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Hello, I would like to introduce myself and my law firm to you. I am a long time east valley resident and a licensed attorney for the past fifteen years. During that time, I have worked hard to build my reputation as an aggressive advocate for my clients who offers honest and well reasoned legal advice. I represent people the way I would want to be represented myself.
As a former United States Marine, I am absolutely committed to excellence. I have always returned all telephone calls and e-mails the same day they are received. I do everything I say I am going to do; in all cases and at all times. In short, I have built my solid reputation on old fashioned and well established principles.
I have recently expanded my law practice to representing clients in both home and commercial loan modification matters. A loan modification could save you thousands of dollars over the course of your loan and substantially lower your monthly payments. My law firm can carefully and honestly evaluate your circumstances to determine what course of action may be appropriate for you. There may be many legal options available for you to consider.
The loan modification and debt settlement industry is burdened with unprofessional and unscrupulous sales people. Retaining an experienced and established law firm to determine your options can be of great benefit to you, and may greatly enhance your ability to improve your financial circumstances. I am an experienced trial tested attorney who has successfully represented thousands of clients in complex matters in both state and federal courts. All clients are treated with the respect, fairness and professionalism expected of a law firm. All matters are handled with confidentiality.
My law firm currently accepts new clients in the following areas of law: Criminal Defense; Bankruptcy; Personal Injury; Wrongful Death; Loan Modifications; Debt Settlement; Civil Rights; and Commercial Litigation. As a client of Marc J. Victor, P.C., you can rest assured your matter is being handled properly.
Please feel free to contact my law firm at 480-786-4454 to discuss whether you qualify for representation. The law firm of Marc J. Victor, P.C. may be able to obtain a substantial reduction of your mortgage payments regardless of credit history, income or employment status.
Attorney Marc J. Victor will be holding a free monthly seminar discussing Loan Modification, short sales, bankruptcy and other legal options that are available to homeowners that are struggling in the current economic crisis.
Attend this free seminar and you will be able to learn about all your options as well as speak with an attorney about your specific case. Refreshments will be served and there is no charge to attend and speak with an attorney.
Our next seminar will be held at the Loan Modification Department of the Marc J. Victor law firm in Chandler from 7:00-9:00 pm on Wednesday, April 22nd.
Address- 3145 South Price Road Suite #110 Chandler, AZ. 85248
(Cross streets are Queen Creek and Price)
Phone- 1-866-330-3466
http://www.attorneyforloanmods.com
If you are in need of an attorney for other legal matters unrelated to loan modification, please visit our other website.
Mr. Victor has provided criminal attorney representation in Chandler, Mesa, Phoenix and all of Arizona since 1994. As an attorney in Phoenix he has been consistently interviewed by the press as a legal expert. He has been quoted numerous times on television, radio and in newspapers. Mr. Victor has presented many lectures on the criminal justice system. He has lectured to judges, prosecutors and police officers. He has authored several articles on the criminal justice system, some of which have been published nationally and recognized internationally.
http://www.attorneyforfreedom.com
Federal law now requires lenders to comply with certain timelines regarding loan modification inquiries. Section 6 of The Real Estate Settlement Procedures Act "RESPA" requires lenders to acknowledge receipt of a Qualified Written Request "QWR" within twenty (20) days. Additionally, lenders are now required to respond to a QWR within sixty (60) days. A properly executed QWR may also protect the borrower from having information about past due payments reported to certain credit reporting agencies by the lender.
However, not all inquiries constitute a QWR for RESPA purposes. A lender's failure to comply with the requirements of RESPA may give rise to damages, costs and attorney's fees payable to the borrower by the lender. The law firm of Marc J. Victor, P.C. is experienced with RESPA requests and will aggressively invoke the rights and protections of RESPA on behalf of all loan modification clients. The following contains more specific information about RESPA.
(1) Notice of receipt of inquiry
(A) In general
If any servicer of a federally related mortgage loan receives a qualified written request from the borrower (or an agent of the borrower) for information relating to the servicing of such loan, the servicer shall provide a written response acknowledging receipt of the correspondence within 20 days (excluding legal public holidays, Saturdays, and Sundays) unless the action requested is taken within such period.
