Foreclosed Senior Citizens facing Homelessness hire Consumer Defense Law Group with a possible -$1,740,840.00 mortgage reinstatement deficiency and wind up with a check for $208,272.11 and approval to re-purchase home.
COSTA MESA, Calif. August 20, 2018 — Richard Nishimoto of Los Angeles California, age 70, received his May 7th, 2018 “Mortgage Statement” which reflected a reinstatement amount of $2,690,841.82. When the estimated value of the Home was only $1,179,000.00, leaving Mr. Nishimoto and his two elderly siblings (ages 80 and 78) with a negative equity amount of -$1,511,841.82.
Since 2010, Mr. Nishimoto and his family wrestled to keep their family’s home of 48 years. This involved hiring many unscrupulous companies and attorneys that charged outrageous fees. Some of them forced Mr. Nishimoto to forfeit his valuable watches that they asked for as a “good faith” deposit.
After being instructed to file multiple bankruptcies including a Chapter 13 and a Chapter 7 just to delay the inevitable Auction of their home the Property was eventually foreclosed on May 11, 2018 and sold to the highest bidder at $950,000.00 which left the Nishimoto’s with a deficit of -$1,740,841.82 from their last reinstatement amount.
With no money to relocate, Mr. Nishimoto was concerned he would be unable to rent a home for his two elderly siblings and himself due to damaged credit brought on by the defaulted Mortgage. Mr. Nishimoto was now understandably suffering from depression and anxiety. What made matters worse is Mr. Nishimoto was now getting bombarded by various foreclosure consultants offering eviction delay services with no written guarantees of any additional time in the home, but they all wanted to collect exorbitant upfront fees that these siblings did not have.
Richard Nishimoto was directed to a web site, www.NACAlaw.org, that belongs to the Nonprofit Alliance of Consumer Advocates, a faith-based not for profit legal clinic that focuses on homeownership retention for families experiencing financial distress under the legal direction of Attorney Peter Nisson, a prominent appellate level Attorney licensed for 44 years. Mr. Nishimoto sent an email on May 31st and it was immediately responded to by a home retention advocate. It was immediately identified by the Nonprofit Alliance of Consumer Advocates staff that Mr. Nishimoto needed specialized Legal Services that may offer Richard and his two elderly siblings more than just eviction delay. What the Nishimotos’ needed was an experienced Litigation Law Firm who also has experience in potential Elderly Abuse as well as possible Wrongful Foreclosure.
Richard Nishimoto agreed to engage in the zero out of pocket bundled legal services of Attorney Tony Cara’s Consumer Defense Law Group www.CDlawgroup.com on June 4, 2018. On July 25, 2018, funds were wired into the Nishimotos’ bank account in the amount of $208,000.00. Attorney Peter Nisson’s Nonprofit Alliance of Consumer Advocates then referred and introduced the Nishimoto’s to Faith First Bancorp & Real Estate that got them pre-approved to immediately purchase a single story 3 Bedroom/2 Bathroom home where the Nishimotos’ won’t have to make any payments for the rest of their lives while Tony Cara’s Consumer Defense Law Group continues to investigate Mr. Nishimoto’s case further.
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Consumer Defense Law Group, PC