At Omojola & Associates, we appreciate the value of the American Dream, and we know that it is really a Human Dream. The desire for a house to call home is a common wish that all people have. We understand that sometimes people fall on hard times. Many homeowners are having difficulty for reasons beyond their control, and not due to any fault of their own. The foreclosure epidemic has inspired us to develop Foreclosure Defense as a niche practice, to help as many homeowners as possible to keep their homes and to protect this Human and American Dream.
Securitization of Mortgages
Foreclosures are not new to the law, neither is the securitization of mortgages. However, the improper securitization of mortgages that has caused the current foreclosure epidemic is a new twist in foreclosure law. Securitization of mortgages is the process by which mortgages are turned into stocks and shares to be sold on Wall Street, such as mortgage-backed-securities or asset-backed-securities.
The problem in recent years is the industry-wide conduct of improper securitizations, lack of due diligence, and violation of fundamental property laws and financial principles. With the implosion of the housing market and the ensuing foreclosure epidemic, many of these stocks and shares issued in connection with securitized mortgages lost value and became known as toxic assets.
There is a probability that a mortgage underwent securitization if the mortgage was originated between 2001 and 2007. Banks and lenders committed several violations with mortgage securitization, and these violations may provide leverage for a homeowner represented by an attorney who speciliazes in foreclosure defense and securitization. At Omojola & Associates, you could have a free consultation with a lawyer to review your mortgage documents for evidence of securitization and bank violations.
You don't have to lose your home, file for bankruptcy, or ruin your credit history with a short-sale. The goals of the Foreclosure Defense practice at Omojola & Associates are to help a homeowner in mortgage default or facing foreclosure to:
- Stop the lender or loan servicer from calling your home and harassing you, as soon as possible
- Help you to keep your home
- Gain a significant principal reduction
- Reduce the interest rate on your mortgage
- Reduce your monthly payments
- Preserve your credit history
Remember that most loans issued between 2001 and 2007 were securitized, and there may be bank violations in connection with securitization that can help a homeowner in foreclosure litigate against the lender. If you or a loved one is facing foreclosure, you need a lawyer who understands the banks' violations and can help you get the best possible solution. At Omojola & Associates, you could have a free consultation. A Certified Secutitization Auditor and an Attorney who specializes in Foreclosure Defense will review your mortgage documents, and check for evidence of securitization or possible bank violations. If you or a loved one is in mortgage default or facing foreclosure, contact us today for a free consultation.
We also offer to help with foreclosure issues on commercial properties. Be sure to contact us today if your commercial property is in mortgage default or if you are facing foreclosure.
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