Possible Settlements
Pre-Trial Settlement
Once the lawsuit has been filed, the firm will attempt to settle the client’s claim through a 998 offer to compromise. They are seeking a sizable principal reduction, cash settlement and rate reduction. How this is possible is they are leveraging this settlement against pleading the case in front of a jury.
Amnesty Program
The firms will also be working on wide spread legislation to provide sweeping reform to this arena. If successful, they anticipate our clients to have preferential settlement options.
Full Lien Strip
This might result only if the lawsuit goes to trial. Remember, banks are villainized in today’s society for leading the economy into this mess. If this goes to a jury trial, banks would be hard pressed to find a jury that would not be sympathetic to homeowners and they would be held accountable for the bad mortgages that were written and the unresponsiveness they had in providing financial relief to homeowners.
The Cost
Once the lawsuit has been filed, the firm will attempt to settle the client’s claim through a 998 offer to compromise. They are seeking a sizable principal reduction, cash settlement and rate reduction. How this is possible is they are leveraging this settlement against pleading the case in front of a jury.
Amnesty Program
The firms will also be working on wide spread legislation to provide sweeping reform to this arena. If successful, they anticipate our clients to have preferential settlement options.
Full Lien Strip
This might result only if the lawsuit goes to trial. Remember, banks are villainized in today’s society for leading the economy into this mess. If this goes to a jury trial, banks would be hard pressed to find a jury that would not be sympathetic to homeowners and they would be held accountable for the bad mortgages that were written and the unresponsiveness they had in providing financial relief to homeowners.
The Cost
The attorneys realize that most people
contemplating taking legal action against their lender typically are not
in a good financial position to hire a law firm for something like
this.
So they have designed an affordable fee structure that most homeowners that want to keep their home can afford.
The bulk of the costs are tied up in a contingency fee that is paid by the lender upon settlement. The contingency fee is calculated from a percentage of the new fair market value that the attorneys are able to negotiate for you - no settlement means no contingency fee paid - so your attorneys are very motivated to secure a favorable outcome for you.
So they have designed an affordable fee structure that most homeowners that want to keep their home can afford.
The bulk of the costs are tied up in a contingency fee that is paid by the lender upon settlement. The contingency fee is calculated from a percentage of the new fair market value that the attorneys are able to negotiate for you - no settlement means no contingency fee paid - so your attorneys are very motivated to secure a favorable outcome for you.