Thursday, April 26, 2012

Loan Modification Settlement with Residential Credit Solutions

Shuster & Saben, LLC has reached a  Loan Modification Settlement with Residential Credit Solutions.
Old Payment:  $1,240.00
New payment: $961.17

Another Shuster & Saben client will keep their home thanks to a loan modification reached with RCS, Residential Credit Solutions.  After being turned down for a HAMP loan modification and after a year of litigation, RCS offered our client a non-HAMP loan modification reducing his interest rate from 8.8% interest to 4.625%.  Our client who is over 65 years of age and is retired will save over $275.00 of interest a month.   The firm successfully defended the RCS foreclosure action for approximately thirteen months before the loan modification was offered.  Our client’s investment in foreclosure defense will save him over $50,000.00 over the duration of his loan.

Thursday, April 12, 2012

Firm Obtains $12,695.00 Judgment against Wells Fargo


After winning yet another foreclosure action against Wells Fargo and their counsel, Florida Default Law Group, foreclosure defense attorney Richard Shuster has obtained a judgment for attorney’s fees and costs in the amount of $12,695.00.  Homeowners should understand that hiring foreclosure attorneys who actually win cases as opposed to merely trying to slow a bank’s case down makes good financial sense.  In a foreclosure case, when the bank or loan servicer loses the case the bank has to pay the homeowner’s attorney’s fees.  Money from the judgment against Wells Fargo will reimburse legal expenses previously paid by the firm’s client. 

Fighting cases to win, rather than to lose slowly requires more time and effort on the attorney’s part.  Hiring a firm that attempts to win cases might cost a little more in the beginning but in cases where the homeowner wins their case and recovers fees from the bank and in many cases settled under favorable terms the investment in a sophisticated foreclosure defense pays off for the homeowner. 

To review a redacted copy of the final judgment for attorney’s fees please click the link below.

About Shuster & Saben:  Shuster and Saben, LLC knows the difference between real foreclosure defense and knee jerk stalling.  Savvy homeowners in foreclosure who want more than a cookie cutter foreclosure delay can consult with one of our attorney’s for free.  Since we regularly go to court on our client’s cases, we don’t take cases in Tampa or the Panhandle that are beyond the reach of our firms offices.  We do accept cases from Miami to Jacksonville on the east coast and in Orange, Seminole, Collier and Lee counties.  We know who the top foreclosure lawyers are in parts of the state where we do not practice and gladly make referrals.  Thanks for reading our blog.  We would love to put your case in a future post.   

Thursday, April 5, 2012

Settled in a Flash, Shuster & Saben obtains loan modification for 85 year old client.

An eighty-five year old homeowner came to the Melbourne office of Shuster & Saben caught between a rock and a hard place.  Her property insurance company dropped her because she did not replace a thirty-year-old electrical panel in her home.  When her lender learned that her property insurance was not renewed it replaced the old insurance policy with a force-placed policy costing nearly quadruple the price.  The client could not afford to pay both her mortgage and the cost of replacing her electrical panel.

The client’s sole source of income was Social Security and she did not have savings available to pay for the expensive home repair.  The client had tried on her own, for months, without success,  to obtain a loan modification from her mortgage servicer. Prior to the filing of a foreclosure action, firm attorney Richard Shuster advised her that she since she could not obtain other insurance coverage until she replaced a dangerous, outdated, electrical panel and she could not afford force-placed coverage she had no other choice but to miss a few mortgage payments and use the money that to fix her home.  The client was encouraged to speak to the lender and let them know her situation.  Hopefully the homeowner could fix her electrical box and obtain a loan modification before the loan servicer brought a foreclosure action.

Unfortunately the loan servicer filed a foreclosure action after the client missed several payments.  When the servicer filed the foreclosure action, the client did not have sufficient funds to pay the firm’s usual fees for foreclosure defense and was given a hardship discount.  After being retained the firm moved to dismiss the foreclosure action and submitted a loan modification package for the borrower.  Less than sixty days after being hired, the firm has obtained a HAMP loan modification that will lower the client’s interest rate from 6% to 2.25%  The client has fixed her electrical box.  Shuster referred the client to top insurance agent to obtain a new insurance policy to replace the force-placed insurance policy obtained by the loan servicer.  With swift proactive representation designed to solve problems, the firm has helped another client save their home.

About Shuster & Saben:  Shuster & Saben tailors its approach to each clients unique situation with a goal of solving problems and protecting our clients home and assets.  If you want more than cookie-cutter foreclosure delay, a free consultation (for homeowners in foreclosure) is a phone call away.