#or whether that be gentrification of its people to exploit them for money
Explore tagged Tumblr posts
madamepestilence · 11 months ago
Text
"The society that separates its scholars from its warriors will have its thinking done by cowards and its fighting by fools."
- Thucydides
Tumblr media Tumblr media Tumblr media Tumblr media Tumblr media Tumblr media Tumblr media Tumblr media Tumblr media Tumblr media Tumblr media Tumblr media Tumblr media Tumblr media Tumblr media
"The Good War on Terror" written by Christopher Hayes.
I will be producing a print 'zine of this in the coming months. Join my Monthly 'Zine Club to get the first copies automatically sent your way!
24K notes · View notes
queernuck · 7 years ago
Text
The Immigrant Settler
When considering Irish-American identity, as well as white immigrant identity as a whole, so many focus upon the popular narrative regarding American immigration, one that begins at the point of bourgeoisie disidentification between an Anglo-American class which descended ideologically, when not genealogically, from the earliest of settlers, and immigrants of Irish, German, Italian, and other largely Western European descent. Through a process of differentiation and the invocation of processes of Orientalism, antiblackness, Balkanization, and so on, an American ideation of immigration is spread to discourses on both European identity through a sort of reversal, much in the way that Jacksonian ideology and structures of genocidal violence informed the means by which fascism, and specifically fascist acts of genocide, were enacted by the Nazis and more generally are continued through structures of systemic genocide in postmodernity. The transition into the modern, and later the postmodern, through the growth of American hegemony and the hegemonic structures of American cultural identity.
The origins of Irish-American identity lies, first, in an origin that I believe even Sakai would recognize as proletarian. However, the transformative act of immigration, the process that Sakai realizes as “settling” can in turn be described through a metapolitical questioning which asks exactly what lead to the derealization of proletarian origins and the eager acceptance of American hegemony seen in instances such as the heavily Irish character of the early New York police forces, or the reflection of such in the predominance of American colonial subjects within the American military. Specifically joining these apparatuses of colonial expansion, acting as a settler population through American imperial power as a means of expansive division is in fact part of how Irish-American, Italian-American and other national identities were realized: their histories are inextricably linked to antiblackness, to colonialism, in that their realization was in providing what Sakai characterizes as a “thin white line” between slaves and the moneyed white classes. Moreover, that many came over as part of agreements where they worked as “indentured servants” before becoming part of a larger European society within the colonial America, such that they can achieve a status unattainable within the proletarian demarcations given in European life. Effectively, Sakai recognizes a sort of cynical reversal of the American founding mythology: indeed, there is promise, a vital promise of prosperity that is found in the founding of America, but this is only accessible by becoming part of a well-to-do class, by a process of supposedly rightful ascent into a petitie-bourgeoisie. The means by which Sakai describes this are specifically formed such that he reverses the notions of ascendence which describe ideologies of American exceptionalism: it can only be the land it is claimed to be because it rests upon exploitation, that prosperity can only be found through an arbitration of capitalist violence that is specifically settler-colonial in design. The core impetus of Settlers is this very impetus: the means by which settlers conceived of a land they had never seen as rightfully theirs.
The westward growth of a nebulous European character within American immigration lead to a vital conflict between North and South: both maintained a certain acknowledgement of slavery as specifically formed through violence and instability, and that it could only be maintained through the same sorts of forces of destabilization seen in postmodern American operations of power. However, whereas the North saw the solution in the creation of an entirely white continent, one that could be divided internally but unified through whiteness, through opposition to an eventually disappearing population conceived of specifically in opposition to whiteness. When Sakai discusses the means by which Seminole tribes that had taken on escaped slaves were considered unified in their own eyes but as a collection of disparate populations to be separated and controlled by the eyes of the colonizer, one sees the demarcations of national identity that are necessary to colonial power, and how these are developed into neocolonial identities through processes of reversal. Even the formation of national identity through supposed decolonization often retains a national bourgeoisie, a Maoist-ordained class of well-to-do peasants which are vitally realized in their relationship to a process of becoming a landlord, of adopting their aesthetics, their habits, and their ideologies in order to at least gain a resemblance to them. Similarly, the notions of labor aristocracy are formed in this fashion, such that even within structures of apparently laboring classes one can find the means by which a petite-bourgeoisie are formed. Being able to look back upon this, when postmodern notions of “disruption” are so predominant in the realization of schizophrenic patterns of consumption, the process of becoming-petitie-bourgeoisie, of gaining that subjectivity is often obfuscated but vitally reflected within structures of capitalist entry. Rhizomality does not banish arboreal structure, but rather inscribes upon it and acts through it.
The means by which rhizomal structures may be fostered in protracted people’s war, through Maoist means of creating affinity are contrasted with the means in which structures of white supremacy draw a sort of natural affinity, use a fascist development of desire to create ideations of “populist” identity, whether in the name of neoliberal reform or in outright fascist ideology. In discussing the election of Andrew Jackson, Sakai discusses the means by which a supposed “populism” replaced and overinscribed upon any possibility of proletarian consciousness that mirrors the supposed character of American right-wing ideology, the means by which it at once appeals to the frontier and to the city. The ideation, the libidinal conception of Trump creates an American myth of national reclamation that redoubles Sakai’s characterization of Jacksonian identity but transposed within schizophrenic identities of late capital: Trump is self-made, but all the same retains the descent of greatness that defines American ideologies of settling and national creation. The creation of a specific identity of whiteness as a political tactic, the patriotism that is cultivated not merely in action (and in fact, secondary in any sort of action) but moreover through the creation of a certain ideological figure which can then stoke the libidinal flows that are otherwise forbidden, the means by which populism can stand in for love, desire, sexuality, so many various structures of desire that are far beyond the figure in themselves. The means by which Milo Yiannopoulos described Trump as “daddy” is not unusual, is not unprecedented; the very means by which fascism may contain homosexual desire, homosexual transgression, is part of the means by which, like Žižek’s discussion of pedophilia in the Church, the prohibited can not only be realized, but further developed into a means of reinforcing the ideology of belonging, of uniqueness, of a vital similarity and affinity within the group through this transgression. Effectively, the group disidentifies itself in one way in order to strengthen another process of identification. As a result, this creates the structure of an ascendant settler-colonial subject, the petitie-bourgeoisie developing itself into landlords of a new sort. These process are repeated over and over: from westward expansion to white flight to gentrification of cities developed as concentration points for those necessary to maintain a comfortable lifestyle for the petite-bourgeoisie, the shifting of identities is necessary to the continual maintenance of these structures of power.
Sakai also discusses the importance of slavery to the creation of an American antiblackness which is reflected in the very structure of the American city. Cities in the south such as Atlanta, in the west such as Oakland, even in the north such as the New York that Sakai describes, one finds that the structures of maintaining slavery, of creating a structure whereby slave labor could be realized within a larger economic structure that denied its own identity, that rejected its connection to slavery even as it become more and more evident that the displacement of white supremacy as such would eventually occur given the necessity of slavery to American colonial economies. The eventual development of an economy that has superficially moved on from slavery is aesthetic: the specific structures are rejected but moreover their rejection only comes through a reappropriation, an act wherein slavery is restructured and made systemic, is retained through the enacting of a specific Oedipal trauma that originates in the repetition of structures originating in slavery, the ideology of America as a nation for the European even if it is not itself white or European in character and population. The creation of black communities, even thriving ones, within cities such as these is met with a sort of rejection by structures of capitalism: as the ideology of capitalism would have it, that this prosperity is proof of the way in which race has become obsolete, has been disavowed. Instead, by specifically silencing the means through which race is realized and making it such that its articulation is in fact a rearticulation, a rabattement, it becomes so that the realization of race as a structure is in fact understood as its initial evocation, as the means by which it is first realized in the colonial gaze. 
Popular culture has become one of the main structures of spreading notions of American hegemony: even in rejection there is an articulation of it. The continuation of notions around American identity and its formation through structures that are paradigmatically, culturally, linked to a process of settling is itself part of the process of justification which leads to the process of settling as a process of creating the self. Contrasting this with the rejected creations of self, one finds oppositions between Gatsby and Gucci Mane, the way in which the differance of settler identity as linked to continuing a colonial heritage, a colonial identity, is vital to the means by which colonizers are reckoned. Even those outside the structure of American identity as a descendant European identity can occupy, can become colonial, through processes such as joining the American military: the means by which American military bases act as globalizing forces, act to restructure an act of extending the settler beyond even American shores, the creation of a settlement that in turn can structure the hyperreality of American colonialism.
Sakai’s work in Settlers as a history is not to be understood in terms of strict historical materialism as it will eventually be found lacking on these very grounds. Conversely, as a means of reckoning the metahistorical character of American imperialism, of dealing with the metaphysics that are proscribed by colonial arbitration and offering a critique of these structures, it acts phenomenally in that it specifically creates an alternate means of realizing the history of America as an ideological structure, the mythology of America. That Sakai’s historicism is lacking does not take away from his poeticism, and even if that poeticism would be rejected as an assessment by Sakai, it still stands as an important reading of his work. 
2 notes · View notes
michaeljames1221 · 5 years ago
Text
Foreclosure Lawyer Sandy Utah
If you are a victim of predatory lending and facing foreclosure, speak to an experienced Sandy Utah foreclosure lawyer. While predatory home mortgage lending is a highly disturbing and relatively new phenomenon, no one ought to be surprised at its existence. Ours is a society, a capitalist/market economy, a political system that breeds predatory behavior, particularly against the most vulnerable segments of the population, throughout and consistently.
youtube
(Just to give the term an additional grim flavor, my dictionary uses these descriptive definitional terms: “plundering,” “pillaging,” “marauding.”) Whether it’s the criminal justice system, the health system, the education system, or any other of the society’s basics, “the poor pay more” (in David Caplowitz’s phrase and title from his 1967 classic), get less, get shafted. And of course, within the housing system, predatory lending is just one piece of the larger picture. Among the other ways the housing system disappoints and preys upon poor, elderly, and minority residents are redlining (mortgage and insurance versions); evictions; discrimination by landlords, lenders, real estate agents, and other gatekeepers; excessive housing cost burdens; poor code enforcement; gentrification pressures; and so on. Those victimized by predatory lending are primarily persons who already own their homes, although a certain portion of this nefarious activity is foisted upon renters desiring home ownership. And in this regard, we need to question the (bipartisan) push to have everyone attain “the American dream”—a political, advertising, and cultural campaign that unfortunately causes grief for all too many households. While the nation’s home ownership rate has been rising, so has the foreclosure rate—primarily, of course, for low-income households.
youtube
The distinction between subprime and predatory lending can be fuzzy. The National Community Reinvestment Coalition (NCRC) recently offered the following definitions to help clarify the differences. NCRC defined subprime lending in the following terms: A subprime loan is a loan to a borrower with less than perfect credit. In order to compensate for the added risk associated with subprime loans, lending institutions charge higher interest rates. In contrast, a prime loan is a loan made to a credit- worthy borrower at prevailing interest rates. Loans are classified as A, A–, B, C, and D loans. “A” loans are prime loans that are made at the going rate while A– loans are loans made at slightly higher interest rates to borrowers with only a few blemishes on their credit report. So-called B, C, and D loans are made to borrow- ers with significant imperfections in their credit history. “D” loans carry the high- est interest rate because they are made to borrowers with the worst credit histories that include bankruptcy. Predatory loans are defined in the following terms: A predatory loan is an unsuitable loan designed to exploit vulnerable and unso- phisticated borrowers. Predatory loans are a subset of subprime loans. A predatory loan has one or more of the following features: 1) charges more in interest and fees than is required to cover the added risk of lending to borrowers with credit im- perfections, 2) contains abusive terms and conditions that trap borrowers and lead to increased indebtedness, 3) does not take into account the borrower’s ability to repay the loan, and 4) often violates fair lending laws by targeting women, minorities and communities of color.
youtube
A variety of predatory practices have been identified. They include the following: • Higher interest rates and fees than can be justified by the risk posed by the borrower. • Balloon payments requiring borrowers to pay off the entire balance of a loan by making a substantial payment after a period of time during which they have been making regular monthly payments. • Required single premium credit life insurance where the borrower must pay the entire annual premium at the beginning of the policy period rather than in monthly or quarterly payments; with this cost folded into the loan, the total cost, including interest payments, is higher throughout the life of the loan. • Forced placed home insurance, where the lender requires the borrower to pay for a policy selected by the lender. • High prepayment penalties, which trap borrowers in the loans. • Fees for services that may or may not actually be provided. • Loans based on the value of the property with no regard for the borrower’s ability to make payments. • Loan flipping, whereby lenders use deceptive and high-pressure tactics resulting in the frequent refinancing of loans with additional fees added each time. • Negatively amortized loans and loans for more than the value of the home, which result in the borrower owing more money at the end of the loan period than when they started making payments Subprime lending is not a new business. Lending to people with blemished credit histories has been around seemingly for as long as there have been creditors and debtors. Examples of the long-standing tradition of subprime lending in the United States run the gamut from pawnshops to the more positively regarded community development home loans. Subprime lending has, however, changed since the 1980s as the technological, macroeconomic, and legal frameworks in which these transactions take place have evolved, giving rise to increasingly sophisticated operations and substantial growth. Accompanying this growth has been the notable emergence of predatory home mortgage lending within the subprime credit sector. About 90 percent of foreclosure cases involve homeowners who were put into foreclosure without being given their options. The banks handle many loans and sometimes outsource collection efforts so that borrowers don’t get the case-by-case treatment that they should.
