“Of course it is dependent on the client’s situation, but we are often able to bring a client’s loan, that is months or even years behind, current and lengthen their loan period out to 40 years in a fully amortized loan.”
Seattle, WA. (PRWEB) February 08, 2013
Advantage Legal Group is offering 3 Seattle area Foreclosure Defense Seminars in February. The Seattle Foreclosure Defense Seminars will cover foreclosure defense strategies, mortgage mediation, deed in lieu of foreclosure, mortgage modification, real estate short sales and the Washington State Foreclosure Fairness Act.
Seattle homeowners facing foreclosure can attend one of three Seattle area informational seminars to learn about the options available in Washington State.
Seattle Area Foreclosure Defense Seminar Schedule for February 2013:
•Bellevue: Saturday Feb. 16th from 10:00 AM to Noon - Coast Bellevue Hotel -
625 116th Ave NE, Bellevue,WA. 98004
•Lynnwood: Monday Feb. 18th from 7:00 PM to 9:00 PM - Lynnwood Convention Center 3711 196th St. SW Lynnwood, WA. 98036
•Tacoma: Wednesday Feb. 20th from 7:00 PM to 9:00 PM - Greater Tacoma Convention and Trade Center - 1500 Broadway, Tacoma, WA. 98402
Individuals facing foreclosure in Seattle or thinking about filing for bankruptcy are encouraged to attend this seminar to learn about all the options in Washington State before making a decision.
Space is limited so attendees are encouraged to pre-register at the Advantage Legal Group website.
Jonathan Smith, whose firm serves most of Western Washington, notes that a great number of his clients are obtaining modified loans through the mortgage mediation process under the Washington Foreclosure Fairness Act. (FFA) which gives the homeowner facing foreclosure the right to force their bank to the mediation table. Washington State was the third state to implement such a foreclosure mediation program after Nevada and Maryland. While the law has been in effect since July 22, 2012, it is estimated that less that 10% of those eligible have availed themselves of the program to date.
The so called “Foreclosure Fairness Act,” gives distressed homeowners working with an attorney or housing counselor, the right to an in-person mediation process to avoid foreclosure of their primary residence. Homeowners cannot request mediation themselves and must request it through an attorney or housing counselor. Many smaller banks and credit unions are exempt if they had less than 250 foreclosures in the state in the previous year.
Many distressed homeowners have seen dramatic reductions in their monthly loan payments. Smith says “Of course it is dependent on the client’s situation, but we are often able to bring a client’s loan, that is months or even years behind, current and lengthen their loan period out to 40 years in a fully amortized loan.” Mr. Smith regularly attains these results for his clients. “It is not unusual for my clients’ loans to be recast at rates as low as 2% interest rate” says Seattle Attorney Jonathan Smith.
Advantage Legal Group is a debt relief agency specializing in foreclosure defense and bankruptcy services under the bankruptcy code. Advantage Legal Group has 2 Seattle area offices in Seattle and Bellevue, Washington.