MORTGAGE FORECLOSURE DEFENSE WORK 1 MORTGAGE FORECLOSURE DEFENSE WORK.
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•MORTGAGE FORECLOSURE DEFENSE WORK 1 •MORTGAGE FORECLOSURE DEFENSE WORK
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Transcript of MORTGAGE FORECLOSURE DEFENSE WORK 1 MORTGAGE FORECLOSURE DEFENSE WORK.
•MORTGAGE FORECLOSURE DEFENSE WORK
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•MORTGAGE FORECLOSURE DEFENSE WORK
Legal Aid of NC, Inc.
Legal Aid of North Carolina is a statewide, nonprofit law firm that provides free legal services in civil matters to low-income people in order to ensure equal access to justice and to remove legal barriers to economic opportunity
Legal Aid Services 1) representing clients to ensure
that the community has equal access to justice;
2) performing outreach to make the community aware of its rights; and
3) providing education to empower the community to develop its own legal strategies and to defend its rights by itself.
Client Profile(s) Fall below 125% of FPG Fall below 200%) of FPG for
mortgage foreclosure cases of the federal poverty guidelines.
3.5 million financially-eligible people (30% of NC pop.)
Yr-2008, MI= $9,000, [living wage=$25,626 ]
LANC Profile 130 attorneys and 125-member
support team I 24 geographically-based covering
100 counties 6 statewide projects* [Advocates
for Children’s Services; Battered Immigrant Project; Domestic Violence Initiative; Farmworker Unit, Legal Aid of NC; Senior Law Project; Mortgage Foreclosure Prevention Project]
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•MORTGAGE FORECLOSURE DEFENSE WORK
Mortgage Foreclosure Defense Work
Mortgage Foreclosure Prevention Project -- (MFP)
Mission: [Asset Retention] Represent Low-Income Families
Who Live in NC and Are Faced With Possibility of Losing a Primary Residence
Staff Profile: 5 attorneys 3 paralegals
Staff Services Consult. & Asst. to Local Offices
Case Strategy Document Review (legal
claims) Research/Pleadings Co-Counseling Lost Mitigation [Loan
Modification]* Direct Litigation*
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•MORTGAGE FORECLOSURE DEFENSE WORK
0 20 40 60 80 100 120
2004
2005
2006
2007
2008
2009
# of Cases
Yea
r Prevented Foreclosure
Did NOT Prevent Foreclosure
No Foreclosure Proceeding
Foreclosure Not Applicable
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Mortgage Foreclosure Defense Work [Con’t]
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•MORTGAGE FORECLOSURE DEFENSE WORK
No Loans Coming Through Project Have Been Lost Through Foreclosure*
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•MORTGAGE FORECLOSURE DEFENSE WORK
Housing Counselors
(Loss Mit. Counseling)(Loan Mod*)
LANCMFP Project
(Legal Defense & Loss Mit.Case Consultation & Prep. Asst.)
LANCNFMC Project
(Loan Mods.)
LANCLocal Offices
Legal Defense & Loss Mit.)
LANC Volunteer Attorney Network
Legal Defense & Loss Mit.)
NCHFA & CCCS - Greensboro
LANC Eligible/Non-Qualifying NFMC
LANC Eligible
LANC Eligible
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DEFENSE WORK
LANC MFP Project
LANC NFMC Project
Aggressive Collection/Review of Loan Docs
Intensive Assessment of Financial Position
Intensive Assessment of Extenuating Circumstances
Intensive Assessment of Legal Claims
Aggressive Mediation/Negotiation Efforts
Non-Legal
Legal
Aggressive Legal Efforts
Special Proceedings
State Court
Bankruptcy Court
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•MORTGAGE FORECLOSURE DEFENSE WORK
MFP Foreclosure Stats to date – 2004 through September 2009
% Loan Mods,MFP Project
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DEFENSE WORK
$378,279
$40,700
$63,894
$17,718$1,480,710
$1,608,724$1,949
$778,474
$33,684
$223,092
$238,373
Principal loan amount reduced
Legal Fees Waived
Later Move-out saved Mtg. Payments
Late charges waived
Junk or Other fees waived
Future Mortgage Payments reduced
Escrow waived
Damages from Lender or A/P
Bankruptcy - Non-Mort. debts reduced
Bankruptcy Discharge
Arrearage Waived
Savings to Date - MFP Clients through 9/2009
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Contact InfoLANC MFP Project
Johnnie C. Larrie [Project Manager] LANC – Fayetteville Office P.O. Box 1268, Fayetteville, NC 28301 910.483.0400 x 108 [OfficeTele]
Pamela Thombs [Project Manager] LANC – Smithfield Office P.O. Box 371 Smithfield, NC 27577 919.934.9027 [Office Tele]
Chris McCallum [Project Paralegal] LANC – Fayetteville Office P.O. Box 1268, Fayetteville, NC 28301 910.483.0400 x114 [Office Tele] [email protected] [E-mail]
LANC NFMC Project Pamela Thombs [Supervising Attorney]
LANC – Smithfield Office P.O. Box 371 Smithfield, NC 27577 919.934.9027 [Office Tele]
Carolyn Kent [Project Liaison] LANC – Wilson Office P.O. Box 2688, Wilson, NC 27894 [email protected] [E-mail]
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•MORTGAGE FORECLOSURE DEFENSE WORK