youtube
For their part, bank officials say they make extraordinary efforts to avoid taking a home. Most of the time, foreclosing is actually much less profitable than keeping the homeowner in the house. Homes in foreclosure normally sell at deeply discounted prices. But both sides can agree that many homeowners facing defaults on their loans don’t know what steps they can take to avoid foreclosure. That misdirection can lead to thousands of dollars in attorneys fees and foreclosure sales. The lack of knowledge of those services is something that officials at the U.S. Department of Housing and Urban Development admit is a problem. Loans insured by the Federal Housing Administration carry special safeguards to help buyers who fall behind on payments. Banks can sometimes temporarily suspend or reduce payments in the event of a hardship, and loans insured by the Federal Housing Administration are sometimes eligible for one-time payments from the government. But sometimes, lenders either don’t do an adequate job informing the owner of his options or the owner doesn’t take advantage of them before it’s too late. If you are one of the many people lurching toward foreclosure, there are a few things you can do before that final crash. Which options are right for you? Where can you go for good advice? Most important, whom can you trust when you’re wading through all the dot-com sites on the Internet that promise instant relief, easy credit repair and a quick resolution to all your problems? The U.S. Department of Housing and Urban Development (HUD) offers easy-to-understand on-line advice on how to avoid foreclosure. It’s available on the HUD Web site. The site provides links to HUD-approved housing counseling agencies that have information on free credit counseling and other services.
youtube
Still feeling overwhelmed? You may want to consult an experienced Sandy Utah foreclosure lawyer. It makes sense to work with someone who knows the rules. People may have their own ideas about what they want to do, but banks are not necessarily going to agree. They’re used to putting round pegs into round holes. Of course, it is best not to start down that slippery slope. Many foreclosures could have been prevented had the homeowner just recognized a few warning signs. These include missed mortgage payments, late notices and collection attempts. If you have missed only one payment, you have a number of options available to you. Miss several payments, and the options start to disappear. Anyone can find himself in unexpected financial circumstances and subject to foreclosure. Whether you’re in straitened circumstances because of business conditions, illness or a lifestyle that ultimately has worked against you, the fact is, you’ll have to formulate a goal about what to do. The most important thing is to set a goal about what you want to have happen. Then, it’s all about what you have to do to manage to keep that goal. That goal may or may not include keeping your house. If your monthly house payment, including property taxes and insurance, does not exceed 40 percent of your gross monthly income, you should consider selling or transferring the property to avoid negative impacts to your credit. For some people, that can be a relief. In fact, it may not be feasible economically to keep your house. If your house is worth more than you owe on it, selling it can allow you to pay off your mortgage, back payments and penalties. At the worst, you want zero equity. You never want negative equity. For most people, holding onto the house is crucial. The key to ensuring that will happen is to take a proactive approach to your debt. Just starting down that slippery slope? Only missed a few payments? The worst thing you can do is to do nothing. Communication is key. The most common but absolutely the worst response to mounting debt is simply to bury your head in the sand. Instead, you should talk directly with your lender. To a lender, foreclosure is the last resort, especially since the process is expensive, time-consuming and unprofitable. In a situation called “special forbearance, your lender will try to arrange a repayment plan that is tailored to your financial situation. In some instances, this can include a reduction or even a temporary suspension of your payments. A deferred payment program allows you to make up past-due amounts by adding them to your regular payments. Your lender also may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current.
youtube
You have to make sure that you will be able to make the new payments. People always make the mistake of thinking they will be able to do it, and then suddenly they have double trouble. Talking to a consumer credit counseling service can help you consolidate your bills and get budgeting advice. Be careful here, though. Some “counseling” services actually function as fronts for lawyers who want to steer you into bankruptcy proceedings. Others charge for services rendered. According to HUD, if you are paying for a consumer credit counseling service, you may be paying for a service you could do yourself or for free with the help of a HUD-approved housing counseling agency. Whether you are working on your own or with a counselor, it’s important to get a clear picture of your circumstances. That can be difficult, especially if you are one of those people whose head-in-the-sand approach has gotten you into this predicament in the first place. Make list of your expenses under six categories: • Essential expenses – food. • Very important expenses, such as first mortgage, rent, other mortgages, utilities and work-related transportation. • Important expenses, including clothes, taxes, other transportation and credit-card payments if credit is good. • Regular expenses, including daily expenses, the cost of household goods and credit-card payments if credit already has been affected. • Luxury expenses, such as entertainment, vacations and jewelry. • Wasteful expenses, including gambling, playing the lottery or falling for get-rich-quick scams. You have to be willing to take a real hard look at what got you into trouble in the first place. You may have to make some major changes in your lifestyle. After determining your financial situation, it’s time to consider your options. Mortgage modification allows you to refinance your debt or extend the term of your loan. After paying a lump sum to the bank, you then can re-amortize or extend the loan. Then there’s refinancing. Most people, should be able to refinance their homes with second mortgages. The problem comes if you haven’t come to terms with what got you into trouble in the first place. If you have an ongoing income problem, going from a $20,000 to a $30,000 mortgage isn’t going to help. You’ll default on that too. A short sale can be useful if you owe more money on your house than it is worth. Though it may not save your house, it saves your credit and allows you to rehabilitate your finances and credit history. Keep in mind, though, that the money waived by the lender is treated by the IRS as taxable income. Often seen as a last resort, a deed in lieu of foreclosure means that you stave off foreclosure by returning the house to the lender. The bank keeps the deed, and you move out, but you won’t have that black mark on your credit. If you do have to file bankruptcy, a Chapter 13 bankruptcy reorganization will stop a foreclosure. It’s a misconception with bankruptcy that you’ll automatically lose your house. That’s absolutely not the case. In the end, it all boils down to just three simple classes of things: the things you can do, the things the bank can do, and the things you both agree to do. The bottom line is, most banks would rather have their money than have your house. But the most important thing is to get in touch with an experienced Sandy Utah foreclosure lawyer.
Sandy Utah Foreclosure Lawyer Free Consultation
When you need legal help for a foreclosure in Sandy Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Can A DUI Charge Be Reduced?
How To Avoid Problems With Employment References
Divorce Attorney Near Me
Utah Custody
Which Bankruptcy Is Better For Your Credit?
Can You Get A DUI Without Being Pulled Over?
from Michael Anderson https://www.ascentlawfirm.com/foreclosure-lawyer-sandy-utah/
from Criminal Defense Lawyer West Jordan Utah https://criminaldefenselawyerwestjordanutah.wordpress.com/2020/04/03/foreclosure-lawyer-sandy-utah/
0 notes
melissawalker01 · 5 years ago
Text
Foreclosure Lawyer Sandy Utah
If you are a victim of predatory lending and facing foreclosure, speak to an experienced Sandy Utah foreclosure lawyer. While predatory home mortgage lending is a highly disturbing and relatively new phenomenon, no one ought to be surprised at its existence. Ours is a society, a capitalist/market economy, a political system that breeds predatory behavior, particularly against the most vulnerable segments of the population, throughout and consistently.
youtube
(Just to give the term an additional grim flavor, my dictionary uses these descriptive definitional terms: “plundering,” “pillaging,” “marauding.”) Whether it’s the criminal justice system, the health system, the education system, or any other of the society’s basics, “the poor pay more” (in David Caplowitz’s phrase and title from his 1967 classic), get less, get shafted. And of course, within the housing system, predatory lending is just one piece of the larger picture. Among the other ways the housing system disappoints and preys upon poor, elderly, and minority residents are redlining (mortgage and insurance versions); evictions; discrimination by landlords, lenders, real estate agents, and other gatekeepers; excessive housing cost burdens; poor code enforcement; gentrification pressures; and so on. Those victimized by predatory lending are primarily persons who already own their homes, although a certain portion of this nefarious activity is foisted upon renters desiring home ownership. And in this regard, we need to question the (bipartisan) push to have everyone attain “the American dream”—a political, advertising, and cultural campaign that unfortunately causes grief for all too many households. While the nation’s home ownership rate has been rising, so has the foreclosure rate—primarily, of course, for low-income households.
youtube
The distinction between subprime and predatory lending can be fuzzy. The National Community Reinvestment Coalition (NCRC) recently offered the following definitions to help clarify the differences. NCRC defined subprime lending in the following terms: A subprime loan is a loan to a borrower with less than perfect credit. In order to compensate for the added risk associated with subprime loans, lending institutions charge higher interest rates. In contrast, a prime loan is a loan made to a credit- worthy borrower at prevailing interest rates. Loans are classified as A, A–, B, C, and D loans. “A” loans are prime loans that are made at the going rate while A– loans are loans made at slightly higher interest rates to borrowers with only a few blemishes on their credit report. So-called B, C, and D loans are made to borrow- ers with significant imperfections in their credit history. “D” loans carry the high- est interest rate because they are made to borrowers with the worst credit histories that include bankruptcy. Predatory loans are defined in the following terms: A predatory loan is an unsuitable loan designed to exploit vulnerable and unso- phisticated borrowers. Predatory loans are a subset of subprime loans. A predatory loan has one or more of the following features: 1) charges more in interest and fees than is required to cover the added risk of lending to borrowers with credit im- perfections, 2) contains abusive terms and conditions that trap borrowers and lead to increased indebtedness, 3) does not take into account the borrower’s ability to repay the loan, and 4) often violates fair lending laws by targeting women, minorities and communities of color.
youtube
A variety of predatory practices have been identified. They include the following: • Higher interest rates and fees than can be justified by the risk posed by the borrower. • Balloon payments requiring borrowers to pay off the entire balance of a loan by making a substantial payment after a period of time during which they have been making regular monthly payments. • Required single premium credit life insurance where the borrower must pay the entire annual premium at the beginning of the policy period rather than in monthly or quarterly payments; with this cost folded into the loan, the total cost, including interest payments, is higher throughout the life of the loan. • Forced placed home insurance, where the lender requires the borrower to pay for a policy selected by the lender. • High prepayment penalties, which trap borrowers in the loans. • Fees for services that may or may not actually be provided. • Loans based on the value of the property with no regard for the borrower’s ability to make payments. • Loan flipping, whereby lenders use deceptive and high-pressure tactics resulting in the frequent refinancing of loans with additional fees added each time. • Negatively amortized loans and loans for more than the value of the home, which result in the borrower owing more money at the end of the loan period than when they started making payments Subprime lending is not a new business. Lending to people with blemished credit histories has been around seemingly for as long as there have been creditors and debtors. Examples of the long-standing tradition of subprime lending in the United States run the gamut from pawnshops to the more positively regarded community development home loans. Subprime lending has, however, changed since the 1980s as the technological, macroeconomic, and legal frameworks in which these transactions take place have evolved, giving rise to increasingly sophisticated operations and substantial growth. Accompanying this growth has been the notable emergence of predatory home mortgage lending within the subprime credit sector. About 90 percent of foreclosure cases involve homeowners who were put into foreclosure without being given their options. The banks handle many loans and sometimes outsource collection efforts so that borrowers don’t get the case-by-case treatment that they should.
youtube
For their part, bank officials say they make extraordinary efforts to avoid taking a home. Most of the time, foreclosing is actually much less profitable than keeping the homeowner in the house. Homes in foreclosure normally sell at deeply discounted prices. But both sides can agree that many homeowners facing defaults on their loans don’t know what steps they can take to avoid foreclosure. That misdirection can lead to thousands of dollars in attorneys fees and foreclosure sales. The lack of knowledge of those services is something that officials at the U.S. Department of Housing and Urban Development admit is a problem. Loans insured by the Federal Housing Administration carry special safeguards to help buyers who fall behind on payments. Banks can sometimes temporarily suspend or reduce payments in the event of a hardship, and loans insured by the Federal Housing Administration are sometimes eligible for one-time payments from the government. But sometimes, lenders either don’t do an adequate job informing the owner of his options or the owner doesn’t take advantage of them before it’s too late. If you are one of the many people lurching toward foreclosure, there are a few things you can do before that final crash. Which options are right for you? Where can you go for good advice? Most important, whom can you trust when you’re wading through all the dot-com sites on the Internet that promise instant relief, easy credit repair and a quick resolution to all your problems? The U.S. Department of Housing and Urban Development (HUD) offers easy-to-understand on-line advice on how to avoid foreclosure. It’s available on the HUD Web site. The site provides links to HUD-approved housing counseling agencies that have information on free credit counseling and other services.
youtube
Still feeling overwhelmed? You may want to consult an experienced Sandy Utah foreclosure lawyer. It makes sense to work with someone who knows the rules. People may have their own ideas about what they want to do, but banks are not necessarily going to agree. They’re used to putting round pegs into round holes. Of course, it is best not to start down that slippery slope. Many foreclosures could have been prevented had the homeowner just recognized a few warning signs. These include missed mortgage payments, late notices and collection attempts. If you have missed only one payment, you have a number of options available to you. Miss several payments, and the options start to disappear. Anyone can find himself in unexpected financial circumstances and subject to foreclosure. Whether you’re in straitened circumstances because of business conditions, illness or a lifestyle that ultimately has worked against you, the fact is, you’ll have to formulate a goal about what to do. The most important thing is to set a goal about what you want to have happen. Then, it’s all about what you have to do to manage to keep that goal. That goal may or may not include keeping your house. If your monthly house payment, including property taxes and insurance, does not exceed 40 percent of your gross monthly income, you should consider selling or transferring the property to avoid negative impacts to your credit. For some people, that can be a relief. In fact, it may not be feasible economically to keep your house. If your house is worth more than you owe on it, selling it can allow you to pay off your mortgage, back payments and penalties. At the worst, you want zero equity. You never want negative equity. For most people, holding onto the house is crucial. The key to ensuring that will happen is to take a proactive approach to your debt. Just starting down that slippery slope? Only missed a few payments? The worst thing you can do is to do nothing. Communication is key. The most common but absolutely the worst response to mounting debt is simply to bury your head in the sand. Instead, you should talk directly with your lender. To a lender, foreclosure is the last resort, especially since the process is expensive, time-consuming and unprofitable. In a situation called “special forbearance, your lender will try to arrange a repayment plan that is tailored to your financial situation. In some instances, this can include a reduction or even a temporary suspension of your payments. A deferred payment program allows you to make up past-due amounts by adding them to your regular payments. Your lender also may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current.
