SB 94 Threatens the Rights of Citizens
By Sean Rutledge
The people behind SB 94 claim that it protects Americans who are working hard to achieve the American dream. Unfortunately, while SB 94 comes out strongly against unscrupulous businesses, it also attacks the very people whose job it is to represent our citizens. Unless it is stopped, this bill will force ordinary citizens to represent themselves during the complex foreclosure process. The result: more foreclosures and more homeless Americans.
Supporters of the bill claim that Obama”s administration put plans in place to help and that modification scam artists are diverting consumer attention from legitimate sources of assistance. The reality is that the government programs have done little to provide real solutions to honest citizens.
In an article on ML-Implode, feature columnist Martin Andelman reported that roughly seven months into the Homeowner”s HOPE(tm) Hotline HUD just one mortgage had been modified.
Legal foreclosure prevention services, on the other hand, offer a genuine service to the consumer. These services also pose a significant threat to banks. United Law Group helped over 500 families since January of this year. For Gail Talbert of Los Angeles, CA this meant a principal reduction of $207,186 and a modification of mortgage terms from an ARM at 9.00% to a 30-year fixed loan at 5.875%.
“United Law Group saved my house,” said Ms. Talbert. “I stopped making my payments in October because I couldn”t keep up. When the bank called to hassle me I told them I had a law firm helping me. They didn”t bother me again. Retaining United Law Group was the smartest decision I ever made.”
Ms. Talbert works as an electronics inspector for a Los Angeles based company. She had been out of work for several months prior to getting this job and had fallen behind on her payments. Upon learning that Gail hired a company to help her with her stave off foreclosure many of her family and friends became concerned.
“Folks told me I”d been scammed,” said Ms. Talbert. “But I kept the faith. I got a good feel from the people at United Law Group. The attorneys were smart. They stayed in contact with me and worked hard to get the bank to do right by me.”
Ms. Talbert, and countless others like her who made the choice to work with a law firm like United Law Group understand the difference.
“United Law Group protected my rights,” said Ms. Talbert. “I had a negative amortization loan with a payment of $2,198 that was increasing annually. I had no equity and couldn”t make my payments. United Law Group got the bank to reduce my principal and my payments dropped to $1,652 on a 30-year fixed loan. Now I can stay in my house and sleep at night.”
Enabling homeowners to retain experts to negotiate loan modifications is not in the best interest of the banks. These institutions prefer dealing directly with consumers who lack the knowledge of the law and skills to negotiate with trained professionals because it gives them the upper hand in the negotiations. SB 94 sets people up to suffer at the hand of predatory banking practices.
About The Author
Sean Rutledge represents both plaintiffs and defendants in civil litigation with an emphasis on consumer protection and consumer rights as it pertains to real estate law. As the Managing Director at United Law Group (http://www.UnitedLawGroup.com), he manages the firms” Manhattan and Irvine offices.