(B) Qualified written request
For purposes of this subsection, a qualified written request shall be a written correspondence, other than notice on a payment coupon or other payment medium supplied by the servicer, that-
(i) includes, or otherwise enables the servicer to identify, the name and account of the borrower; and
(ii) includes a statement of the reasons for the belief of the borrower, to the extent applicable, that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.
(2) Action with respect to inquiry
Not later than 60 days (excluding legal public holidays, Saturdays, and Sundays) after the receipt from any borrower of any qualified written request under paragraph (1) and, if applicable, before taking any action with respect to the inquiry of the borrower, the servicer shall-
(A) make appropriate corrections in the account of the borrower, including the crediting of any late charges or penalties, and transmit to the borrower a written notification of such correction (which shall include the name and telephone number of a representative of the servicer who can provide assistance to the borrower);
(B) after conducting an investigation, provide the borrower with a written explanation or clarification that includes- (i) to the extent applicable, a statement of the reasons for which the servicer believes the account of the borrower is correct as determined by the servicer; and
(ii) the name and telephone number of an individual employed by, or the office or department of, the servicer who can provide assistance to the borrower; or
(C) after conducting an investigation, provide the borrower with a written explanation or clarification that includes- (i) information requested by the borrower or an explanation of why the information requested is unavailable or cannot be obtained by the servicer; and
(ii) the name and telephone number of an individual employed by, or the office or department of, the servicer who can provide assistance to the borrower.
(3) Protection of credit rating
During the 60-day period beginning on the date of the servicer's receipt from any borrower of a qualified written request relating to a dispute regarding the borrower's payments, a servicer may not provide information regarding any overdue payment, owed by such borrower and relating to such period or qualified written request, to any consumer reporting agency (as such term is defined under section 1681a of title 15).
(f) Damages and costs
Whoever fails to comply with any provision of this section shall be liable to the borrower for each such failure in the following amounts.
(1) Individuals
In the case of any action by an individual, an amount equal to the sum of-
(A) any actual damages to the borrower as a result of the failure; and
(B) any additional damages, as the court may allow, in the case of a pattern or practice of noncompliance with the requirements of this section, in an amount not to exceed $1,000.
(2) Class actions
In the case of a class action, an amount equal to the sum of-
(A) any actual damages to each of the borrowers in the class as a result of the failure; and
(B) any additional damages, as the court may allow, in the case of a pattern or practice of noncompliance with the requirements of this section, in an amount not greater than $1,000 for each member of the class, except that the total amount of damages under this subparagraph in any class action may not exceed the lesser of-
(i) $500,000; or
(ii) 1 percent of the net worth of the servicer.
(3) Costs
In addition to the amounts under paragraph (1) or (2), in the case of any successful action under this section, the costs of the action, together with any attorneys fees incurred in connection with such action as the court may determine to be reasonable under the circumstances.
(4) Nonliability
A transferor or transferee servicer shall not be liable under this subsection for any failure to comply with any requirement under this section if, within 60 days after discovering an error (whether pursuant to a final written examination report or the servicer's own procedures) and before the commencement of an action under this subsection and the receipt of written notice of the error from the borrower, the servicer notifies the person concerned of the error and makes whatever adjustments are necessary in the appropriate account to ensure that the person will not be required to pay an amount in excess of any amount that the person otherwise would have paid.
(g) Administration of escrow accounts
If the terms of any federally related mortgage loan require the borrower to make payments to the servicer of the loan for deposit into an escrow account for the purpose of assuring payment of taxes, insurance premiums, and other charges with respect to the property, the servicer shall make payments from the escrow account for such taxes, insurance premiums, and other charges in a timely manner as such payments become due.
(h) Preemption of conflicting State laws
Notwithstanding any provision of any law or regulation of any State, a person who makes a federally related mortgage loan or a servicer shall be considered to have complied with the provisions of any such State law or regulation requiring notice to a borrower at the time of application for a loan or transfer of the servicing of a loan if such person or servicer complies with the requirements under this section regarding timing, content, and procedures for notification of the borrower.