youtube
You have to make sure that you will be able to make the new payments. People always make the mistake of thinking they will be able to do it, and then suddenly they have double trouble. Talking to a consumer credit counseling service can help you consolidate your bills and get budgeting advice. Be careful here, though. Some “counseling” services actually function as fronts for lawyers who want to steer you into bankruptcy proceedings. Others charge for services rendered. According to HUD, if you are paying for a consumer credit counseling service, you may be paying for a service you could do yourself or for free with the help of a HUD-approved housing counseling agency. Whether you are working on your own or with a counselor, it’s important to get a clear picture of your circumstances. That can be difficult, especially if you are one of those people whose head-in-the-sand approach has gotten you into this predicament in the first place. Make list of your expenses under six categories: • Essential expenses – food. • Very important expenses, such as first mortgage, rent, other mortgages, utilities and work-related transportation. • Important expenses, including clothes, taxes, other transportation and credit-card payments if credit is good. • Regular expenses, including daily expenses, the cost of household goods and credit-card payments if credit already has been affected. • Luxury expenses, such as entertainment, vacations and jewelry. • Wasteful expenses, including gambling, playing the lottery or falling for get-rich-quick scams. You have to be willing to take a real hard look at what got you into trouble in the first place. You may have to make some major changes in your lifestyle. After determining your financial situation, it’s time to consider your options. Mortgage modification allows you to refinance your debt or extend the term of your loan. After paying a lump sum to the bank, you then can re-amortize or extend the loan. Then there’s refinancing. Most people, should be able to refinance their homes with second mortgages. The problem comes if you haven’t come to terms with what got you into trouble in the first place. If you have an ongoing income problem, going from a $20,000 to a $30,000 mortgage isn’t going to help. You’ll default on that too. A short sale can be useful if you owe more money on your house than it is worth. Though it may not save your house, it saves your credit and allows you to rehabilitate your finances and credit history. Keep in mind, though, that the money waived by the lender is treated by the IRS as taxable income. Often seen as a last resort, a deed in lieu of foreclosure means that you stave off foreclosure by returning the house to the lender. The bank keeps the deed, and you move out, but you won’t have that black mark on your credit. If you do have to file bankruptcy, a Chapter 13 bankruptcy reorganization will stop a foreclosure. It’s a misconception with bankruptcy that you’ll automatically lose your house. That’s absolutely not the case. In the end, it all boils down to just three simple classes of things: the things you can do, the things the bank can do, and the things you both agree to do. The bottom line is, most banks would rather have their money than have your house. But the most important thing is to get in touch with an experienced Sandy Utah foreclosure lawyer.
Sandy Utah Foreclosure Lawyer Free Consultation
When you need legal help for a foreclosure in Sandy Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Can A DUI Charge Be Reduced?
How To Avoid Problems With Employment References
Divorce Attorney Near Me
Utah Custody
Which Bankruptcy Is Better For Your Credit?
Can You Get A DUI Without Being Pulled Over?
from Michael Anderson https://www.ascentlawfirm.com/foreclosure-lawyer-sandy-utah/ from Divorce Lawyer Nelson Farms Utah https://divorcelawyernelsonfarmsutah.tumblr.com/post/614374495277465600
0 notes
mayarosa47 · 5 years ago
Text
Foreclosure Lawyer Sandy Utah
If you are a victim of predatory lending and facing foreclosure, speak to an experienced Sandy Utah foreclosure lawyer. While predatory home mortgage lending is a highly disturbing and relatively new phenomenon, no one ought to be surprised at its existence. Ours is a society, a capitalist/market economy, a political system that breeds predatory behavior, particularly against the most vulnerable segments of the population, throughout and consistently.
(Just to give the term an additional grim flavor, my dictionary uses these descriptive definitional terms: “plundering,” “pillaging,” “marauding.”) Whether it’s the criminal justice system, the health system, the education system, or any other of the society’s basics, “the poor pay more” (in David Caplowitz’s phrase and title from his 1967 classic), get less, get shafted. And of course, within the housing system, predatory lending is just one piece of the larger picture. Among the other ways the housing system disappoints and preys upon poor, elderly, and minority residents are redlining (mortgage and insurance versions); evictions; discrimination by landlords, lenders, real estate agents, and other gatekeepers; excessive housing cost burdens; poor code enforcement; gentrification pressures; and so on. Those victimized by predatory lending are primarily persons who already own their homes, although a certain portion of this nefarious activity is foisted upon renters desiring home ownership. And in this regard, we need to question the (bipartisan) push to have everyone attain “the American dream”—a political, advertising, and cultural campaign that unfortunately causes grief for all too many households. While the nation’s home ownership rate has been rising, so has the foreclosure rate—primarily, of course, for low-income households.
The distinction between subprime and predatory lending can be fuzzy. The National Community Reinvestment Coalition (NCRC) recently offered the following definitions to help clarify the differences. NCRC defined subprime lending in the following terms: A subprime loan is a loan to a borrower with less than perfect credit. In order to compensate for the added risk associated with subprime loans, lending institutions charge higher interest rates. In contrast, a prime loan is a loan made to a credit- worthy borrower at prevailing interest rates. Loans are classified as A, A–, B, C, and D loans. “A” loans are prime loans that are made at the going rate while A– loans are loans made at slightly higher interest rates to borrowers with only a few blemishes on their credit report. So-called B, C, and D loans are made to borrow- ers with significant imperfections in their credit history. “D” loans carry the high- est interest rate because they are made to borrowers with the worst credit histories that include bankruptcy. Predatory loans are defined in the following terms: A predatory loan is an unsuitable loan designed to exploit vulnerable and unso- phisticated borrowers. Predatory loans are a subset of subprime loans. A predatory loan has one or more of the following features: 1) charges more in interest and fees than is required to cover the added risk of lending to borrowers with credit im- perfections, 2) contains abusive terms and conditions that trap borrowers and lead to increased indebtedness, 3) does not take into account the borrower’s ability to repay the loan, and 4) often violates fair lending laws by targeting women, minorities and communities of color.
A variety of predatory practices have been identified. They include the following: • Higher interest rates and fees than can be justified by the risk posed by the borrower. • Balloon payments requiring borrowers to pay off the entire balance of a loan by making a substantial payment after a period of time during which they have been making regular monthly payments. • Required single premium credit life insurance where the borrower must pay the entire annual premium at the beginning of the policy period rather than in monthly or quarterly payments; with this cost folded into the loan, the total cost, including interest payments, is higher throughout the life of the loan. • Forced placed home insurance, where the lender requires the borrower to pay for a policy selected by the lender. • High prepayment penalties, which trap borrowers in the loans. • Fees for services that may or may not actually be provided. • Loans based on the value of the property with no regard for the borrower’s ability to make payments. • Loan flipping, whereby lenders use deceptive and high-pressure tactics resulting in the frequent refinancing of loans with additional fees added each time. • Negatively amortized loans and loans for more than the value of the home, which result in the borrower owing more money at the end of the loan period than when they started making payments Subprime lending is not a new business. Lending to people with blemished credit histories has been around seemingly for as long as there have been creditors and debtors. Examples of the long-standing tradition of subprime lending in the United States run the gamut from pawnshops to the more positively regarded community development home loans. Subprime lending has, however, changed since the 1980s as the technological, macroeconomic, and legal frameworks in which these transactions take place have evolved, giving rise to increasingly sophisticated operations and substantial growth. Accompanying this growth has been the notable emergence of predatory home mortgage lending within the subprime credit sector. About 90 percent of foreclosure cases involve homeowners who were put into foreclosure without being given their options. The banks handle many loans and sometimes outsource collection efforts so that borrowers don’t get the case-by-case treatment that they should.
For their part, bank officials say they make extraordinary efforts to avoid taking a home. Most of the time, foreclosing is actually much less profitable than keeping the homeowner in the house. Homes in foreclosure normally sell at deeply discounted prices. But both sides can agree that many homeowners facing defaults on their loans don’t know what steps they can take to avoid foreclosure. That misdirection can lead to thousands of dollars in attorneys fees and foreclosure sales. The lack of knowledge of those services is something that officials at the U.S. Department of Housing and Urban Development admit is a problem. Loans insured by the Federal Housing Administration carry special safeguards to help buyers who fall behind on payments. Banks can sometimes temporarily suspend or reduce payments in the event of a hardship, and loans insured by the Federal Housing Administration are sometimes eligible for one-time payments from the government. But sometimes, lenders either don’t do an adequate job informing the owner of his options or the owner doesn’t take advantage of them before it’s too late. If you are one of the many people lurching toward foreclosure, there are a few things you can do before that final crash. Which options are right for you? Where can you go for good advice? Most important, whom can you trust when you’re wading through all the dot-com sites on the Internet that promise instant relief, easy credit repair and a quick resolution to all your problems? The U.S. Department of Housing and Urban Development (HUD) offers easy-to-understand on-line advice on how to avoid foreclosure. It’s available on the HUD Web site. The site provides links to HUD-approved housing counseling agencies that have information on free credit counseling and other services.
Still feeling overwhelmed? You may want to consult an experienced Sandy Utah foreclosure lawyer. It makes sense to work with someone who knows the rules. People may have their own ideas about what they want to do, but banks are not necessarily going to agree. They’re used to putting round pegs into round holes. Of course, it is best not to start down that slippery slope. Many foreclosures could have been prevented had the homeowner just recognized a few warning signs. These include missed mortgage payments, late notices and collection attempts. If you have missed only one payment, you have a number of options available to you. Miss several payments, and the options start to disappear. Anyone can find himself in unexpected financial circumstances and subject to foreclosure. Whether you’re in straitened circumstances because of business conditions, illness or a lifestyle that ultimately has worked against you, the fact is, you’ll have to formulate a goal about what to do. The most important thing is to set a goal about what you want to have happen. Then, it’s all about what you have to do to manage to keep that goal. That goal may or may not include keeping your house. If your monthly house payment, including property taxes and insurance, does not exceed 40 percent of your gross monthly income, you should consider selling or transferring the property to avoid negative impacts to your credit. For some people, that can be a relief. In fact, it may not be feasible economically to keep your house. If your house is worth more than you owe on it, selling it can allow you to pay off your mortgage, back payments and penalties. At the worst, you want zero equity. You never want negative equity. For most people, holding onto the house is crucial. The key to ensuring that will happen is to take a proactive approach to your debt. Just starting down that slippery slope? Only missed a few payments? The worst thing you can do is to do nothing. Communication is key. The most common but absolutely the worst response to mounting debt is simply to bury your head in the sand. Instead, you should talk directly with your lender. To a lender, foreclosure is the last resort, especially since the process is expensive, time-consuming and unprofitable. In a situation called “special forbearance, your lender will try to arrange a repayment plan that is tailored to your financial situation. In some instances, this can include a reduction or even a temporary suspension of your payments. A deferred payment program allows you to make up past-due amounts by adding them to your regular payments. Your lender also may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current.
You have to make sure that you will be able to make the new payments. People always make the mistake of thinking they will be able to do it, and then suddenly they have double trouble. Talking to a consumer credit counseling service can help you consolidate your bills and get budgeting advice. Be careful here, though. Some “counseling” services actually function as fronts for lawyers who want to steer you into bankruptcy proceedings. Others charge for services rendered. According to HUD, if you are paying for a consumer credit counseling service, you may be paying for a service you could do yourself or for free with the help of a HUD-approved housing counseling agency. Whether you are working on your own or with a counselor, it’s important to get a clear picture of your circumstances. That can be difficult, especially if you are one of those people whose head-in-the-sand approach has gotten you into this predicament in the first place. Make list of your expenses under six categories: • Essential expenses – food. • Very important expenses, such as first mortgage, rent, other mortgages, utilities and work-related transportation. • Important expenses, including clothes, taxes, other transportation and credit-card payments if credit is good. • Regular expenses, including daily expenses, the cost of household goods and credit-card payments if credit already has been affected. • Luxury expenses, such as entertainment, vacations and jewelry. • Wasteful expenses, including gambling, playing the lottery or falling for get-rich-quick scams. You have to be willing to take a real hard look at what got you into trouble in the first place. You may have to make some major changes in your lifestyle. After determining your financial situation, it’s time to consider your options. Mortgage modification allows you to refinance your debt or extend the term of your loan. After paying a lump sum to the bank, you then can re-amortize or extend the loan. Then there’s refinancing. Most people, should be able to refinance their homes with second mortgages. The problem comes if you haven’t come to terms with what got you into trouble in the first place. If you have an ongoing income problem, going from a $20,000 to a $30,000 mortgage isn’t going to help. You’ll default on that too. A short sale can be useful if you owe more money on your house than it is worth. Though it may not save your house, it saves your credit and allows you to rehabilitate your finances and credit history. Keep in mind, though, that the money waived by the lender is treated by the IRS as taxable income. Often seen as a last resort, a deed in lieu of foreclosure means that you stave off foreclosure by returning the house to the lender. The bank keeps the deed, and you move out, but you won’t have that black mark on your credit. If you do have to file bankruptcy, a Chapter 13 bankruptcy reorganization will stop a foreclosure. It’s a misconception with bankruptcy that you’ll automatically lose your house. That’s absolutely not the case. In the end, it all boils down to just three simple classes of things: the things you can do, the things the bank can do, and the things you both agree to do. The bottom line is, most banks would rather have their money than have your house. But the most important thing is to get in touch with an experienced Sandy Utah foreclosure lawyer.
