California Attorney's Loan Modification Plan Saves Homes & Stops Foreclosure, Obama Plan Disappoints...One Woman's Story

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In spite of the Federal Government's insistence that consumers merely "contact their lender" to receive a Loan Modification, success is rare. Elva Loera of Moreno Valley, CA speaks about her family's ordeal and the Attorney who saved her home from foreclosure with his new, proprietary Loan Modification Solution.

I really didn't know how we would ever survive or when we would work again.

Like many hard-working Americans today, Elva Loera's life was turned upside down when she was forced to close down her small business. With little savings to offset a cash flow crisis, her family's long-term financial future was suddenly in jeopardy. Unfortunately, the worst was yet to come as Elva's husband also lost his job. "I have always taken pride in meeting my obligations," said Elva. "I really didn't know how we would ever survive or when we would work again."

Despite their efforts to find employment, the Loera family were unlikely victims of a shrinking economy as they struggled to replace lost income. With resources beginning to dissipate, Elva contacted her lender for assistance as she began to slip further behind on her mortgage. According to Loera, "My lender made promises and never followed through. I kept hearing about how the government programs would provide relief, but my lender didn't care. I had nowhere to turn."

Several months later, Elva received a Notice of Default from her lender and a Trustee Sale date was set to auction her home to the highest bidder. "This is the home where my kids had grown up and they were taking it away without offering any help. I was angry and frustrated and had no choice but to move out of my home." With but a few days remaining before the auction, a friend of Elva's suggested that she contact an attorney she had heard about, Joseph Hoats and his recently announced, Homeowner Stability Solution. With nothing to lose, she called Hoats to see if there was any hope for relief from her desperate situation.

Utilizing a contact with Elva's lender, Hoats and his Loan Modification team persuaded them to postpone the impending sale date and began serious negotiations. Combining his proprietary approach, including aggressive negotiating techniques and a litany of legal strategies, Hoats provided Elva with renewed hope. Said Elva, "I am a fighter and I never gave up hope…I prayed every day and my belief in a positive outcome never wavered."

Racing against the clock, the persistence of this unflappable California homeowner paid off abundantly. Within days of the second scheduled Trustee Sale date, Attorney Hoats contacted Elva with the first positive news she had heard in months as the lender finally agreed to settle the prolonged ordeal. The settlement not only took care of Mrs. Loera's back payments and penalties, it provided her with a fully amortized, 30 year, fixed rate mortgage at 3.689%, down from her original rate of 7.676%. This huge payment reduction provided a long-term solution to her cash flow problem and new the peace of mind that had eluded her for almost one year. Today, Elva has a new successful business and once again resides in her beloved home with her family. "I can sleep again, and I never take anything for granted. I will forever be grateful to Joseph Hoats for saving my home. He is not just my attorney, he is my friend."

Hoats commented, "Elva is not unlike our typical client who has experienced some financial hardship…a job loss, income reduction, divorce or medical problem that makes it difficult to pay the monthly mortgage payment. Like Elva, these are good, hard-working, family-oriented Americans who have fallen on hard times, through no fault of their own, and they need compassion, help, and a legal game plan to save their home."

While Elva's story has a happy ending, millions of Americans continue to be ignored by their lenders and the Federal Government as foreclosures continue to rise. Hoats concludes, "Without experienced legal representation that has deep working relationships with key lenders, consumers will continue to fail in their efforts to personally facilitate a successful Loan Modification. At Homeowner Stability, it is all about our client…we are focused on lasting solutions that are in the best interest of the consumer, not just the lender's best interest."

About Joseph Hoats:
With over 20 years of experience as an Attorney, Joseph Hoats has worked for the rights of the consumer throughout his career. Working together, his team of dedicated professionals has perfected the Loan Modification process with the introduction of their proprietary Homeowner Stability Solution…a systematic approach responsible for keeping hundreds of distressed Homeowners in their homes and avoiding foreclosure.

Joe is a graduate of Vanderbilt University and has practiced law for over two decades. He has litigated in the areas of Real Estate Law, Bankruptcy Law, Foreclosure and Loan Modification, Trust Law, Probate Law, Business Law and has extensive experience with Litigation in State and Federal Courts. He is an active member in good standing with the State Bar of California, State Bar #141599.

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