SANTA ANA, CA — (Marketwire) — 03/06/12 — It was almost two years since Mr. Carillo was able to make his variable $3900 a month interest-only payment. For two years Carlos worked with Ocwen to get a .
Several times, his lender-s resulted in him making temporary trial payments with an empty promise for a Loan Modification that never materialized, yet Carlos never received an explanation as to what happened to all those payments he made in good faith.
On 10/20/2011 he expected yet another promised Loan Modification but what he received instead was a : his home was to be auctioned off on 11/14/2011.
In November of 2011, Carlos was referred to who immediately Prequalified Carlos for a while they performed a () that flagged the N.O.D. as illegal based on State Law.
According to Gary Lane, President and Supervising Attorney for CPAC (DE), “Most people don-t realize that the decision makers are not necessarily the Servicing Companies people make payments to. Often these Mortgage notes have been sold; some several times in bundles for far less than face value. Banks sell the Note to one another for a discount, yet they rarely grant a struggling homeowner a loan Modification voluntarily. I think that should be Criminal and I approach them in that light. Not only the Servicer but we eventually find who the true Note Holder is. We bring them into the process one way or another; if it-s not through our efforts we-ll leave it up to the courts.”
Gary Lane continues, “That-s why I believe our system, process and proprietary software are so effective where others fall short, that coupled with a staff of industry professionals that really want to make a difference and will do what it takes.”
On 02/09/2012, CPAC (DE) secured a settlement that Mr. Carillo wasn-t expecting. His $577,272.00 mortgage that had a variable payment of $4,516 was permanently lowered down to $1,481.51 at 2% for the life of the loan. As an added bonus, his final Loan Balance will only be $287,150.01 — a Permanent Principal Balance Reduction of $ 249,522.31.
Fabricio Baca
800-643-4637