Sandy Utah Foreclosure Lawyer Free Consultation
When you need legal help for a foreclosure in Sandy Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Can A DUI Charge Be Reduced?
How To Avoid Problems With Employment References
Divorce Attorney Near Me
Utah Custody
Which Bankruptcy Is Better For Your Credit?
Can You Get A DUI Without Being Pulled Over?
from https://www.ascentlawfirm.com/foreclosure-lawyer-sandy-utah/
from Criminal Defense Lawyer West Jordan Utah - Blog http://criminaldefenselawyerwestjordanutah.weebly.com/blog/foreclosure-lawyer-sandy-utah
0 notes
Text
Foreclosure Lawyer Sandy Utah
If you are a victim of predatory lending and facing foreclosure, speak to an experienced Sandy Utah foreclosure lawyer. While predatory home mortgage lending is a highly disturbing and relatively new phenomenon, no one ought to be surprised at its existence. Ours is a society, a capitalist/market economy, a political system that breeds predatory behavior, particularly against the most vulnerable segments of the population, throughout and consistently.
youtube
(Just to give the term an additional grim flavor, my dictionary uses these descriptive definitional terms: “plundering,” “pillaging,” “marauding.”) Whether it’s the criminal justice system, the health system, the education system, or any other of the society’s basics, “the poor pay more” (in David Caplowitz’s phrase and title from his 1967 classic), get less, get shafted. And of course, within the housing system, predatory lending is just one piece of the larger picture. Among the other ways the housing system disappoints and preys upon poor, elderly, and minority residents are redlining (mortgage and insurance versions); evictions; discrimination by landlords, lenders, real estate agents, and other gatekeepers; excessive housing cost burdens; poor code enforcement; gentrification pressures; and so on. Those victimized by predatory lending are primarily persons who already own their homes, although a certain portion of this nefarious activity is foisted upon renters desiring home ownership. And in this regard, we need to question the (bipartisan) push to have everyone attain “the American dream”—a political, advertising, and cultural campaign that unfortunately causes grief for all too many households. While the nation’s home ownership rate has been rising, so has the foreclosure rate—primarily, of course, for low-income households.
youtube
The distinction between subprime and predatory lending can be fuzzy. The National Community Reinvestment Coalition (NCRC) recently offered the following definitions to help clarify the differences. NCRC defined subprime lending in the following terms: A subprime loan is a loan to a borrower with less than perfect credit. In order to compensate for the added risk associated with subprime loans, lending institutions charge higher interest rates. In contrast, a prime loan is a loan made to a credit- worthy borrower at prevailing interest rates. Loans are classified as A, A–, B, C, and D loans. “A” loans are prime loans that are made at the going rate while A– loans are loans made at slightly higher interest rates to borrowers with only a few blemishes on their credit report. So-called B, C, and D loans are made to borrow- ers with significant imperfections in their credit history. “D” loans carry the high- est interest rate because they are made to borrowers with the worst credit histories that include bankruptcy. Predatory loans are defined in the following terms: A predatory loan is an unsuitable loan designed to exploit vulnerable and unso- phisticated borrowers. Predatory loans are a subset of subprime loans. A predatory loan has one or more of the following features: 1) charges more in interest and fees than is required to cover the added risk of lending to borrowers with credit im- perfections, 2) contains abusive terms and conditions that trap borrowers and lead to increased indebtedness, 3) does not take into account the borrower’s ability to repay the loan, and 4) often violates fair lending laws by targeting women, minorities and communities of color.
youtube
A variety of predatory practices have been identified. They include the following: • Higher interest rates and fees than can be justified by the risk posed by the borrower. • Balloon payments requiring borrowers to pay off the entire balance of a loan by making a substantial payment after a period of time during which they have been making regular monthly payments. • Required single premium credit life insurance where the borrower must pay the entire annual premium at the beginning of the policy period rather than in monthly or quarterly payments; with this cost folded into the loan, the total cost, including interest payments, is higher throughout the life of the loan. • Forced placed home insurance, where the lender requires the borrower to pay for a policy selected by the lender. • High prepayment penalties, which trap borrowers in the loans. • Fees for services that may or may not actually be provided. • Loans based on the value of the property with no regard for the borrower’s ability to make payments. • Loan flipping, whereby lenders use deceptive and high-pressure tactics resulting in the frequent refinancing of loans with additional fees added each time. • Negatively amortized loans and loans for more than the value of the home, which result in the borrower owing more money at the end of the loan period than when they started making payments Subprime lending is not a new business. Lending to people with blemished credit histories has been around seemingly for as long as there have been creditors and debtors. Examples of the long-standing tradition of subprime lending in the United States run the gamut from pawnshops to the more positively regarded community development home loans. Subprime lending has, however, changed since the 1980s as the technological, macroeconomic, and legal frameworks in which these transactions take place have evolved, giving rise to increasingly sophisticated operations and substantial growth. Accompanying this growth has been the notable emergence of predatory home mortgage lending within the subprime credit sector. About 90 percent of foreclosure cases involve homeowners who were put into foreclosure without being given their options. The banks handle many loans and sometimes outsource collection efforts so that borrowers don’t get the case-by-case treatment that they should.
youtube
For their part, bank officials say they make extraordinary efforts to avoid taking a home. Most of the time, foreclosing is actually much less profitable than keeping the homeowner in the house. Homes in foreclosure normally sell at deeply discounted prices. But both sides can agree that many homeowners facing defaults on their loans don’t know what steps they can take to avoid foreclosure. That misdirection can lead to thousands of dollars in attorneys fees and foreclosure sales. The lack of knowledge of those services is something that officials at the U.S. Department of Housing and Urban Development admit is a problem. Loans insured by the Federal Housing Administration carry special safeguards to help buyers who fall behind on payments. Banks can sometimes temporarily suspend or reduce payments in the event of a hardship, and loans insured by the Federal Housing Administration are sometimes eligible for one-time payments from the government. But sometimes, lenders either don’t do an adequate job informing the owner of his options or the owner doesn’t take advantage of them before it’s too late. If you are one of the many people lurching toward foreclosure, there are a few things you can do before that final crash. Which options are right for you? Where can you go for good advice? Most important, whom can you trust when you’re wading through all the dot-com sites on the Internet that promise instant relief, easy credit repair and a quick resolution to all your problems? The U.S. Department of Housing and Urban Development (HUD) offers easy-to-understand on-line advice on how to avoid foreclosure. It’s available on the HUD Web site. The site provides links to HUD-approved housing counseling agencies that have information on free credit counseling and other services.
youtube
Still feeling overwhelmed? You may want to consult an experienced Sandy Utah foreclosure lawyer. It makes sense to work with someone who knows the rules. People may have their own ideas about what they want to do, but banks are not necessarily going to agree. They’re used to putting round pegs into round holes. Of course, it is best not to start down that slippery slope. Many foreclosures could have been prevented had the homeowner just recognized a few warning signs. These include missed mortgage payments, late notices and collection attempts. If you have missed only one payment, you have a number of options available to you. Miss several payments, and the options start to disappear. Anyone can find himself in unexpected financial circumstances and subject to foreclosure. Whether you’re in straitened circumstances because of business conditions, illness or a lifestyle that ultimately has worked against you, the fact is, you’ll have to formulate a goal about what to do. The most important thing is to set a goal about what you want to have happen. Then, it’s all about what you have to do to manage to keep that goal. That goal may or may not include keeping your house. If your monthly house payment, including property taxes and insurance, does not exceed 40 percent of your gross monthly income, you should consider selling or transferring the property to avoid negative impacts to your credit. For some people, that can be a relief. In fact, it may not be feasible economically to keep your house. If your house is worth more than you owe on it, selling it can allow you to pay off your mortgage, back payments and penalties. At the worst, you want zero equity. You never want negative equity. For most people, holding onto the house is crucial. The key to ensuring that will happen is to take a proactive approach to your debt. Just starting down that slippery slope? Only missed a few payments? The worst thing you can do is to do nothing. Communication is key. The most common but absolutely the worst response to mounting debt is simply to bury your head in the sand. Instead, you should talk directly with your lender. To a lender, foreclosure is the last resort, especially since the process is expensive, time-consuming and unprofitable. In a situation called “special forbearance, your lender will try to arrange a repayment plan that is tailored to your financial situation. In some instances, this can include a reduction or even a temporary suspension of your payments. A deferred payment program allows you to make up past-due amounts by adding them to your regular payments. Your lender also may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current.
youtube
You have to make sure that you will be able to make the new payments. People always make the mistake of thinking they will be able to do it, and then suddenly they have double trouble. Talking to a consumer credit counseling service can help you consolidate your bills and get budgeting advice. Be careful here, though. Some “counseling” services actually function as fronts for lawyers who want to steer you into bankruptcy proceedings. Others charge for services rendered. According to HUD, if you are paying for a consumer credit counseling service, you may be paying for a service you could do yourself or for free with the help of a HUD-approved housing counseling agency. Whether you are working on your own or with a counselor, it’s important to get a clear picture of your circumstances. That can be difficult, especially if you are one of those people whose head-in-the-sand approach has gotten you into this predicament in the first place. Make list of your expenses under six categories: • Essential expenses – food. • Very important expenses, such as first mortgage, rent, other mortgages, utilities and work-related transportation. • Important expenses, including clothes, taxes, other transportation and credit-card payments if credit is good. • Regular expenses, including daily expenses, the cost of household goods and credit-card payments if credit already has been affected. • Luxury expenses, such as entertainment, vacations and jewelry. • Wasteful expenses, including gambling, playing the lottery or falling for get-rich-quick scams. You have to be willing to take a real hard look at what got you into trouble in the first place. You may have to make some major changes in your lifestyle. After determining your financial situation, it’s time to consider your options. Mortgage modification allows you to refinance your debt or extend the term of your loan. After paying a lump sum to the bank, you then can re-amortize or extend the loan. Then there’s refinancing. Most people, should be able to refinance their homes with second mortgages. The problem comes if you haven’t come to terms with what got you into trouble in the first place. If you have an ongoing income problem, going from a $20,000 to a $30,000 mortgage isn’t going to help. You’ll default on that too. A short sale can be useful if you owe more money on your house than it is worth. Though it may not save your house, it saves your credit and allows you to rehabilitate your finances and credit history. Keep in mind, though, that the money waived by the lender is treated by the IRS as taxable income. Often seen as a last resort, a deed in lieu of foreclosure means that you stave off foreclosure by returning the house to the lender. The bank keeps the deed, and you move out, but you won’t have that black mark on your credit. If you do have to file bankruptcy, a Chapter 13 bankruptcy reorganization will stop a foreclosure. It’s a misconception with bankruptcy that you’ll automatically lose your house. That’s absolutely not the case. In the end, it all boils down to just three simple classes of things: the things you can do, the things the bank can do, and the things you both agree to do. The bottom line is, most banks would rather have their money than have your house. But the most important thing is to get in touch with an experienced Sandy Utah foreclosure lawyer.
Sandy Utah Foreclosure Lawyer Free Consultation
When you need legal help for a foreclosure in Sandy Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Can A DUI Charge Be Reduced?
How To Avoid Problems With Employment References
Divorce Attorney Near Me
Utah Custody
Which Bankruptcy Is Better For Your Credit?
Can You Get A DUI Without Being Pulled Over?
Source: https://www.ascentlawfirm.com/foreclosure-lawyer-sandy-utah/
0 notes
coming-from-hell · 5 years ago
Text
Foreclosure Lawyer Sandy Utah
If you are a victim of predatory lending and facing foreclosure, speak to an experienced Sandy Utah foreclosure lawyer. While predatory home mortgage lending is a highly disturbing and relatively new phenomenon, no one ought to be surprised at its existence. Ours is a society, a capitalist/market economy, a political system that breeds predatory behavior, particularly against the most vulnerable segments of the population, throughout and consistently.
youtube
(Just to give the term an additional grim flavor, my dictionary uses these descriptive definitional terms: “plundering,” “pillaging,” “marauding.”) Whether it’s the criminal justice system, the health system, the education system, or any other of the society’s basics, “the poor pay more” (in David Caplowitz’s phrase and title from his 1967 classic), get less, get shafted. And of course, within the housing system, predatory lending is just one piece of the larger picture. Among the other ways the housing system disappoints and preys upon poor, elderly, and minority residents are redlining (mortgage and insurance versions); evictions; discrimination by landlords, lenders, real estate agents, and other gatekeepers; excessive housing cost burdens; poor code enforcement; gentrification pressures; and so on. Those victimized by predatory lending are primarily persons who already own their homes, although a certain portion of this nefarious activity is foisted upon renters desiring home ownership. And in this regard, we need to question the (bipartisan) push to have everyone attain “the American dream”—a political, advertising, and cultural campaign that unfortunately causes grief for all too many households. While the nation’s home ownership rate has been rising, so has the foreclosure rate—primarily, of course, for low-income households.