The Mortgage Forgiveness Debt Relief Act of 2007
In cases where a lender decides to forgive all or a portion of a borrower's debt, the forgiven amount is normally considered income for the borrower and is subject to taxation. However, The Mortgage Forgiveness Debt Relief Act of 2007 may operate to eliminate or mitigate such tax liability. This tax benefit is limited to primary residences. Consultation with a qualified tax advisor is necessary to determine whether a borrower qualifies for this tax benefit.
Disclaimer
The information contained herein is provided for general information purposes only and is not intended to convey a legal opinion or legal advice for any particular case or specific situation. Nothing in this website shall create an attorney-client relationship. Representation does not commence until a fee agreement is signed and the fee is received. The law firm of Marc J. Victor, P.C. cannot guarantee any particular result regarding your loan modification. As such, nothing contained in this website should be construed to be a guarantee or prediction of result.
Marc J. Victor, P.C.
3145 South Price Road, Suite 110
Chandler, Arizona 85248
Main : 866-330-3466
Fax : 480-857-0150
Email: mike@AttorneyForLoanMods.com
Attorneys Marc J. Victor and Thomas Dean discuss loan modification and the importance of using an attorney in all loan modifications.
Part 2-
http://www.youtube.com/watch?v=QODfPRir8FA&feature=channel
If you are currently behind on your mortgage, please call us immediately so we can take action to protect your legal rights. Addressing your situation promptly and professionally may increase your chances of obtaining a favorable loan modification and avoiding foreclosure. Call today for a free, no obligation consultation with one of our loan modification paralegals.
The law firm of Marc J. Victor, P.C. will aggressively undertake all best efforts to secure a loan modification for its clients which may result in any of the following:
- Lowering mortgage payments;
- Forgiveness of past due amounts; or
- Reduced interest rates
Attorneys Marc J. Victor and Thomas Dean discuss loan modification and the importance of using an attorney in all loan modifications.
Part 1-
http://www.youtube.com/watch?v=ZPfUKgdJmu4&feature=channel_page
If you are currently behind on your mortgage, please call us immediately so we can take action to protect your legal rights. Addressing your situation promptly and professionally may increase your chances of obtaining a favorable loan modification and avoiding foreclosure. Call today for a free, no obligation consultation with one of our loan modification paralegals.
The law firm of Marc J. Victor, P.C. will aggressively undertake all best efforts to secure a loan modification for its clients which may result in any of the following:
- Lowering mortgage payments;
- Forgiveness of past due amounts; or
- Reduced interest rates
As you may expect, home mortgage loan mitigation is not a one size fits all endeavor. The universe of possible solutions is vast. As such, the law firm of Marc J. Victor, P.C. will thoroughly review your circumstances and desires before recommending a course of action. Your financial circumstances, existing loan documentation and legal rights will be reviewed and considered. We will work with you to achieve a solution which fits for you and your family. The staff of the law firm of Marc J. Victor, P.C. have many combined years of experience in the mortgage loan industry. While other organizations may simply submit a loan modification request, which may be ignored by the lender, we actively and aggressively negotiate the most advantageous solution for our clients.
In many cases, we can contact your lender and get them to delay the foreclosure process without filing bankruptcy. Such a scenario allows us the opportunity to negotiate a "win win" resolution for both sides. Foreclosure is generally a very costly option for lenders. In certain instances, a modification of the existing loan is a good solution. Depending on circumstances, a deed in lieu, also known as "cash for keys" or "walk away" may be the right solution to keep a foreclosure off your credit report. There are many possible solutions to resolve a situation where a homeowner is either behind on payments or likely to fall behind in the near future. Such possible solutions include a modification or restructuring of the terms of your current loan to lower your mortgage payments, a recapitalization and principal balance reduction, a rescission of your current loan (up to three years) or a lawsuit against the mortgage company for predatory lending violations if determined to be appropriate after a proper loan document audit. There are many other possible resolutions as well. Our staff of loan modification professionals will assist you to determine which possible option is best for you.
