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 Costa Mesa, Ca – 13 Apr, 2017 – Douglass & Lolita Randall were just one of thousands of Homeowners seeking help from their Lender with no
assistance in sight. Many homeowners spent an untold amount of scarce funds to hire Loan Modification companies to attempt to negotiate lower
payment terms.

Although lenders may cite exaggerated success ratios the reality of the true success ratio on voluntary loan modifications were previously
documented to be lower than 2%, leaving as high as a 98% failure ratio.

This was also very true for Douglas and Lolita Randall. Failing time after time trying to work with their lender on a voluntary basis the Randall’s like
many thousands of others felt they had no real alternative to being foreclosed upon so they hired a Law Firm to file a Consolidated Group Lawsuits
also known as a Mass Joinder.

Douglass Randall turned out to be their lead plaintiff in a huge Mass Joinder Lawsuit against his lender along with hundreds of other co-plaintiff
homeowners seeking to retain homeownership. Unfortunately what appeared to be a sure fire solution only really served the purpose of prolonging the
inevitable Trustee Sale due to procedural court motions.

You see the Randall’s Mortgage was not the right type of ‘Servicer Owned’ loan that the U.S Governments 2012 National Mortgage Settlement Decree
covered. Unfortunately like 85% of all the loans originated from 2002 thru current date it was originated as a Mortgage Backed Securitized Loan and
the $25 Billion dollar settlement that the U.S Government accepted from the Mortgage Bankers only covered 15% of all Loans Originated as ‘Servicer
Owned’ Loans.

The Nonprofit Alliance of Consumer Advocates discovered that the U.S Government accepted a $25 Billion dollar settlement from those very same
Investors who owned a specific type of Investor Owned Mortgage Loans. Those loans represented 85% of all Loans Originated in the United States
and were to be EXCLUDED from the relief the National Mortgage Settlement claimed to accomplish.
Stands to reason why the failure rate for voluntary loan modifications before the Home Affordable Modification Program (HAMP) expired on
12/31/2016 was at one time as high as 99.64%.The simple fact that a Servicer was not at many times allowed to modify a loan that they did not own
may be the reason you could not get the assistance you needed.
The Nonprofit Alliance of Consumer Advocates was able to search for, obtain and review what is called the Master Servicing and Pooling Agreement
and the Trust Prospectus;each may contain up to 900pages, looking for a small but very consistent paragraph that clearly states that the Loans in
these Trusts were not able to be modified.
After 10 long years of torment, without paying the Nonprofit Alliance of Consumer Advocates any fee, the Randall’s went from owning $449,977.31
and $141,245.94 in delinquent missed payments of $2,806.99 on a variable rate loan down to a new Loan Balance of $354,677.68 owing ZERO in
missed payments at a 3% fixed Principal and Interest payment of only $1,269.69.

You can find the Randall’s testimonial as well as many others with similar results on the Nonprofit Alliance of Consumer Advocates web site
www.NACAlaw.org or you can call (855) NACA HELP , that’s 855-622-2435.

Media Contact

Company Name: NACALaw
Contact Person: Ines Faguas
Email: Send Email
Phone: 626-534-2277
Country: United States
Website: www.nacalaw.org

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