youtube
The distinction between subprime and predatory lending can be fuzzy. The National Community Reinvestment Coalition (NCRC) recently offered the following definitions to help clarify the differences. NCRC defined subprime lending in the following terms: A subprime loan is a loan to a borrower with less than perfect credit. In order to compensate for the added risk associated with subprime loans, lending institutions charge higher interest rates. In contrast, a prime loan is a loan made to a credit- worthy borrower at prevailing interest rates. Loans are classified as A, A–, B, C, and D loans. “A” loans are prime loans that are made at the going rate while A– loans are loans made at slightly higher interest rates to borrowers with only a few blemishes on their credit report. So-called B, C, and D loans are made to borrow- ers with significant imperfections in their credit history. “D” loans carry the high- est interest rate because they are made to borrowers with the worst credit histories that include bankruptcy. Predatory loans are defined in the following terms: A predatory loan is an unsuitable loan designed to exploit vulnerable and unso- phisticated borrowers. Predatory loans are a subset of subprime loans. A predatory loan has one or more of the following features: 1) charges more in interest and fees than is required to cover the added risk of lending to borrowers with credit im- perfections, 2) contains abusive terms and conditions that trap borrowers and lead to increased indebtedness, 3) does not take into account the borrower’s ability to repay the loan, and 4) often violates fair lending laws by targeting women, minorities and communities of color.
youtube
A variety of predatory practices have been identified. They include the following: • Higher interest rates and fees than can be justified by the risk posed by the borrower. • Balloon payments requiring borrowers to pay off the entire balance of a loan by making a substantial payment after a period of time during which they have been making regular monthly payments. • Required single premium credit life insurance where the borrower must pay the entire annual premium at the beginning of the policy period rather than in monthly or quarterly payments; with this cost folded into the loan, the total cost, including interest payments, is higher throughout the life of the loan. • Forced placed home insurance, where the lender requires the borrower to pay for a policy selected by the lender. • High prepayment penalties, which trap borrowers in the loans. • Fees for services that may or may not actually be provided. • Loans based on the value of the property with no regard for the borrower’s ability to make payments. • Loan flipping, whereby lenders use deceptive and high-pressure tactics resulting in the frequent refinancing of loans with additional fees added each time. • Negatively amortized loans and loans for more than the value of the home, which result in the borrower owing more money at the end of the loan period than when they started making payments Subprime lending is not a new business. Lending to people with blemished credit histories has been around seemingly for as long as there have been creditors and debtors. Examples of the long-standing tradition of subprime lending in the United States run the gamut from pawnshops to the more positively regarded community development home loans. Subprime lending has, however, changed since the 1980s as the technological, macroeconomic, and legal frameworks in which these transactions take place have evolved, giving rise to increasingly sophisticated operations and substantial growth. Accompanying this growth has been the notable emergence of predatory home mortgage lending within the subprime credit sector. About 90 percent of foreclosure cases involve homeowners who were put into foreclosure without being given their options. The banks handle many loans and sometimes outsource collection efforts so that borrowers don’t get the case-by-case treatment that they should.
youtube
For their part, bank officials say they make extraordinary efforts to avoid taking a home. Most of the time, foreclosing is actually much less profitable than keeping the homeowner in the house. Homes in foreclosure normally sell at deeply discounted prices. But both sides can agree that many homeowners facing defaults on their loans don’t know what steps they can take to avoid foreclosure. That misdirection can lead to thousands of dollars in attorneys fees and foreclosure sales. The lack of knowledge of those services is something that officials at the U.S. Department of Housing and Urban Development admit is a problem. Loans insured by the Federal Housing Administration carry special safeguards to help buyers who fall behind on payments. Banks can sometimes temporarily suspend or reduce payments in the event of a hardship, and loans insured by the Federal Housing Administration are sometimes eligible for one-time payments from the government. But sometimes, lenders either don’t do an adequate job informing the owner of his options or the owner doesn’t take advantage of them before it’s too late. If you are one of the many people lurching toward foreclosure, there are a few things you can do before that final crash. Which options are right for you? Where can you go for good advice? Most important, whom can you trust when you’re wading through all the dot-com sites on the Internet that promise instant relief, easy credit repair and a quick resolution to all your problems? The U.S. Department of Housing and Urban Development (HUD) offers easy-to-understand on-line advice on how to avoid foreclosure. It’s available on the HUD Web site. The site provides links to HUD-approved housing counseling agencies that have information on free credit counseling and other services.
youtube
Still feeling overwhelmed? You may want to consult an experienced Sandy Utah foreclosure lawyer. It makes sense to work with someone who knows the rules. People may have their own ideas about what they want to do, but banks are not necessarily going to agree. They’re used to putting round pegs into round holes. Of course, it is best not to start down that slippery slope. Many foreclosures could have been prevented had the homeowner just recognized a few warning signs. These include missed mortgage payments, late notices and collection attempts. If you have missed only one payment, you have a number of options available to you. Miss several payments, and the options start to disappear. Anyone can find himself in unexpected financial circumstances and subject to foreclosure. Whether you’re in straitened circumstances because of business conditions, illness or a lifestyle that ultimately has worked against you, the fact is, you’ll have to formulate a goal about what to do. The most important thing is to set a goal about what you want to have happen. Then, it’s all about what you have to do to manage to keep that goal. That goal may or may not include keeping your house. If your monthly house payment, including property taxes and insurance, does not exceed 40 percent of your gross monthly income, you should consider selling or transferring the property to avoid negative impacts to your credit. For some people, that can be a relief. In fact, it may not be feasible economically to keep your house. If your house is worth more than you owe on it, selling it can allow you to pay off your mortgage, back payments and penalties. At the worst, you want zero equity. You never want negative equity. For most people, holding onto the house is crucial. The key to ensuring that will happen is to take a proactive approach to your debt. Just starting down that slippery slope? Only missed a few payments? The worst thing you can do is to do nothing. Communication is key. The most common but absolutely the worst response to mounting debt is simply to bury your head in the sand. Instead, you should talk directly with your lender. To a lender, foreclosure is the last resort, especially since the process is expensive, time-consuming and unprofitable. In a situation called “special forbearance, your lender will try to arrange a repayment plan that is tailored to your financial situation. In some instances, this can include a reduction or even a temporary suspension of your payments. A deferred payment program allows you to make up past-due amounts by adding them to your regular payments. Your lender also may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current.
youtube
You have to make sure that you will be able to make the new payments. People always make the mistake of thinking they will be able to do it, and then suddenly they have double trouble. Talking to a consumer credit counseling service can help you consolidate your bills and get budgeting advice. Be careful here, though. Some “counseling” services actually function as fronts for lawyers who want to steer you into bankruptcy proceedings. Others charge for services rendered. According to HUD, if you are paying for a consumer credit counseling service, you may be paying for a service you could do yourself or for free with the help of a HUD-approved housing counseling agency. Whether you are working on your own or with a counselor, it’s important to get a clear picture of your circumstances. That can be difficult, especially if you are one of those people whose head-in-the-sand approach has gotten you into this predicament in the first place. Make list of your expenses under six categories: • Essential expenses – food. • Very important expenses, such as first mortgage, rent, other mortgages, utilities and work-related transportation. • Important expenses, including clothes, taxes, other transportation and credit-card payments if credit is good. • Regular expenses, including daily expenses, the cost of household goods and credit-card payments if credit already has been affected. • Luxury expenses, such as entertainment, vacations and jewelry. • Wasteful expenses, including gambling, playing the lottery or falling for get-rich-quick scams. You have to be willing to take a real hard look at what got you into trouble in the first place. You may have to make some major changes in your lifestyle. After determining your financial situation, it’s time to consider your options. Mortgage modification allows you to refinance your debt or extend the term of your loan. After paying a lump sum to the bank, you then can re-amortize or extend the loan. Then there’s refinancing. Most people, should be able to refinance their homes with second mortgages. The problem comes if you haven’t come to terms with what got you into trouble in the first place. If you have an ongoing income problem, going from a $20,000 to a $30,000 mortgage isn’t going to help. You’ll default on that too. A short sale can be useful if you owe more money on your house than it is worth. Though it may not save your house, it saves your credit and allows you to rehabilitate your finances and credit history. Keep in mind, though, that the money waived by the lender is treated by the IRS as taxable income. Often seen as a last resort, a deed in lieu of foreclosure means that you stave off foreclosure by returning the house to the lender. The bank keeps the deed, and you move out, but you won’t have that black mark on your credit. If you do have to file bankruptcy, a Chapter 13 bankruptcy reorganization will stop a foreclosure. It’s a misconception with bankruptcy that you’ll automatically lose your house. That’s absolutely not the case. In the end, it all boils down to just three simple classes of things: the things you can do, the things the bank can do, and the things you both agree to do. The bottom line is, most banks would rather have their money than have your house. But the most important thing is to get in touch with an experienced Sandy Utah foreclosure lawyer.
Sandy Utah Foreclosure Lawyer Free Consultation
When you need legal help for a foreclosure in Sandy Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Can A DUI Charge Be Reduced?
How To Avoid Problems With Employment References
Divorce Attorney Near Me
Utah Custody
Which Bankruptcy Is Better For Your Credit?
Can You Get A DUI Without Being Pulled Over?
Source: https://www.ascentlawfirm.com/foreclosure-lawyer-sandy-utah/
0 notes
asafeatherwould · 5 years ago
Text
Foreclosure Lawyer Sandy Utah
If you are a victim of predatory lending and facing foreclosure, speak to an experienced Sandy Utah foreclosure lawyer. While predatory home mortgage lending is a highly disturbing and relatively new phenomenon, no one ought to be surprised at its existence. Ours is a society, a capitalist/market economy, a political system that breeds predatory behavior, particularly against the most vulnerable segments of the population, throughout and consistently.
youtube
(Just to give the term an additional grim flavor, my dictionary uses these descriptive definitional terms: “plundering,” “pillaging,” “marauding.”) Whether it’s the criminal justice system, the health system, the education system, or any other of the society’s basics, “the poor pay more” (in David Caplowitz’s phrase and title from his 1967 classic), get less, get shafted. And of course, within the housing system, predatory lending is just one piece of the larger picture. Among the other ways the housing system disappoints and preys upon poor, elderly, and minority residents are redlining (mortgage and insurance versions); evictions; discrimination by landlords, lenders, real estate agents, and other gatekeepers; excessive housing cost burdens; poor code enforcement; gentrification pressures; and so on. Those victimized by predatory lending are primarily persons who already own their homes, although a certain portion of this nefarious activity is foisted upon renters desiring home ownership. And in this regard, we need to question the (bipartisan) push to have everyone attain “the American dream”—a political, advertising, and cultural campaign that unfortunately causes grief for all too many households. While the nation’s home ownership rate has been rising, so has the foreclosure rate—primarily, of course, for low-income households.
youtube
The distinction between subprime and predatory lending can be fuzzy. The National Community Reinvestment Coalition (NCRC) recently offered the following definitions to help clarify the differences. NCRC defined subprime lending in the following terms: A subprime loan is a loan to a borrower with less than perfect credit. In order to compensate for the added risk associated with subprime loans, lending institutions charge higher interest rates. In contrast, a prime loan is a loan made to a credit- worthy borrower at prevailing interest rates. Loans are classified as A, A–, B, C, and D loans. “A” loans are prime loans that are made at the going rate while A– loans are loans made at slightly higher interest rates to borrowers with only a few blemishes on their credit report. So-called B, C, and D loans are made to borrow- ers with significant imperfections in their credit history. “D” loans carry the high- est interest rate because they are made to borrowers with the worst credit histories that include bankruptcy. Predatory loans are defined in the following terms: A predatory loan is an unsuitable loan designed to exploit vulnerable and unso- phisticated borrowers. Predatory loans are a subset of subprime loans. A predatory loan has one or more of the following features: 1) charges more in interest and fees than is required to cover the added risk of lending to borrowers with credit im- perfections, 2) contains abusive terms and conditions that trap borrowers and lead to increased indebtedness, 3) does not take into account the borrower’s ability to repay the loan, and 4) often violates fair lending laws by targeting women, minorities and communities of color.
youtube
A variety of predatory practices have been identified. They include the following: • Higher interest rates and fees than can be justified by the risk posed by the borrower. • Balloon payments requiring borrowers to pay off the entire balance of a loan by making a substantial payment after a period of time during which they have been making regular monthly payments. • Required single premium credit life insurance where the borrower must pay the entire annual premium at the beginning of the policy period rather than in monthly or quarterly payments; with this cost folded into the loan, the total cost, including interest payments, is higher throughout the life of the loan. • Forced placed home insurance, where the lender requires the borrower to pay for a policy selected by the lender. • High prepayment penalties, which trap borrowers in the loans. • Fees for services that may or may not actually be provided. • Loans based on the value of the property with no regard for the borrower’s ability to make payments. • Loan flipping, whereby lenders use deceptive and high-pressure tactics resulting in the frequent refinancing of loans with additional fees added each time. • Negatively amortized loans and loans for more than the value of the home, which result in the borrower owing more money at the end of the loan period than when they started making payments Subprime lending is not a new business. Lending to people with blemished credit histories has been around seemingly for as long as there have been creditors and debtors. Examples of the long-standing tradition of subprime lending in the United States run the gamut from pawnshops to the more positively regarded community development home loans. Subprime lending has, however, changed since the 1980s as the technological, macroeconomic, and legal frameworks in which these transactions take place have evolved, giving rise to increasingly sophisticated operations and substantial growth. Accompanying this growth has been the notable emergence of predatory home mortgage lending within the subprime credit sector. About 90 percent of foreclosure cases involve homeowners who were put into foreclosure without being given their options. The banks handle many loans and sometimes outsource collection efforts so that borrowers don’t get the case-by-case treatment that they should.
