Confused by Mortgage Bankers, Homeowner Faced With Foreclosure Gets a Chase Loan Modification After Filing Lawsuit Against Wells Fargo, Bear Stearns and MERS
(firmenpresse) - SANTA ANA, CA -- (Marketwire) -- 12/16/11 -- In 2008, Mr. Armando Carillo, like many across America, realized his finances looked bleak; he was running out of reserves! Concerned about the $3000 a month payments he'd been making for years, while still current he contacted Chase for help. He was told that he needed to be at least 2 months delinquent to get help.
With depleted reserves, unable to maintain the variable rate payment that was scheduled to go up even further over time, and since his lender would not accept any partial payments and full payments were not feasible, he had no choice but to miss a few payments. With relief, he contacted Chase to finally get the help he was previously told about. A voluntary lender loan modification, where the lender simply lowers the interest rate to make the loan payments more affordable, sounded simple.
County records show a Notice of Trustee Sale was recorded on 10/13/2010. Surprisingly, the Notice named Wells Fargo Bank, not Chase, which he had assumed was his lender. Why now Wells Fargo? He contacted Wells Fargo and he was informed they could not help him, he needed to contact guess who? Yep, you guessed it Chase Bank!
Frustrated, he contracted Consumer Protection Assistance Coalition, a Non Profit Law Clinic known to have the highest count of Individual Lender Lawsuits against major lenders like Wells Fargo, Chase Bank, Citi, BofA, One West Bank, GMAC, Litton Loan, Aurora and US Bank, just to name just a few.
According to Superior Court Case # VC057344 Carillo et al vs. Wells Fargo Bank, Bear Stearns and MERS, the complaint alleged various legal violations committed against Mr. Carillo long before a payment was ever missed. These violations as well as the 'hidden' parties were identified for Mr. Carillo for free long before the case was filed in Court seeking either a Jury trial or one of several settlements that would be acceptable to Mr. Carillo in exchange for a Case dismissal.
On November 10th 2011 Armando Carillo signed a permanent Loan Modification agreement sent from Chase via Consumer Protection Assistance Coalition dropping his payment from $3000.00 on a variable rate, down to a permanent principal and interest rate on a fixed term loan with a $1,026.71 payment.
Fabricio Baca
800-529-0678
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 16.12.2011 - 05:15 Uhr
Sprache: Deutsch
News-ID 97775
Anzahl Zeichen: 0
contact information:
Town:
SANTA ANA, CA
Kategorie:
Legal
Diese Pressemitteilung wurde bisher 4469 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Confused by Mortgage Bankers, Homeowner Faced With Foreclosure Gets a Chase Loan Modification After Filing Lawsuit Against Wells Fargo, Bear Stearns and MERS"
steht unter der journalistisch-redaktionellen Verantwortung von
Consumer Protection Assistance Coalition (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
