We are seeing homeowners with good jobs and decent incomes fall into default due to significant increases in their mortgage payments. Subprime is no longer just the culprit. Adjustable Rate Mortgages are now forming the next wave of foreclosures
San Jose, CA (PRWEB) April 13, 2009
The Homeowners Law Group announced the launch of its workshop series, free Home Retention Workshops. Homeowners who are behind on their mortgage payments or those whose monthly mortgage payments are expected to spike, will benefit from the insights and options provided.
The next workshop is scheduled on Saturday, July 25, 2009 at 2025 Gateway Place, Suite 205
San Jose, CA 95110 from 10:00am - 11:00am and again from 1:30pm - 3:00pm. To learn more, visit: HomeownersLawOffice.com/workshop
Attorney Hung D. Nguyen, Homeowners Law Group's lead attorney, will be hosting the presentation. Topics such as the Obama Plan, California foreclosure timeline and foreclosure prevention options will be covered.
With 8 million homes projected to go into foreclosure over the next 3 - 4 years in the U.S., loan restructuring is expected to be the leading solution to keep families in their home. By negotiating monthly mortgage payments down to affordable levels, homeowners can successfully take their homes out of delinquency and look towards a more comfortable future.
California homeowners who took out loans or refinanced using Adjustable Rate Mortgages (ARMs) or Negative Amortization (NegAm) loans are especially vulnerable once their mortgage payments reset to a higher level.
As the foreclosure crisis widens, lenders have historically been slow in working with homeowners to resolve their mortgage default issues. One of the options to be covered during the presentation is for homeowners to explore the benefits of retaining legal counsel to negotiate on their behalf and secure lender cooperation in the negotiation of their loan terms.
"We are seeing homeowners with good jobs and decent incomes fall into default due to significant increases in their mortgage payments. Subprime is no longer just the culprit. Adjustable Rate Mortgages are now forming the next wave of foreclosures", according to Attorney Nguyen, Lead Attorney.
A list of non-profit organizations that provide housing counseling will also be provided during the workshop so homeowners can look into as many possible sources of assistance.
About Homeowners Law Group:
Homeowners Law Group is a law office exclusively dedicated to representing clients negotiate loan workouts of their mortgages. Its practice is limited to California homes.
Hung D. Nguyen, Attorney-at-Law
Homeowners Law Group