youtube
For their part, bank officials say they make extraordinary efforts to avoid taking a home. Most of the time, foreclosing is actually much less profitable than keeping the homeowner in the house. Homes in foreclosure normally sell at deeply discounted prices. But both sides can agree that many homeowners facing defaults on their loans don’t know what steps they can take to avoid foreclosure. That misdirection can lead to thousands of dollars in attorneys fees and foreclosure sales. The lack of knowledge of those services is something that officials at the U.S. Department of Housing and Urban Development admit is a problem. Loans insured by the Federal Housing Administration carry special safeguards to help buyers who fall behind on payments. Banks can sometimes temporarily suspend or reduce payments in the event of a hardship, and loans insured by the Federal Housing Administration are sometimes eligible for one-time payments from the government. But sometimes, lenders either don’t do an adequate job informing the owner of his options or the owner doesn’t take advantage of them before it’s too late. If you are one of the many people lurching toward foreclosure, there are a few things you can do before that final crash. Which options are right for you? Where can you go for good advice? Most important, whom can you trust when you’re wading through all the dot-com sites on the Internet that promise instant relief, easy credit repair and a quick resolution to all your problems? The U.S. Department of Housing and Urban Development (HUD) offers easy-to-understand on-line advice on how to avoid foreclosure. It’s available on the HUD Web site. The site provides links to HUD-approved housing counseling agencies that have information on free credit counseling and other services.
youtube
Still feeling overwhelmed? You may want to consult an experienced Sandy Utah foreclosure lawyer. It makes sense to work with someone who knows the rules. People may have their own ideas about what they want to do, but banks are not necessarily going to agree. They’re used to putting round pegs into round holes. Of course, it is best not to start down that slippery slope. Many foreclosures could have been prevented had the homeowner just recognized a few warning signs. These include missed mortgage payments, late notices and collection attempts. If you have missed only one payment, you have a number of options available to you. Miss several payments, and the options start to disappear. Anyone can find himself in unexpected financial circumstances and subject to foreclosure. Whether you’re in straitened circumstances because of business conditions, illness or a lifestyle that ultimately has worked against you, the fact is, you’ll have to formulate a goal about what to do. The most important thing is to set a goal about what you want to have happen. Then, it’s all about what you have to do to manage to keep that goal. That goal may or may not include keeping your house. If your monthly house payment, including property taxes and insurance, does not exceed 40 percent of your gross monthly income, you should consider selling or transferring the property to avoid negative impacts to your credit. For some people, that can be a relief. In fact, it may not be feasible economically to keep your house. If your house is worth more than you owe on it, selling it can allow you to pay off your mortgage, back payments and penalties. At the worst, you want zero equity. You never want negative equity. For most people, holding onto the house is crucial. The key to ensuring that will happen is to take a proactive approach to your debt. Just starting down that slippery slope? Only missed a few payments? The worst thing you can do is to do nothing. Communication is key. The most common but absolutely the worst response to mounting debt is simply to bury your head in the sand. Instead, you should talk directly with your lender. To a lender, foreclosure is the last resort, especially since the process is expensive, time-consuming and unprofitable. In a situation called “special forbearance, your lender will try to arrange a repayment plan that is tailored to your financial situation. In some instances, this can include a reduction or even a temporary suspension of your payments. A deferred payment program allows you to make up past-due amounts by adding them to your regular payments. Your lender also may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current.
youtube
You have to make sure that you will be able to make the new payments. People always make the mistake of thinking they will be able to do it, and then suddenly they have double trouble. Talking to a consumer credit counseling service can help you consolidate your bills and get budgeting advice. Be careful here, though. Some “counseling” services actually function as fronts for lawyers who want to steer you into bankruptcy proceedings. Others charge for services rendered. According to HUD, if you are paying for a consumer credit counseling service, you may be paying for a service you could do yourself or for free with the help of a HUD-approved housing counseling agency. Whether you are working on your own or with a counselor, it’s important to get a clear picture of your circumstances. That can be difficult, especially if you are one of those people whose head-in-the-sand approach has gotten you into this predicament in the first place. Make list of your expenses under six categories: • Essential expenses – food. • Very important expenses, such as first mortgage, rent, other mortgages, utilities and work-related transportation. • Important expenses, including clothes, taxes, other transportation and credit-card payments if credit is good. • Regular expenses, including daily expenses, the cost of household goods and credit-card payments if credit already has been affected. • Luxury expenses, such as entertainment, vacations and jewelry. • Wasteful expenses, including gambling, playing the lottery or falling for get-rich-quick scams. You have to be willing to take a real hard look at what got you into trouble in the first place. You may have to make some major changes in your lifestyle. After determining your financial situation, it’s time to consider your options. Mortgage modification allows you to refinance your debt or extend the term of your loan. After paying a lump sum to the bank, you then can re-amortize or extend the loan. Then there’s refinancing. Most people, should be able to refinance their homes with second mortgages. The problem comes if you haven’t come to terms with what got you into trouble in the first place. If you have an ongoing income problem, going from a $20,000 to a $30,000 mortgage isn’t going to help. You’ll default on that too. A short sale can be useful if you owe more money on your house than it is worth. Though it may not save your house, it saves your credit and allows you to rehabilitate your finances and credit history. Keep in mind, though, that the money waived by the lender is treated by the IRS as taxable income. Often seen as a last resort, a deed in lieu of foreclosure means that you stave off foreclosure by returning the house to the lender. The bank keeps the deed, and you move out, but you won’t have that black mark on your credit. If you do have to file bankruptcy, a Chapter 13 bankruptcy reorganization will stop a foreclosure. It’s a misconception with bankruptcy that you’ll automatically lose your house. That’s absolutely not the case. In the end, it all boils down to just three simple classes of things: the things you can do, the things the bank can do, and the things you both agree to do. The bottom line is, most banks would rather have their money than have your house. But the most important thing is to get in touch with an experienced Sandy Utah foreclosure lawyer.
Sandy Utah Foreclosure Lawyer Free Consultation
When you need legal help for a foreclosure in Sandy Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Can A DUI Charge Be Reduced?
How To Avoid Problems With Employment References
Divorce Attorney Near Me
Utah Custody
Which Bankruptcy Is Better For Your Credit?
Can You Get A DUI Without Being Pulled Over?
Source: https://www.ascentlawfirm.com/foreclosure-lawyer-sandy-utah/
0 notes
aretia · 5 years ago
Text
Foreclosure Lawyer Sandy Utah
If you are a victim of predatory lending and facing foreclosure, speak to an experienced Sandy Utah foreclosure lawyer. While predatory home mortgage lending is a highly disturbing and relatively new phenomenon, no one ought to be surprised at its existence. Ours is a society, a capitalist/market economy, a political system that breeds predatory behavior, particularly against the most vulnerable segments of the population, throughout and consistently.
youtube
(Just to give the term an additional grim flavor, my dictionary uses these descriptive definitional terms: “plundering,” “pillaging,” “marauding.”) Whether it’s the criminal justice system, the health system, the education system, or any other of the society’s basics, “the poor pay more” (in David Caplowitz’s phrase and title from his 1967 classic), get less, get shafted. And of course, within the housing system, predatory lending is just one piece of the larger picture. Among the other ways the housing system disappoints and preys upon poor, elderly, and minority residents are redlining (mortgage and insurance versions); evictions; discrimination by landlords, lenders, real estate agents, and other gatekeepers; excessive housing cost burdens; poor code enforcement; gentrification pressures; and so on. Those victimized by predatory lending are primarily persons who already own their homes, although a certain portion of this nefarious activity is foisted upon renters desiring home ownership. And in this regard, we need to question the (bipartisan) push to have everyone attain “the American dream”—a political, advertising, and cultural campaign that unfortunately causes grief for all too many households. While the nation’s home ownership rate has been rising, so has the foreclosure rate—primarily, of course, for low-income households.
youtube
The distinction between subprime and predatory lending can be fuzzy. The National Community Reinvestment Coalition (NCRC) recently offered the following definitions to help clarify the differences. NCRC defined subprime lending in the following terms: A subprime loan is a loan to a borrower with less than perfect credit. In order to compensate for the added risk associated with subprime loans, lending institutions charge higher interest rates. In contrast, a prime loan is a loan made to a credit- worthy borrower at prevailing interest rates. Loans are classified as A, A–, B, C, and D loans. “A” loans are prime loans that are made at the going rate while A– loans are loans made at slightly higher interest rates to borrowers with only a few blemishes on their credit report. So-called B, C, and D loans are made to borrow- ers with significant imperfections in their credit history. “D” loans carry the high- est interest rate because they are made to borrowers with the worst credit histories that include bankruptcy. Predatory loans are defined in the following terms: A predatory loan is an unsuitable loan designed to exploit vulnerable and unso- phisticated borrowers. Predatory loans are a subset of subprime loans. A predatory loan has one or more of the following features: 1) charges more in interest and fees than is required to cover the added risk of lending to borrowers with credit im- perfections, 2) contains abusive terms and conditions that trap borrowers and lead to increased indebtedness, 3) does not take into account the borrower’s ability to repay the loan, and 4) often violates fair lending laws by targeting women, minorities and communities of color.
youtube
A variety of predatory practices have been identified. They include the following: • Higher interest rates and fees than can be justified by the risk posed by the borrower. • Balloon payments requiring borrowers to pay off the entire balance of a loan by making a substantial payment after a period of time during which they have been making regular monthly payments. • Required single premium credit life insurance where the borrower must pay the entire annual premium at the beginning of the policy period rather than in monthly or quarterly payments; with this cost folded into the loan, the total cost, including interest payments, is higher throughout the life of the loan. • Forced placed home insurance, where the lender requires the borrower to pay for a policy selected by the lender. • High prepayment penalties, which trap borrowers in the loans. • Fees for services that may or may not actually be provided. • Loans based on the value of the property with no regard for the borrower’s ability to make payments. • Loan flipping, whereby lenders use deceptive and high-pressure tactics resulting in the frequent refinancing of loans with additional fees added each time. • Negatively amortized loans and loans for more than the value of the home, which result in the borrower owing more money at the end of the loan period than when they started making payments Subprime lending is not a new business. Lending to people with blemished credit histories has been around seemingly for as long as there have been creditors and debtors. Examples of the long-standing tradition of subprime lending in the United States run the gamut from pawnshops to the more positively regarded community development home loans. Subprime lending has, however, changed since the 1980s as the technological, macroeconomic, and legal frameworks in which these transactions take place have evolved, giving rise to increasingly sophisticated operations and substantial growth. Accompanying this growth has been the notable emergence of predatory home mortgage lending within the subprime credit sector. About 90 percent of foreclosure cases involve homeowners who were put into foreclosure without being given their options. The banks handle many loans and sometimes outsource collection efforts so that borrowers don’t get the case-by-case treatment that they should.
youtube
For their part, bank officials say they make extraordinary efforts to avoid taking a home. Most of the time, foreclosing is actually much less profitable than keeping the homeowner in the house. Homes in foreclosure normally sell at deeply discounted prices. But both sides can agree that many homeowners facing defaults on their loans don’t know what steps they can take to avoid foreclosure. That misdirection can lead to thousands of dollars in attorneys fees and foreclosure sales. The lack of knowledge of those services is something that officials at the U.S. Department of Housing and Urban Development admit is a problem. Loans insured by the Federal Housing Administration carry special safeguards to help buyers who fall behind on payments. Banks can sometimes temporarily suspend or reduce payments in the event of a hardship, and loans insured by the Federal Housing Administration are sometimes eligible for one-time payments from the government. But sometimes, lenders either don’t do an adequate job informing the owner of his options or the owner doesn’t take advantage of them before it’s too late. If you are one of the many people lurching toward foreclosure, there are a few things you can do before that final crash. Which options are right for you? Where can you go for good advice? Most important, whom can you trust when you’re wading through all the dot-com sites on the Internet that promise instant relief, easy credit repair and a quick resolution to all your problems? The U.S. Department of Housing and Urban Development (HUD) offers easy-to-understand on-line advice on how to avoid foreclosure. It’s available on the HUD Web site. The site provides links to HUD-approved housing counseling agencies that have information on free credit counseling and other services.
youtube
Still feeling overwhelmed? You may want to consult an experienced Sandy Utah foreclosure lawyer. It makes sense to work with someone who knows the rules. People may have their own ideas about what they want to do, but banks are not necessarily going to agree. They’re used to putting round pegs into round holes. Of course, it is best not to start down that slippery slope. Many foreclosures could have been prevented had the homeowner just recognized a few warning signs. These include missed mortgage payments, late notices and collection attempts. If you have missed only one payment, you have a number of options available to you. Miss several payments, and the options start to disappear. Anyone can find himself in unexpected financial circumstances and subject to foreclosure. Whether you’re in straitened circumstances because of business conditions, illness or a lifestyle that ultimately has worked against you, the fact is, you’ll have to formulate a goal about what to do. The most important thing is to set a goal about what you want to have happen. Then, it’s all about what you have to do to manage to keep that goal. That goal may or may not include keeping your house. If your monthly house payment, including property taxes and insurance, does not exceed 40 percent of your gross monthly income, you should consider selling or transferring the property to avoid negative impacts to your credit. For some people, that can be a relief. In fact, it may not be feasible economically to keep your house. If your house is worth more than you owe on it, selling it can allow you to pay off your mortgage, back payments and penalties. At the worst, you want zero equity. You never want negative equity. For most people, holding onto the house is crucial. The key to ensuring that will happen is to take a proactive approach to your debt. Just starting down that slippery slope? Only missed a few payments? The worst thing you can do is to do nothing. Communication is key. The most common but absolutely the worst response to mounting debt is simply to bury your head in the sand. Instead, you should talk directly with your lender. To a lender, foreclosure is the last resort, especially since the process is expensive, time-consuming and unprofitable. In a situation called “special forbearance, your lender will try to arrange a repayment plan that is tailored to your financial situation. In some instances, this can include a reduction or even a temporary suspension of your payments. A deferred payment program allows you to make up past-due amounts by adding them to your regular payments. Your lender also may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current.
