Under the new foreclosure laws effective 09/06/2008, in California, lenders must give a new notices of  foreclosure before filing Notice of Default and wait 30 days.  Also, they must contact the borrowers in person or by telephone, and assess their financial situation, and attempt to modify mortgage to prevent foreclosures.  This is now a legal requirement for banks before they could foreclose your home.  If they have filed Notice of Default or Notice of Sale after 09/06/2008 without discussing foreclosure avoidance plan, then they have breached their obligations under the law.  You could actually stop the foreclosures by obtaining a court injuncton against wrongful foreclosues.  Banks will generally be inclined to settle such suits by accepting livable terms of the home mortgage for you and your family.

Also banks may consider various hardships that befell upon you such as divorce, injury, relocation, job loss and other catastrophes beyond your control.  In such a case, we could put together convincing and financially correct modification applications demonstrating your current ability to pay amounts so that the monthly payments as well as any defaulted amounts could be either forgiven or re-amortized into the loan.  We have financial professionals, including ex-bankers, mortgage brokers and loan consultants to work as a team to put together the best hardship based loan modification applications.

Banks' willingness to assist the home owners have become increasingly easier to come by, due to the avalanche of bank failures at alarming rates.  Federal government has accelerated its pressure upon lenders to stop or the refrain from foreclosures, if at all possible, as foreclosrues further cause home prices to plummet, cut off cash flow to banks, create dangerous conditions with unoccupied houses, and let already-depressed economy further spiral down in an uncontrollable abyss.

The most important thing for you the home owner to do is to open up a dialogue with your mortgage lenders.  Come talk to us and we will start up that conversation with your bank.  Lenders such as Countrywide, previously sued by California Attorney General for predatory lending, along with Bank of America, who purchased the servicing rights of Countrywide, have put a voluntary moratorium on foreclosures and is actively engaging in various forms of loan modifications.  Other banks are following suits.

Time is not on your side, however.  As soon as the housing market stabilizes through aggressive anti-foreclosre policies and massive bail-out funding, your opportunity to re-write the terms of your mortgage may cease for good.  You need to act now.

Loan Modification requries serious professionals  who know how to deal with the lenders in today's harsh housing market climate.  If you are behind in your home mortage payments or find it hard to keep up after the rates have reset, please call us at 213-639-3888.  Or, please e-mail with your spectfic situation to info@choicelaw.org. 

Addtional Services that we can offer: 

Credit Card Debt Negotiations

Chapter 7 & 13 Bankruptcy
(By law all junior liens on homes under water, or higher mortgage balances
    than value of homes can be "lien stripped");

Credit Score Improvements through Fair Credit Reproting Act

Extension or Delay of Eviction
through strategic eviction defense and/or bankruptcy

Our Commitment
At Law Offices of Gene W. Choe, P.C., we treat our clients with courtesy and integrity. We guarantee efficient, honest loan modification service that achieves remarkable results.  Our years of experience and notable expertise ensure that you are in good hands.