Currently, Aurora, Citibank, Chase, Countrywide, GMAC, Litton, Wachovia and WAMU are among the major lenders routinely offering loan modifications. Although many lenders are willing to consider loan modifications, many lenders are unable to keep pace with the current demand for loan modifications. Even in cases where the borrower is currently in default, a lender offered forbearance agreement may not be the best resolution for the borrower. The law firm of Marc J. Victor, P.C. may be able to stop foreclosure by negotiating a loan modification; even in cases where a previous forbearance agreement has failed. Because we process many loan modification requests, our current relationships with lenders and loan servicing companies may allow us to bypass overwhelmed loss mitigation personal and negotiate directly with asset and portfolio managers as well as the lender's legal department.
In order to secure a loan modification, the law firm of Marc J. Victor, P.C. will make use of the tools provided by federal law. Such federal tools include both the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). Both state and federal laws require mortgage companies to adhere to certain guidelines when originating home loans. Some existing mortgage loans have TILA and/or RESPA violations. When such a violation is determined to have occurred, the law firm of Marc J. Victor, P.C. will utilize such violation as leverage to negotiate a favorable resolution for our clients. Generally, lenders will seek to avoid costly litigation and are more agreeable to reaching voluntary solutions when such violations are identified and brought to their attention by qualified law firms.
During times of real estate booms, some brokers and lenders engage in unfair or illegal practices to close loans. An example of these practices may include charging unexplainable or unreasonable fees and charges. Other examples include not fully explaining interest rate adjustments, pre-payment penalties or the implications of option ARM loans with minimum payment options. Additionally, some brokers and lenders illegally inflated or otherwise manipulated financial statements to qualify buyers who would otherwise not have qualified for their loans. Simply refinancing out of these inappropriate home mortgage loans is now generally not an option because of declining property value or debt to income ratios.
The law firm of Marc J. Victor, P.C. can help to identify if you have been the victim of such an issue. In such a case, we can attempt to resolve these issues fast and efficiently so the borrower doesn't fall victim to foreclosure proceedings. Helping stop foreclosure and restoring financial stability for our clients is our main goal.
There are additional reasons to conduct a detailed review of the client's mortgage home loan documents. If a lender fails to properly provide adequate notice of the borrower's right to cancel, the right of rescission may be available to the borrower for up to three years. When such right is extended for three years, the borrower may be able to rescind the loan during such period. In such a circumstance, the loan is treated as if it never existed. Essentially, the borrower becomes entitled to all profits made by the lender as a result of the loan. As such, the lender or other creditor would be required to refund all interest paid, all closing fees, all broker fees, and even pay the borrower's attorney fees. This circumstance can create a legitimate windfall to the borrower. The extended right of rescission is a powerful tool to assist borrowers who have been victims of predatory lending. The law firm of Marc J. Victor, P.C. can assist in determining if such a right exists and will assist its clients in exercising such right in appropriate circumstances.
Mortgage and loan servicing companies generally do not want your home and most will work diligently with a law firm to avoid foreclosure. Litigating mortgage fraud and predatory lending cases can become costly for both sides and should be avoided unless the lender will not comply or there are significant damages to the borrower. Our clients retain us to make a best effort at resolving their hardship and to fight for their rights. In most cases, the client's goal can be realized without costly litigation by using existing relationships to find an amicable resolution to stop foreclosures.
A loan modification proposal offered by a law firm may result in a more favorable loan modification agreement than your lender will offer you directly. Many modifications offered by mortgage lenders and loan servicing companies are forbearance agreements and are not a true modification to the terms of your mortgage. These types of agreements generally do not benefit the borrower in the long term and home owners facing foreclosure should consult with a law firm and fully understand the terms and ramifications before signing any of these documents.