youtube
You have to make sure that you will be able to make the new payments. People always make the mistake of thinking they will be able to do it, and then suddenly they have double trouble. Talking to a consumer credit counseling service can help you consolidate your bills and get budgeting advice. Be careful here, though. Some “counseling” services actually function as fronts for lawyers who want to steer you into bankruptcy proceedings. Others charge for services rendered. According to HUD, if you are paying for a consumer credit counseling service, you may be paying for a service you could do yourself or for free with the help of a HUD-approved housing counseling agency. Whether you are working on your own or with a counselor, it’s important to get a clear picture of your circumstances. That can be difficult, especially if you are one of those people whose head-in-the-sand approach has gotten you into this predicament in the first place. Make list of your expenses under six categories: • Essential expenses – food. • Very important expenses, such as first mortgage, rent, other mortgages, utilities and work-related transportation. • Important expenses, including clothes, taxes, other transportation and credit-card payments if credit is good. • Regular expenses, including daily expenses, the cost of household goods and credit-card payments if credit already has been affected. • Luxury expenses, such as entertainment, vacations and jewelry. • Wasteful expenses, including gambling, playing the lottery or falling for get-rich-quick scams. You have to be willing to take a real hard look at what got you into trouble in the first place. You may have to make some major changes in your lifestyle. After determining your financial situation, it’s time to consider your options. Mortgage modification allows you to refinance your debt or extend the term of your loan. After paying a lump sum to the bank, you then can re-amortize or extend the loan. Then there’s refinancing. Most people, should be able to refinance their homes with second mortgages. The problem comes if you haven’t come to terms with what got you into trouble in the first place. If you have an ongoing income problem, going from a $20,000 to a $30,000 mortgage isn’t going to help. You’ll default on that too. A short sale can be useful if you owe more money on your house than it is worth. Though it may not save your house, it saves your credit and allows you to rehabilitate your finances and credit history. Keep in mind, though, that the money waived by the lender is treated by the IRS as taxable income. Often seen as a last resort, a deed in lieu of foreclosure means that you stave off foreclosure by returning the house to the lender. The bank keeps the deed, and you move out, but you won’t have that black mark on your credit. If you do have to file bankruptcy, a Chapter 13 bankruptcy reorganization will stop a foreclosure. It’s a misconception with bankruptcy that you’ll automatically lose your house. That’s absolutely not the case. In the end, it all boils down to just three simple classes of things: the things you can do, the things the bank can do, and the things you both agree to do. The bottom line is, most banks would rather have their money than have your house. But the most important thing is to get in touch with an experienced Sandy Utah foreclosure lawyer.
Sandy Utah Foreclosure Lawyer Free Consultation
When you need legal help for a foreclosure in Sandy Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Can A DUI Charge Be Reduced?
How To Avoid Problems With Employment References
Divorce Attorney Near Me
Utah Custody
Which Bankruptcy Is Better For Your Credit?
Can You Get A DUI Without Being Pulled Over?
Source: https://www.ascentlawfirm.com/foreclosure-lawyer-sandy-utah/
0 notes
divorcelawyergunnisonutah · 5 years ago
Text
Foreclosure Lawyer Sandy Utah
If you are a victim of predatory lending and facing foreclosure, speak to an experienced Sandy Utah foreclosure lawyer. While predatory home mortgage lending is a highly disturbing and relatively new phenomenon, no one ought to be surprised at its existence. Ours is a society, a capitalist/market economy, a political system that breeds predatory behavior, particularly against the most vulnerable segments of the population, throughout and consistently.
youtube
(Just to give the term an additional grim flavor, my dictionary uses these descriptive definitional terms: “plundering,” “pillaging,” “marauding.”) Whether it’s the criminal justice system, the health system, the education system, or any other of the society’s basics, “the poor pay more” (in David Caplowitz’s phrase and title from his 1967 classic), get less, get shafted. And of course, within the housing system, predatory lending is just one piece of the larger picture. Among the other ways the housing system disappoints and preys upon poor, elderly, and minority residents are redlining (mortgage and insurance versions); evictions; discrimination by landlords, lenders, real estate agents, and other gatekeepers; excessive housing cost burdens; poor code enforcement; gentrification pressures; and so on. Those victimized by predatory lending are primarily persons who already own their homes, although a certain portion of this nefarious activity is foisted upon renters desiring home ownership. And in this regard, we need to question the (bipartisan) push to have everyone attain “the American dream”—a political, advertising, and cultural campaign that unfortunately causes grief for all too many households. While the nation’s home ownership rate has been rising, so has the foreclosure rate—primarily, of course, for low-income households.
youtube
The distinction between subprime and predatory lending can be fuzzy. The National Community Reinvestment Coalition (NCRC) recently offered the following definitions to help clarify the differences. NCRC defined subprime lending in the following terms: A subprime loan is a loan to a borrower with less than perfect credit. In order to compensate for the added risk associated with subprime loans, lending institutions charge higher interest rates. In contrast, a prime loan is a loan made to a credit- worthy borrower at prevailing interest rates. Loans are classified as A, A–, B, C, and D loans. “A” loans are prime loans that are made at the going rate while A– loans are loans made at slightly higher interest rates to borrowers with only a few blemishes on their credit report. So-called B, C, and D loans are made to borrow- ers with significant imperfections in their credit history. “D” loans carry the high- est interest rate because they are made to borrowers with the worst credit histories that include bankruptcy. Predatory loans are defined in the following terms: A predatory loan is an unsuitable loan designed to exploit vulnerable and unso- phisticated borrowers. Predatory loans are a subset of subprime loans. A predatory loan has one or more of the following features: 1) charges more in interest and fees than is required to cover the added risk of lending to borrowers with credit im- perfections, 2) contains abusive terms and conditions that trap borrowers and lead to increased indebtedness, 3) does not take into account the borrower’s ability to repay the loan, and 4) often violates fair lending laws by targeting women, minorities and communities of color.
youtube
A variety of predatory practices have been identified. They include the following: • Higher interest rates and fees than can be justified by the risk posed by the borrower. • Balloon payments requiring borrowers to pay off the entire balance of a loan by making a substantial payment after a period of time during which they have been making regular monthly payments. • Required single premium credit life insurance where the borrower must pay the entire annual premium at the beginning of the policy period rather than in monthly or quarterly payments; with this cost folded into the loan, the total cost, including interest payments, is higher throughout the life of the loan. • Forced placed home insurance, where the lender requires the borrower to pay for a policy selected by the lender. • High prepayment penalties, which trap borrowers in the loans. • Fees for services that may or may not actually be provided. • Loans based on the value of the property with no regard for the borrower’s ability to make payments. • Loan flipping, whereby lenders use deceptive and high-pressure tactics resulting in the frequent refinancing of loans with additional fees added each time. • Negatively amortized loans and loans for more than the value of the home, which result in the borrower owing more money at the end of the loan period than when they started making payments Subprime lending is not a new business. Lending to people with blemished credit histories has been around seemingly for as long as there have been creditors and debtors. Examples of the long-standing tradition of subprime lending in the United States run the gamut from pawnshops to the more positively regarded community development home loans. Subprime lending has, however, changed since the 1980s as the technological, macroeconomic, and legal frameworks in which these transactions take place have evolved, giving rise to increasingly sophisticated operations and substantial growth. Accompanying this growth has been the notable emergence of predatory home mortgage lending within the subprime credit sector. About 90 percent of foreclosure cases involve homeowners who were put into foreclosure without being given their options. The banks handle many loans and sometimes outsource collection efforts so that borrowers don’t get the case-by-case treatment that they should.
youtube
For their part, bank officials say they make extraordinary efforts to avoid taking a home. Most of the time, foreclosing is actually much less profitable than keeping the homeowner in the house. Homes in foreclosure normally sell at deeply discounted prices. But both sides can agree that many homeowners facing defaults on their loans don’t know what steps they can take to avoid foreclosure. That misdirection can lead to thousands of dollars in attorneys fees and foreclosure sales. The lack of knowledge of those services is something that officials at the U.S. Department of Housing and Urban Development admit is a problem. Loans insured by the Federal Housing Administration carry special safeguards to help buyers who fall behind on payments. Banks can sometimes temporarily suspend or reduce payments in the event of a hardship, and loans insured by the Federal Housing Administration are sometimes eligible for one-time payments from the government. But sometimes, lenders either don’t do an adequate job informing the owner of his options or the owner doesn’t take advantage of them before it’s too late. If you are one of the many people lurching toward foreclosure, there are a few things you can do before that final crash. Which options are right for you? Where can you go for good advice? Most important, whom can you trust when you’re wading through all the dot-com sites on the Internet that promise instant relief, easy credit repair and a quick resolution to all your problems? The U.S. Department of Housing and Urban Development (HUD) offers easy-to-understand on-line advice on how to avoid foreclosure. It’s available on the HUD Web site. The site provides links to HUD-approved housing counseling agencies that have information on free credit counseling and other services.
youtube
Still feeling overwhelmed? You may want to consult an experienced Sandy Utah foreclosure lawyer. It makes sense to work with someone who knows the rules. People may have their own ideas about what they want to do, but banks are not necessarily going to agree. They’re used to putting round pegs into round holes. Of course, it is best not to start down that slippery slope. Many foreclosures could have been prevented had the homeowner just recognized a few warning signs. These include missed mortgage payments, late notices and collection attempts. If you have missed only one payment, you have a number of options available to you. Miss several payments, and the options start to disappear. Anyone can find himself in unexpected financial circumstances and subject to foreclosure. Whether you’re in straitened circumstances because of business conditions, illness or a lifestyle that ultimately has worked against you, the fact is, you’ll have to formulate a goal about what to do. The most important thing is to set a goal about what you want to have happen. Then, it’s all about what you have to do to manage to keep that goal. That goal may or may not include keeping your house. If your monthly house payment, including property taxes and insurance, does not exceed 40 percent of your gross monthly income, you should consider selling or transferring the property to avoid negative impacts to your credit. For some people, that can be a relief. In fact, it may not be feasible economically to keep your house. If your house is worth more than you owe on it, selling it can allow you to pay off your mortgage, back payments and penalties. At the worst, you want zero equity. You never want negative equity. For most people, holding onto the house is crucial. The key to ensuring that will happen is to take a proactive approach to your debt. Just starting down that slippery slope? Only missed a few payments? The worst thing you can do is to do nothing. Communication is key. The most common but absolutely the worst response to mounting debt is simply to bury your head in the sand. Instead, you should talk directly with your lender. To a lender, foreclosure is the last resort, especially since the process is expensive, time-consuming and unprofitable. In a situation called “special forbearance, your lender will try to arrange a repayment plan that is tailored to your financial situation. In some instances, this can include a reduction or even a temporary suspension of your payments. A deferred payment program allows you to make up past-due amounts by adding them to your regular payments. Your lender also may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current.
youtube
You have to make sure that you will be able to make the new payments. People always make the mistake of thinking they will be able to do it, and then suddenly they have double trouble. Talking to a consumer credit counseling service can help you consolidate your bills and get budgeting advice. Be careful here, though. Some “counseling” services actually function as fronts for lawyers who want to steer you into bankruptcy proceedings. Others charge for services rendered. According to HUD, if you are paying for a consumer credit counseling service, you may be paying for a service you could do yourself or for free with the help of a HUD-approved housing counseling agency. Whether you are working on your own or with a counselor, it’s important to get a clear picture of your circumstances. That can be difficult, especially if you are one of those people whose head-in-the-sand approach has gotten you into this predicament in the first place. Make list of your expenses under six categories: • Essential expenses – food. • Very important expenses, such as first mortgage, rent, other mortgages, utilities and work-related transportation. • Important expenses, including clothes, taxes, other transportation and credit-card payments if credit is good. • Regular expenses, including daily expenses, the cost of household goods and credit-card payments if credit already has been affected. • Luxury expenses, such as entertainment, vacations and jewelry. • Wasteful expenses, including gambling, playing the lottery or falling for get-rich-quick scams. You have to be willing to take a real hard look at what got you into trouble in the first place. You may have to make some major changes in your lifestyle. After determining your financial situation, it’s time to consider your options. Mortgage modification allows you to refinance your debt or extend the term of your loan. After paying a lump sum to the bank, you then can re-amortize or extend the loan. Then there’s refinancing. Most people, should be able to refinance their homes with second mortgages. The problem comes if you haven’t come to terms with what got you into trouble in the first place. If you have an ongoing income problem, going from a $20,000 to a $30,000 mortgage isn’t going to help. You’ll default on that too. A short sale can be useful if you owe more money on your house than it is worth. Though it may not save your house, it saves your credit and allows you to rehabilitate your finances and credit history. Keep in mind, though, that the money waived by the lender is treated by the IRS as taxable income. Often seen as a last resort, a deed in lieu of foreclosure means that you stave off foreclosure by returning the house to the lender. The bank keeps the deed, and you move out, but you won’t have that black mark on your credit. If you do have to file bankruptcy, a Chapter 13 bankruptcy reorganization will stop a foreclosure. It’s a misconception with bankruptcy that you’ll automatically lose your house. That’s absolutely not the case. In the end, it all boils down to just three simple classes of things: the things you can do, the things the bank can do, and the things you both agree to do. The bottom line is, most banks would rather have their money than have your house. But the most important thing is to get in touch with an experienced Sandy Utah foreclosure lawyer.
Sandy Utah Foreclosure Lawyer Free Consultation
When you need legal help for a foreclosure in Sandy Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Can A DUI Charge Be Reduced?
How To Avoid Problems With Employment References
Divorce Attorney Near Me
Utah Custody
Which Bankruptcy Is Better For Your Credit?
