Kevin Hanly, Esq., LLC has been actively involved in foreclosure defense since 2009. Our upfront analysis indicated that our clients were not going to get a fair shot from the lenders/servicers unless we could show that we were ready, willing and able to take our adversaries to the mat. We focused on fighting foreclosures in court- litigating each step of the foreclosure process through appeal, if necessary. We started to win cases for our client. We also saw the law develop. For awhile, in 2010 and 2011 (especially in the bankruptcy court), it appeared that the decisions were favoring borrowers. The robosigning scandals brought many foreclosures to a halt.
However, in the last 15 months, the pendulum is swinging to the other side. More decisions favor lenders especially in the areas of the Fair Foreclosure Act and setting aside default judgments. Judges are disallowing certain discovery. It does not make it impossible to win in court- only more difficult and more expensive.
With straight foreclosure litigation becoming more “iffy”, Kevin Hanly, Esq., LLC started looking for alternatives for our clients. In certain situations, a Chapter 13 bankruptcy can provide both flexibility and leverage to the borrower with a steady income, especially in dealing with second mortgages and condo liens.
You have heard us attack the mortgage modification process. Documents were lost, cases were dual tracked (you were told that your modification is being processed while at the same time the lender, through his attorney, is marching to sheriff sale), permanent modifications never materialized, and the courts took a hands off policy to these activities. Except in rare situations, our policy was to mediate or enter in modification negotiations only after we engaged in aggressive litigation.
Well, since the late fall of 2012, the modification process seems to be getting somewhat better. The so- called $25 billion settlement (or “DOJ settlement”) is leading to some reductions in principal and stronger activity on second mortgages. The MHA revisions from the late fall of 2012 led to a new HAMP Handbook which shows much more flexibility in getting modifications both for residences and rental property. Principal reductions are possible. Fannie Mae, Freddie Mac, FHA and VA still will not reduce principal; however, their guidlelines are more user friendly. Moreover, the programs have been extended to December, 2015.
We at Kevin Hanly, Esq, LLC use all of the tools available to keep you in your home- foreclosure litigation, bankruptcy, and modifications. Once we have analyzed your situation, we put together a plan and bring together a team of lawyers and expert witnesses to guide you and to fight for you.
Come in for a consultation. Scheduling is flexible and the modest fee will be applied to your retainer. You have nothing to lose and can save your home. But, remember, time is not on your side! The lender is not sitting on its rights. You should not sit on yours.