they don’t modify they won’t modify it is just another dirty trick to give homeowner false hope. GMAC (ally et al) offered me a mod, sent me the ‘packet’ and when i asked ? @ where is this $ going, what is my balance, is this over, ,, they then called to say i didn’t qualify. somehow they are rewarded again and again for having fraudclosures on their ‘books’ Good luck to all of you. you are in my prayers. God Bless America

I have heard good things about them both, along with Stopa and Weidner!

I am considering taking legal advice the first is KEL Kaufman Englatt & Lynd in Orlando Florida, working on behalf of clients with the banks in obtaining MHA loans for clients.

The second is The Ticton Lawyer group specializing in a litigation program identifying toxic loans and fighting the bank through the court system.

Has anyone any knowledge of these two companies and their record of accomplishment, any help much appreciated.

Thinking further about this…. The issue of if such a clause can be enforced in court….
Seems to me that if the result of the modification is that it does not work out, and they foreclose any way, you have recieved nothing in exchange. They did not lower the orignal intrest or wave it during the application process or the trial modification period.

When they come to foreclose they claim the money paid during a trial is put in a separate account and NOT applied to the principle and intrest on the underlying mortgage. So you end up owing all the missed payments, at the orignal rate, plus intrest, plus penalties for late fees. Late fees even though your modification payments were all on time, because the modification payments were not applied but kept in a separate, non-intrest bearing account.

So exactly what “consideration” did you get in the end out of that “contract” which contains the clause waving your rights? If the modification does not become permanent, is the application an enforceable contract? Lawyers and legal beavers feel free to chime in on that one.

If they cannot accept an application for a trial mod without you waving your rights, then don’t do it. Most modifications never become final, most still end up in foreclosure, so you probably need to preserve all your legal defenses.

You may not know what defenses you have at this time. This is often not discovered until after you are in foreclosure, and your attorney or you have done discovery, examined the documents and taken depositions. So waving your legal rights under an existing contract, which favors the lender to start with, is not a good idea.

There is nothing in the Federal HAMP program that authorizes or requires borrowers to wave their rights to apply or to enter a HAMP modification program.

Such attempts to abuse your legal rights, by getting you to wave them in exchange for nothing, (if you don’t get a permanent modification you got nothing in the end), is unscrupulous and hopefully will not hold up in a court of law.

Great question Debbie.

I too see this BullShit in the mod offers our clients receive.

MERS, Affirmation of the NOTE and all kids of tricks.

It seems that the T.A.R.P rules had language against this although…….
Rules do not seem to bother the CRIMINAL BANKSTERS.

Signing a contract with that, or similar, language is, in my opinion, insane. Even more so when it involves a bank (such paragons of virtue).