taxes, student loans, spousal support, and child support payments. Generally speaking, elimination of other debts allow individuals to more comfortably pay other expenses.

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Start Fresh Financially - Contact A Quincy MA Bankruptcy Lawyer

Email Us or call 617-934-6728  to arrange a free consultation. Our regular office hours are 9:00 a.m. to 5:00 p.m., Monday through Friday. However, evening and Saturday appointments are available upon request.

We have convenient office locations on Hancock st. in Quincy just off the T stop, as well as Worcester, MA.

Our fees are competitive. We accept credit cards.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. 
www.tandplaw.com

HUD Loan Program for Homeowners in Default

There is a great program that is offered by HUD that lends homeowners at up to $50,000 at zero interests to make up payments for mortgages that are in default. The deadline to complete the pre-screening process is July 22, 2011. Unfortunately, the program has been badly promoted and many homeowners do not know about it. Here is a link to the program:

http://findehlp.com/findaforeclosurecounselorEHLP.asp.

For assistance call Tanz & Powell, LLP at 617.481.1726 or on the web at www.tandplaw.com.

What does a Discharge Mean in Bankruptcy?

A Discharge notice means that creditors cannot legally attempt to collect debts that were discharged in the bankruptcy. The Bankruptcy Code provides for civil and criminal penalties for creditors that continue to attempt to collect debts. The issuance of a discharge is usually the final step before the Bankruptcy Court closes out a case. For more information, call our office at 617-481-1726.
http://www.avvo.com/attorneys/02169-ma-fabian-powell-1930809.html
http://www.tandplaw.com/Attorneys/Fabian-E-Powell.shtml

How Can Bankruptcy Help Me?

Bankruptcy can assist a person in several ways, here are a few ways it can help:
(1) Stop home foreclosure;
(2) Help you make up mortgage payments that you have fallen behind on;
(3) Help you make up student loan payments that you have fallen behind on;
(4) STOP COLLECTIONS CALLS;
(5) Help with judgments and/or liens;
(6) Extinguish second  or subsequent mortgages on a residence that has depreciated in value; 
(7) Cram down primary or rental property mortgages to the property's actual value;
(8) Help repay tax bills; and
(9) Discharge most CREDIT CARD DEBT.


  Above are some of the ways that bankruptcy can  help you. If you would like to know more about bankruptcy contact our office at 617.481.1726 and we can answer all of your questions.

*Please note that this blog is solely for informational purposes only and does not create an attorney client relationship. If you have any questions, contact an attorney directly.

False Hope

http://www.boston.com/business/articles/2011/05/02/companies_accused_of_targeting_troubled_homeowners/?p1=News_links

Interesting article regarding how many firms that offer loan modification or mortgage relief do not deliver. If the firm does its homework and provides sufficient evidence and analysis, then the success rates climb dramatically. At our firm, we can show potential clients our software, resources, and the mountain of evidence that we have used in the past to great success.

Feel free to contact our office for mortgage relief at 617-481-1726.

Democrats Broke Pledge to Assist Homeowners

http://www.propublica.org/article/dems-obama-broke-pledge-to-force-banks-to-help-homeowners

Massachusetts Foreclosure are not slowing down

There have been 3,543 foreclosures in Massachusetts in the last two months. The average monthly mortgage payment is $1,781.00. Worcester County had almost twice the amount of foreclosures than any other county, with Suffolk County second place. The median household income in Massachusetts is $59,981 before taxes, so there is no surprise that foreclosures have not fallen off pace. Homeowners have to examine there options before they are faced with a foreclosure.
http://www.foreclosuresmass.com/

Case Result

Client was paying $1,300 per month for their mortgage and we were able to reduce the monthly payment to $570.00 and the interest to 2.87 percent.