In cases where neither refinancing nor a loan modification is a possibility, a short sale or a deed in lieu may be among the best options to both avoid foreclosure and a deficiency judgment. The law firm of Marc J. Victor, P.C. can help borrowers navigate through the possible options to determine which resolution is best for your particular circumstances. A real estate short sale occurs when the lender agrees to discount the loan balance and accept the sale proceeds in full satisfaction of the outstanding debt. In such cases, the lender has the right to approve or disapprove of the proposed sale. Lenders are generally inclined to agree to a short sale if they determine such action will mitigate losses as compared to foreclosure. The advantages of a short sale to the borrower include avoiding a foreclosure reported on credit history and mitigating or eliminating a possible deficiency. A short sale is generally faster and less expensive than a foreclosure. In summary, a short sale is a negotiation with a lender resulting in a payoff less than what is currently owed.
Not all lenders are equally amenable to short sales. Many lenders have pre-determined criteria for such transactions. Distressed lenders may accept any reasonable offer. However, junior lien holders such as second mortgages, HELOC lenders, and HOA (special assessment liens), may also need to approve of any short sale. Objectors to short sales sometimes include tax lien holders (income, estate or corporate franchise tax - as opposed to real property taxes, which have priority even unrecorded) and mechanic's lien holders. It may be possible for junior lien holders to prevent a short sale. Additionally, lien holders who are not mortgagees are generally unlikely to forgive the debts owed to them.
While a short sale appears on a borrower's credit report differently than a foreclosure, a short sale may nonetheless have severe consequences for the borrower in the future. A short sale may appear on a borrower's credit report as "foreclosure proceedings started." While not a foreclosure, a short sale may prevent the borrower from obtaining a new mortgage for seven or more years. Short sales are complex matters which should be handled carefully by experienced professionals.
The loss mitigation industry is a recent advent and has become large as a result of the current economic and real estate crisis. The loan modification industry is currently inundated with marginally qualified or unethical individuals, who are essentially salespeople, who have accepted fees in exchange for half hearted efforts or no efforts at all to provide loss mitigation services, loan modification or stop foreclosure services. As such, several states are currently considering legislation which requires attorney involvement for loan modification requests.
Some companies offering loan modification services claim to be "attorney backed" or "attorney based" in their marketing. In such a case, borrowers should be aware they are not contracting with or engaging the services of a law firm. Some companies simply hire an attorney for consultation to claim an association with an attorney. In such a case, the attorney does not represent the borrower and the company is not bound by the same ethical duties required by licensed attorneys. Additionally, no attorney client privilege exists with such a company and statements made to them are discoverable. To be sure, the borrower is encouraged to request to speak personally with the attorney. All clients of the law firm of Marc J. Victor, P.C. have the ability to discuss any aspect of their case, the fee agreement, the refund policy or the performance policy directly with Marc J. Victor. Our law firm has a long established history of fully satisfied clients, and we will do nothing to compromise that reputation.
IMPORTANT NOTICE
"Attorney based" loan modification companies are not law firms. As such, when you discuss the details of your mortgage with these companies, there is no attorney client privilege. Any conversation you have with a non-law firm loan modification company is discoverable by a state agency and not protected by attorney client privilege and therefore not confidential. Prosecuting agencies have become much more aggressive recently in bringing prosecutions for mortgage fraud based on overly optimistic or inflated representations regarding income or monetary reserves at the time of qualifying for the loan. Therefore, if you are concerned that statements you made on your mortgage loan application could be construed as false and you are at risk for foreclosure, please contact the law firm immediately and ask to speak directly with Marc J. Victor. Do not discuss this issue with anyone other than a licensed attorney.
Disclaimer
The information contained herein is provided for general information purposes only and is not intended to convey a legal opinion or legal advice for any particular case or specific situation. Nothing in this website shall create an attorney-client relationship. Representation does not commence until a fee agreement is signed and the fee is received. The law firm of Marc J. Victor, P.C. cannot guarantee any particular result regarding your loan modification. As such, nothing contained in this website should be construed to be a guarantee or prediction of result.
Marc J. Victor, P.C.
3145 South Price Road, Suite 110
Chandler, Arizona 85248
Main : 866-330-3466
Fax : 480-857-0150
Email: mike@attorneyforloanmods.com
As many homeowners are painfully aware, the national housing market has suffered from one of the worst economic crises in the history of our nation. Not only have home values declined sharply in recent years, many homeowners have suffered drastic reductions in income as well. As such, countless Americans now find themselves either presently unable or likely to become unable in the near future to meet the financial obligations of their home loans.
