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When you are in foreclosure, you will be contacted by many companies offering to "assist you" in staying in your home, doing "short sales" or 'deeds in lieu of foreclosure". This is probably one of the worst periods of your life with your home on the line, so how can you possibly cut through the truth in the promises being made to you?
Of course, we, as other companies, want to have your business. But the differences between the Debt Advocacy Center ("DAC") and the others are great and should be considered before making a decision. |
Who We Are
The DAC was founded by attorneys with years of fighting abusive lending. Our founder works closely with Andrew Cuomo, the Attorney General of New York, to investigate predatory lending practices and is co counsel on a number of class action lawsuits against lenders.
What We Are
We are a team of attorneys and loan underwriters who, although not acting not as attorneys, but as negotiators, still owe an attorney's ethical obligation to represent only your interests under their Canon of Ethics.
What We Do
We negotiate, from a position of strength, as explained below, to obtain a substantial modification of your loan or, if desired, a waiver of lenders' rights against you after foreclosure. Unlike our competitors, we are not satisfied to simply reinstate your present mortgage and spread your arrearages over a period of time. We go for what you can really afford!
How We Do It
a. We use the threat of litigation, to stall the process and negotiate, based on presenting the facts of the origination of your loan, which often include violations of Truth in Lending, the Real Estate Settlement Act, your state's Unfair and Deceptive Practices Act and may be a breach of contract and even fraudulent.
b. The key is to take the enormous amount of time and arguments to get to the right person with whom to negotiate. That is the holder of the loan and not the "servicer" with whom you have dealt and who has no authority for a substantial modification.
c. We do a full workup of your budget and underwriting standards to make sure you can qualify for the modification that we want.
Our Guarantee
We give a 100% guarantee that we will bring you an offer from your lender and that, if we do not feel, in good faith, that you can be helped we will return your money. But unlike our competitors, our guarantee is the least you will obtain. More important is that we get you a modification that makes your payment affordable.
What Else We Do
We create what your tax preparer needs to avoid negative tax consequences on any forgiveness of debt from the negotiations. We also give you the tools to raise your credit score. This normally costs hundreds of dollars but is included with our price. If you want to do this yourself we give you a very inexpensive kit that tells you exactly what to do.
Lastly, if the modification you want cannot be achieved, we assist you in finding affordable counsel that will defend you in court.
At End
If you just want to reinstate your loan and spread your arrearage, you can retain anyone or, better yet, do it yourself. If you want a company that will fight for you with tools that have the best chance of success; an advocate that spends enormous time representing you under a real Code of Ethics and is honest and forthright, you need consider the Debt Advocacy Center.
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