California resident battled foreclosure of her home with a securitization audit that strengthened her legal defense in court.
Cheyenne, WY -- (SBWIRE) -- 11/13/2013 -- Homeowners across America have been heavily impacted by the shifting economy and consequentially many have fallen behind on their loans. As foreclosure looms ominously in the distance many fear there is nothing they can do to change their situation.
Alicia Ibarra was a California homeowner facing a pending sale date in October 2013. She approached a law firm to assist her in her foreclosure defense. The law office immediately hired Paladin to conduct a securitization audit to investigate the potential improper practices in loan servicing by Ocwen Financial Corporation. The audit reflected the lender had no proper beneficial interest in the loan or standing to foreclose. A complaint was filed on September 25th, 2013 and Ocwen Financial Company was served with the following causes of action; Breach of Contract- Third Party Beneficiary, Constructive Fraud, Fraud and Deceit, Violation of California Civil Code Section §2923.5, Violation of California Civil Code Section §2923.6, Violation of California Civil Code Section §2923.7, Promissory Estoppel, Negligence, Negligent Misrepresentation, Violation of Business and Professional Code Section 17 200, Et Seq.
Ibarra’s attorney submitted to Ocwen and received a settlement offer on October 29th, 2013. Ocwen proposed the removal of the foreclosure from listing as a sale, a 43% ($202,000) reduction in principal, a 33% (4 point) reduction in rate from 6% to 2% and a payment savings of 48% ($1,636.79) per month. Additionally terms were added to amend the loan to state, that after five years or 60 months rate steps to 4.28%, which is a 29% reduction in rate from the original terms at 6%. This settlement was accepted on November 6th, 2013. In a little over a month Ibarra’s attorney was able to negotiate the cancellation of their foreclosure and won nearly half of their home loan in the settlement.
Paladin is currently offering a free consultation to see if a securitization audit is right for your specific situation. The number for the free consultation is (877) 848-8088. Or for more information, you can visit their website at www.securitizationauditservices.com.
About Paladin Securitization Auditors
Paladin Securitization Auditors offers trial ready audits to homeowners, attorneys, and commercial property owners.