It is bad enough when a family has to deal with the agony of trying to avoid losing a home due to the bad economy, but it really makes our blood boil when we read about criminals who prey on people in this situation who are struggling to survive. Today’s news about the arrest of three Californians for suspected mortgage fraud is about as a sad a story as we have read in a long while.
It is probably too late to help the victims of the alleged mortgage fraud crimes described in the article above (even if they win a civil lawsuit, the damage is done), but it may not be too late for you to avoid losing your home if your lender is trying to repossess it, due to being in default on your mortgage payments.
We have previously written about the options that exist to help owners of distressed property, including loan modification, short sale, and foreclosure. The bottom line regarding any decision you make is that your final choice should be made with a full understanding of your options and all of the short- and long-term legal, financial, and lifestyle ramifications you can expect with each.
If you are currently deciding what to do about your distressed property, the first thing you should do is read the California Attorney General’s consumer warning about loan modifications and loan audits, to learn how to avoid the mistakes of others.
If you need solid, trustworthy legal and financial counsel about a distressed property, the Law Offices of Connie Yi, P.C. is uniquely qualified to help you, because Connie Yi is a San Francisco Bay area loan modification attorney, as well as a highly-experienced Certified Public Accountant and a licensed real estate broker. With her deep understanding of the current housing market, Connie can help you determine and implement the best legal and financial strategy for effectively dealing with troubled property.
To schedule a free consultation about a loan modification and other options you may have to keep your home, please contact us. For your convenience, we have four conveniently located offices in the Bay area: San Francisco, San Mateo, San Jose, and Pleasanton.
The holiday season is in full swing, so tomorrow on our radio show, we will discuss “Charitable Gifting.” Please, tune into this timely upcoming show on Saturday, December 3, at noon, on AM 1220 KDOW.