Suffering an Unfair Job Loss is Tough, our california employment attorneys can help.

Protesters Call on Chase to End Foreclosures and Pay Allegedly Overdue Property Taxes

August 13, 2010

A recent article about protest marches on Chase banks throughout California caught the eyes of our Ontario loan modification lawyers. As Watsonville's Register-Pajaronian reported Aug. 12, protestors in that city and many others, including Los Angeles, marched on the banks to call attention to what they saw as the banks' willingness to take public money and do business in a way that harms families and communities. The marchers were upset about the continuing wave of foreclosures facing Californians, despite efforts to promote loan modifications and short sales instead. They also criticized the bank for taking "bailout" money in September of 2008, yet failing to pay millions in property taxes on properties they acquired during the bailout.

The march was tied to a report released Aug. 10 by the Alliance of Californians for Community Empowerment. That report said Chase and other banks were paying too little in taxes because the properties they have acquired during the financial crisis have not been reassessed, costing local California government entities millions of dollars. In April, the assessor-recorder for San Francisco, Phil Ting, made similar allegations, saying his city was owed $1 million by financial companies. The California Tax Reform Association has put that figure at $11.8 million for San Francisco and $50 million for the state as a whole. The Chase protesters said this was unacceptable for a bank that had taken taxpayer money in the bailout. They also cited mistakes or abuses by Chase in loan modification efforts by individual homeowners. A Chase spokesperson said borrowers don't have trouble getting loan modifications if they meet federal standards.

As Norco loan modification attorneys, we know from experience that this is not true. Throughout the housing crisis, we have heard firsthand, and read many articles, about lenders who repeatedly lose paperwork, ignore calls, give their borrowers contradictory information and make other very basic business mistakes. These are not mistakes that are targeted at people who don't meet HAMP standards -- they are indiscriminate mistakes, and many of them happened to people already enrolled in HAMP. As we've written here many times before, we've come to believe that lenders do this because they simply don't want to make loan modifications. Rather than admit it and accept the negative PR, some have chosen to string along borrowers, giving them false hopes for a loan modification the lender never intends to grant. The protesters have every right to be disturbed that a lender would do this while simultaneously accepting government money.

Howard Law PC has represented borrowers seeking a loan modification since the beginning of the housing crisis. We have substantial experience negotiating aggressively with lenders, including lenders who gave their own borrowers a "runaround" when they tried to negotiate a loan workout directly. Even in this type of situation, we're proud to say that our Lake Forest loan modification lawyers have been able to negotiate changes to the loan's structure, interest, repayment period and more. In cases involving subprime loans, we have sometimes been able to convert them to conventional loans. In all of these cases, we prefer to work outside of court -- but that doesn't mean we won't t file a lawsuit if we believe our clients' rights were violated. Our goal is to keep our clients in their homes whenever possible, with a reasonable and sustainable monthly mortgage payment.

If you're sick of struggling to get your lender to even consider a loan modification, you should call Howard Law for help. To learn more or set up a free consultation, call us toll-free at 1-800-872-5925 or send us a message online.