Great results are coming in fast and furious these days, so I decided to tell the tale of two recent cases we’ve had. First is the matter of Mr. Hackett, a Vietnam War veteran, who first came into our office on April 5. He had a sheriff’s sale date set in the foreclosure on his $64,000 mortgage on April 19, just two weeks away. The case went to such an advanced state because Mr. Hackett suffers from a number of health problems (attributable to his war service), which inhibited his ability to properly defend himself. So we faced what was an unbelievably horrific possibility – a man who sacrificed so much for his country in providing for our safety and security, now being in imminent danger of losing the one possession providing his own safety and security, his home.
It was obvious that the first item of business in protecting Mr. Hackett was to file the appropriate motions with the court to vacate the sale so that the court would have time to consider our motion to vacate the foreclosure judgment itself. Our argument for vacating the judgment was, as we see so often, based on the bank’s fraud in obtaining it. Thankfully, the court vacated the sale, which almost immediately led to the bank totally backing down by making Mr. Hackett a great loan modification offer, an offer which will keep Mr. Hackett safely and securely in his home for good.
The second tale is that of Mr. Will, whose success story took a little longer to unfold, but ended with a result no less dramatic. Mr. Will first came to see us in April of last year. At that time, he was not yet in foreclosure, but certainly heading in that direction as his $1,050 per month payment was requiring him to work an excessive amount of hours just to be able to keep up with his mortgage payments. Being elderly, this situation was not sustainable for Mr. Will in the long term.
Not being in foreclosure, we employed the “proactive approach” in Mr. Will’s case, aggressively going back to his bank, pointing out to it its illegal treatment of him. With that we were able to at least gain its attention, and engage it in the workout process. A year later, the results of the process are no less than astounding. His monthly payments have been sliced by more than half, from $1,050, to $523! That reduction will allow Mr. Will to take a little time off work, and enjoy his golden years. I believe the lesson in both of these stories is that it is never too late, or too early, to fight to save your home. You must engage the bank vigorously pointing out the errors of its ways, while at the same time being willing to work with it in good faith when you’ve gotten it to the point where its willing to do the same with you.
Copyright 2013 Daniel L. McGookey