Due to this widespread problem, many lending institutions find themselves in the position of having to sell substantial numbers of foreclosed properties in an effort to recover funds from homeowners unable meet the obligations of their loans. In many cases, it is in the interest of the lending institution to voluntarily renegotiate the terms of a home loan rather than foreclose on the property. Because the homeowner generally desires to remain in possession of the home, loan modification has become a "win win" scenario in these cases.
The law firm of Marc J. Victor, P.C. represents borrowers throughout the nation who desire to modify the existing terms of their home loans. Such modifications are common in cases where the borrower is either presently unable to repay the loan on the existing terms or is likely to have such an issue in the near future. Successful loan modifications may include a reduction in the rate of interest, forgiveness of a past due balance, lower monthly payments, an extension of the loan's term, an entirely different type of loan, a fixed interest rate rather than one subject to adjustment or some combination of these modifications.
The law firm of Marc J. Victor, P.C. will initially assess a potential client's financial circumstances to evaluate the likelihood of obtaining a favorable loan modification. Representation will be declined in cases where the potential client is unlikely to obtain a favorable loan modification. Such an analysis may include a careful review of the potential client's income statements, investment accounts, bank accounts, tax returns, original loan documents and other financial data. Specific hardship facts will also be analyzed and considered.
If a client is accepted for representation, the law firm will begin the process of organizing the financial and hardship materials for presentation to the relevant lending organization. The materials will accurately be presented to the lender in the light most favorable to the client for the purpose of securing a favorable loan modification.
Marc J. Victor is an experienced jury trial tested attorney who has represented numerous clients in complex federal mortgage fraud cases both in Arizona and out of state. Mr. Victor has a well deserved reputation for rendering straight forward legal advice. Mr. Victor has successfully represented bank presidents, loan officers, mortgage brokers and escrow agents in high profile federal mortgage fraud matters. As such, Mr. Victor is experienced in identifying, negotiating and litigating a wide variety of federal mortgage violations.
Given the current economic realities, now could be the best time to explore the possibility of a loan modification. The law firm of Marc J. Victor, P.C. will initially determine whether your current circumstances enable you to have a reasonable likelihood of obtaining a favorable loan modification. The law firm of Marc J. Victor, P.C. will only accept your case if there exists a reasonable likelihood of a successful loan modification. If your case is accepted, our written fee agreement will clearly state that the law firm will promptly refund the full amount of the fee in the event the law firm is unable to secure a loan modification which equals or exceeds five times the amount of the fee."
The loan modification industry is currently inundated with marginally qualified or unethical individuals, who are essentially salespeople, who have accepted fees in exchange for half hearted efforts or no efforts at all. As such, several states are currently considering legislation which requires attorney involvement for loan modification requests. Additionally, having your case presented by a well established law firm may result in a substantially more favorable result for you.
Marc J. Victor, P.C. is a well established law firm with locations in both Chandler, Arizona and Scottsdale, Arizona. Marc J. Victor, Esq. is an attorney licensed to practice law in Arizona. Mr. Victor is also admitted to practice in federal court and has appeared in courts both in and out of Arizona in complex mortgage fraud matters. Should your case be accepted, the law firm of Marc J. Victor, P.C. will immediately invoke your legal rights to obtain your original loan documents for review from your lender and commence negotiations on your behalf to attempt to obtain a modification of your home loan. Your lender will be legally obligated to respond in a timely manner to our demand. Any modification may include a reduction in the rate of interest, forgiveness of a past due balance, lower monthly payments or a fixed interest rate rather than one subject to adjustment.
All clients are treated with the respect, fairness and professionalism expected of a law firm. All matters are handled with confidentiality. Your loan modification is an important matter. Marc J. Victor has been an attorney in good standing since 1994. He has personally represented thousands of satisfied clients. As a client of Marc J. Victor, P.C., you can rest assured your loan modification matter is being handled properly. The law firm of Marc J. Victor, P.C. also has a criminal defense division. Feel free to visit our criminal defense website at www.AttorneyForFreedom.com
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