Another Successful Trustee Sale Reversal gets a Permanent Lo...| MENAFN.COM

Wednesday, 19 January 2022 12:00 GMT

Another Successful Trustee Sale Reversal gets a Permanent Loan Modification

(MENAFN- GetNews) by Consumer Defense Law Group thru the assistance of the Nonprofit Alliance of Consumer Advocates.

Costa Mesa, CA – October 29th, 2021 – Hugh Johnson purchased his home of 15 years for $1,149,000.00 in 2006 in Torrance, CA. Like the rest of the U.S., he too was affected by the last economic downturn caused by the Mortgage Meltdown of 2007.

Even though Mr. Johnson was doing everything he could to stay afloat his lender recorded the first Notice of Default on his home on 10/06/10. Setting off a string of close calls. He went from catching up to going back into default in 2010 through the last and most recent Notice of Default recorded on 6/01/19.

After many attempts to work with his lender on his own to unsuccessfully get him a loan modification, all while paying both Licensed Attorneys and unlicensed foreclosure consultants, he was eventually foreclosed upon on 7/21/2021. His house was sold at the Trustee Sale Auction for $1,695,613.

Fortunately for Mr. Johnson, he contacted the Nonprofit Alliance of Consumer Advocates, a Faith Based Loss Mitigation Nonprofit Legal Clinic that focuses on financial literacy, homeownership preservation, and affordable housing. The Nonprofit Clinic primarily helps troubled Homeowners trying to avoid default and those wanting to become Homeowners. Charging their clients nothing for their expert services and only requesting donations of a few bags of canned goods and non-perishables. These voluntary goods are donated to Veterans OC Outreach who help house and feed our US Homeless Veterans. In addition, the Nonprofit Clinic asks the consumer for a commitment to give them first right of refusal on their next Real Estate & Mortgage transactions.

In addition, since Mr. Johnson had already lost his home at his lender’s Trustee Sale auction on 7/21/21, a Loan Modification was not possible since one cannot modify a home that doesn't belong to them. The Nonprofit Clinic quickly got Consumer Defense Legal Clinic involved and thru their extremely swift but very aggressive legal proceedings the House was finally reverted into Mr. Johnson's name and a final Trustee Sale Rescission was recorded on 10/01/21.

Anthony Cara who is the Principal Managing Attorney for Consumer Defense Law Group was not only able to successfully reverse the Trustee sale but with the collaboration of Attorney Peter Nisson, Sr. Legal Services Director of the Nonprofit Clinic, Mr. Johnson finally received a permanent Loan Modification at a fixed 3.5% Principal & Interest Payment of $4,610.00 on a $1,700,260.00 Loan as part of their settlement.

If facing challenges making the mortgage payment or simply wanting to lower the monthly payment even if in default facing a Trustee Sale, the Nonprofit Alliance of Consumer Advocates needs to be the next call. Their Senior Directors have been helping homeowners as well as those wanting to become Homeowners for more than three decades. The Nonprofit counts on Direct Lenders, Real Estate Brokers, Private Investors, Lender Liability Wrongful Foreclosure & Bankruptcy Attorneys, Retired CPA's as either Directors or 3rd party alliances.

Contact them by visiting their website   or calling 855-NACA-HELP


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.