The recent and dramatic rise in foreclosure activity, fueled in large part by predatory lending practices, has effected everyone, including the Hispanic Communities and other multi-cultural communities. Fortunately, there are specific laws that protect homeowners from these practices, yet the reality is many are unaware.
We have been providing legal services to homeowners in Southern California to stop foreclosure and have had notable success with respect to non-English speaking borrowers. We have found that in many circumstances, borrowers with limited ability to understand English, have been the target for many unscrupulous brokers and lenders. Our hope is to be able to provide assistance to these borrowers.
One, law in particular that is relevant to this group is California Civil Code § 1632. For example, t his statute requires that borrowers who negotiate loan terms with a mortgage broker in Spanish, must receive their loan documents in Spanish.
The reality is this simply does not happen.
The obvious result is that the borrower really is at a significant disadvantage in that they are unable to verify the representations made by the broker.
As a law firm, we typically take these cases on a contingency, which allows borrowers who may not otherwise be able to afford adequate legal representation to have access to this valuable service. We are also in the process of completing our non-profit organization and are waiting for our 5013c tax exempt status. All of us at Homeowners Defense Advocates are excited to provide additional educational and legal services. Our goal is to see these predatory lending practices exposed and corrected. We hope to build alliances with various organizations who share the same consumer oriented perspective.
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Best Regards,
Moe Bedard
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;)
Great work you're doing!
Most people just sign when told "firme aqui" (sign here)
Good luck to you!