Can You Get A DUI Without Being Pulled Over?
from Michael Anderson https://www.ascentlawfirm.com/foreclosure-lawyer-sandy-utah/
0 notes
advertphoto · 5 years ago
Text
Foreclosure Lawyer Sandy Utah
If you are a victim of predatory lending and facing foreclosure, speak to an experienced Sandy Utah foreclosure lawyer. While predatory home mortgage lending is a highly disturbing and relatively new phenomenon, no one ought to be surprised at its existence. Ours is a society, a capitalist/market economy, a political system that breeds predatory behavior, particularly against the most vulnerable segments of the population, throughout and consistently.
youtube
(Just to give the term an additional grim flavor, my dictionary uses these descriptive definitional terms: “plundering,” “pillaging,” “marauding.”) Whether it’s the criminal justice system, the health system, the education system, or any other of the society’s basics, “the poor pay more” (in David Caplowitz’s phrase and title from his 1967 classic), get less, get shafted. And of course, within the housing system, predatory lending is just one piece of the larger picture. Among the other ways the housing system disappoints and preys upon poor, elderly, and minority residents are redlining (mortgage and insurance versions); evictions; discrimination by landlords, lenders, real estate agents, and other gatekeepers; excessive housing cost burdens; poor code enforcement; gentrification pressures; and so on. Those victimized by predatory lending are primarily persons who already own their homes, although a certain portion of this nefarious activity is foisted upon renters desiring home ownership. And in this regard, we need to question the (bipartisan) push to have everyone attain “the American dream”—a political, advertising, and cultural campaign that unfortunately causes grief for all too many households. While the nation’s home ownership rate has been rising, so has the foreclosure rate—primarily, of course, for low-income households.
youtube
The distinction between subprime and predatory lending can be fuzzy. The National Community Reinvestment Coalition (NCRC) recently offered the following definitions to help clarify the differences. NCRC defined subprime lending in the following terms: A subprime loan is a loan to a borrower with less than perfect credit. In order to compensate for the added risk associated with subprime loans, lending institutions charge higher interest rates. In contrast, a prime loan is a loan made to a credit- worthy borrower at prevailing interest rates. Loans are classified as A, A–, B, C, and D loans. “A” loans are prime loans that are made at the going rate while A– loans are loans made at slightly higher interest rates to borrowers with only a few blemishes on their credit report. So-called B, C, and D loans are made to borrow- ers with significant imperfections in their credit history. “D” loans carry the high- est interest rate because they are made to borrowers with the worst credit histories that include bankruptcy. Predatory loans are defined in the following terms: A predatory loan is an unsuitable loan designed to exploit vulnerable and unso- phisticated borrowers. Predatory loans are a subset of subprime loans. A predatory loan has one or more of the following features: 1) charges more in interest and fees than is required to cover the added risk of lending to borrowers with credit im- perfections, 2) contains abusive terms and conditions that trap borrowers and lead to increased indebtedness, 3) does not take into account the borrower’s ability to repay the loan, and 4) often violates fair lending laws by targeting women, minorities and communities of color.
youtube
A variety of predatory practices have been identified. They include the following: • Higher interest rates and fees than can be justified by the risk posed by the borrower. • Balloon payments requiring borrowers to pay off the entire balance of a loan by making a substantial payment after a period of time during which they have been making regular monthly payments. • Required single premium credit life insurance where the borrower must pay the entire annual premium at the beginning of the policy period rather than in monthly or quarterly payments; with this cost folded into the loan, the total cost, including interest payments, is higher throughout the life of the loan. • Forced placed home insurance, where the lender requires the borrower to pay for a policy selected by the lender. • High prepayment penalties, which trap borrowers in the loans. • Fees for services that may or may not actually be provided. • Loans based on the value of the property with no regard for the borrower’s ability to make payments. • Loan flipping, whereby lenders use deceptive and high-pressure tactics resulting in the frequent refinancing of loans with additional fees added each time. • Negatively amortized loans and loans for more than the value of the home, which result in the borrower owing more money at the end of the loan period than when they started making payments Subprime lending is not a new business. Lending to people with blemished credit histories has been around seemingly for as long as there have been creditors and debtors. Examples of the long-standing tradition of subprime lending in the United States run the gamut from pawnshops to the more positively regarded community development home loans. Subprime lending has, however, changed since the 1980s as the technological, macroeconomic, and legal frameworks in which these transactions take place have evolved, giving rise to increasingly sophisticated operations and substantial growth. Accompanying this growth has been the notable emergence of predatory home mortgage lending within the subprime credit sector. About 90 percent of foreclosure cases involve homeowners who were put into foreclosure without being given their options. The banks handle many loans and sometimes outsource collection efforts so that borrowers don’t get the case-by-case treatment that they should.
youtube
For their part, bank officials say they make extraordinary efforts to avoid taking a home. Most of the time, foreclosing is actually much less profitable than keeping the homeowner in the house. Homes in foreclosure normally sell at deeply discounted prices. But both sides can agree that many homeowners facing defaults on their loans don’t know what steps they can take to avoid foreclosure. That misdirection can lead to thousands of dollars in attorneys fees and foreclosure sales. The lack of knowledge of those services is something that officials at the U.S. Department of Housing and Urban Development admit is a problem. Loans insured by the Federal Housing Administration carry special safeguards to help buyers who fall behind on payments. Banks can sometimes temporarily suspend or reduce payments in the event of a hardship, and loans insured by the Federal Housing Administration are sometimes eligible for one-time payments from the government. But sometimes, lenders either don’t do an adequate job informing the owner of his options or the owner doesn’t take advantage of them before it’s too late. If you are one of the many people lurching toward foreclosure, there are a few things you can do before that final crash. Which options are right for you? Where can you go for good advice? Most important, whom can you trust when you’re wading through all the dot-com sites on the Internet that promise instant relief, easy credit repair and a quick resolution to all your problems? The U.S. Department of Housing and Urban Development (HUD) offers easy-to-understand on-line advice on how to avoid foreclosure. It’s available on the HUD Web site. The site provides links to HUD-approved housing counseling agencies that have information on free credit counseling and other services.
youtube
Still feeling overwhelmed? You may want to consult an experienced Sandy Utah foreclosure lawyer. It makes sense to work with someone who knows the rules. People may have their own ideas about what they want to do, but banks are not necessarily going to agree. They’re used to putting round pegs into round holes. Of course, it is best not to start down that slippery slope. Many foreclosures could have been prevented had the homeowner just recognized a few warning signs. These include missed mortgage payments, late notices and collection attempts. If you have missed only one payment, you have a number of options available to you. Miss several payments, and the options start to disappear. Anyone can find himself in unexpected financial circumstances and subject to foreclosure. Whether you’re in straitened circumstances because of business conditions, illness or a lifestyle that ultimately has worked against you, the fact is, you’ll have to formulate a goal about what to do. The most important thing is to set a goal about what you want to have happen. Then, it’s all about what you have to do to manage to keep that goal. That goal may or may not include keeping your house. If your monthly house payment, including property taxes and insurance, does not exceed 40 percent of your gross monthly income, you should consider selling or transferring the property to avoid negative impacts to your credit. For some people, that can be a relief. In fact, it may not be feasible economically to keep your house. If your house is worth more than you owe on it, selling it can allow you to pay off your mortgage, back payments and penalties. At the worst, you want zero equity. You never want negative equity. For most people, holding onto the house is crucial. The key to ensuring that will happen is to take a proactive approach to your debt. Just starting down that slippery slope? Only missed a few payments? The worst thing you can do is to do nothing. Communication is key. The most common but absolutely the worst response to mounting debt is simply to bury your head in the sand. Instead, you should talk directly with your lender. To a lender, foreclosure is the last resort, especially since the process is expensive, time-consuming and unprofitable. In a situation called “special forbearance, your lender will try to arrange a repayment plan that is tailored to your financial situation. In some instances, this can include a reduction or even a temporary suspension of your payments. A deferred payment program allows you to make up past-due amounts by adding them to your regular payments. Your lender also may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current.
youtube
You have to make sure that you will be able to make the new payments. People always make the mistake of thinking they will be able to do it, and then suddenly they have double trouble. Talking to a consumer credit counseling service can help you consolidate your bills and get budgeting advice. Be careful here, though. Some “counseling” services actually function as fronts for lawyers who want to steer you into bankruptcy proceedings. Others charge for services rendered. According to HUD, if you are paying for a consumer credit counseling service, you may be paying for a service you could do yourself or for free with the help of a HUD-approved housing counseling agency. Whether you are working on your own or with a counselor, it’s important to get a clear picture of your circumstances. That can be difficult, especially if you are one of those people whose head-in-the-sand approach has gotten you into this predicament in the first place. Make list of your expenses under six categories: • Essential expenses – food. • Very important expenses, such as first mortgage, rent, other mortgages, utilities and work-related transportation. • Important expenses, including clothes, taxes, other transportation and credit-card payments if credit is good. • Regular expenses, including daily expenses, the cost of household goods and credit-card payments if credit already has been affected. • Luxury expenses, such as entertainment, vacations and jewelry. • Wasteful expenses, including gambling, playing the lottery or falling for get-rich-quick scams. You have to be willing to take a real hard look at what got you into trouble in the first place. You may have to make some major changes in your lifestyle. After determining your financial situation, it’s time to consider your options. Mortgage modification allows you to refinance your debt or extend the term of your loan. After paying a lump sum to the bank, you then can re-amortize or extend the loan. Then there’s refinancing. Most people, should be able to refinance their homes with second mortgages. The problem comes if you haven’t come to terms with what got you into trouble in the first place. If you have an ongoing income problem, going from a $20,000 to a $30,000 mortgage isn’t going to help. You’ll default on that too. A short sale can be useful if you owe more money on your house than it is worth. Though it may not save your house, it saves your credit and allows you to rehabilitate your finances and credit history. Keep in mind, though, that the money waived by the lender is treated by the IRS as taxable income. Often seen as a last resort, a deed in lieu of foreclosure means that you stave off foreclosure by returning the house to the lender. The bank keeps the deed, and you move out, but you won’t have that black mark on your credit. If you do have to file bankruptcy, a Chapter 13 bankruptcy reorganization will stop a foreclosure. It’s a misconception with bankruptcy that you’ll automatically lose your house. That’s absolutely not the case. In the end, it all boils down to just three simple classes of things: the things you can do, the things the bank can do, and the things you both agree to do. The bottom line is, most banks would rather have their money than have your house. But the most important thing is to get in touch with an experienced Sandy Utah foreclosure lawyer.
Sandy Utah Foreclosure Lawyer Free Consultation
When you need legal help for a foreclosure in Sandy Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Can A DUI Charge Be Reduced?
How To Avoid Problems With Employment References
Divorce Attorney Near Me
Utah Custody
Which Bankruptcy Is Better For Your Credit?
Can You Get A DUI Without Being Pulled Over?
Source: https://www.ascentlawfirm.com/foreclosure-lawyer-sandy-utah/
0 notes
anamariebell-blog · 7 years ago
Text
Term Paper
Fetal alcohol syndrome affects women today worldwide. In this report I will show how the disease affects the innocent child on their growth,learning and how today’s resource help the child live a healthy successful life like children who are born normal.I plan to answer these following:How do you support children with fetal alcohol syndrome and help them overcome their disabilities without the child feeling disconnected from the world, their parents and peers?
During my 7 months working on my quest topic i have gained more knowledge based upon my topic. Something profound while researching I came across was according to” Moment to Moment:Growing up with Fetal Alcohol Spectrum” ,  was It was estimated that each year,2 to 5% of all babies are born in the United States have been affected by their mother’s drinking alcohol during pregnancy.”  This stood out to me because that means every 7 minutes a baby is born with FAS.  Another fascinating discovery i made while working on my quest project was according to the Justice System of FASD it's stated that;”while educating judges, lawyers and parole officers about the characteristics and behaviors of persons with FASD and establishing screening, analysis, and treatment procedures for those with FASD who enter the juvenile justice or adult criminal justice system  Establishing/utilizing alternative sentencing programs for persons with FASD who have committed nonviolent offenses  Offering referral information for the children of incarcerated women who may have been prenatally exposed to alcohol. This means out of 100% over 60% of people with FAS over 12 have been charged with a crime 55% of people with ARND will be confined to a prison, psychiatric institution, or drug/alcohol treatment center 95% of people with FAS. My topic relates to social justice because I am bringing education to the framework and bringing spotlight attention to a problem. This ties to social justice because I’m actively addressing the problems at hand and gradually planning on making change happen. My quest topic is a representation of social justice because I’m trying to change the dynamics of the isms,oppression and subordinated groups being targeted because they are not like you and me. Also while working on my quest project some fascinating facts I came upon was hearing adults who have lived with FAS normally. This people was named “Allen Taylor and Sasha Cook; they discovered they had FAS when they were about 2 months they were not developing as quickly as they should according to Centers for Disease and Prevention. They should out to me because they stated how their parents supported them and worked hard to make their children feel normal. Something a mother said was that  her child had “some of the behaviors Taylor has struggled with include difficulty maintaining attention, inability to plan and manage time, poor problem solving skills, inability to learn from consequences, social awkwardness, anxiety, and depression”. And for Sasha her mother stated that they worked with programing NOFAS , “We were like so many other families out there. We were looking for guidance and trying to find counselors, practitioners. Through NOFAS, I was able to have a voice and speak out. By talking with others who are just at the beginning of their FASD journey, we are also healing and helping ourselves – by reminding us that we are not alone”. These survivors not only had the support they needed but the help to improve functioning in society rather than forcing rehabilitation. Helping these folks with their needs and not make them a victim.
My quest projects relates to my three years in the Social Justice Academy because it’s given me the opportunity to grow and develop mentally and be become more open minded as well as conscious. My personal experience encouraged me to engage in activities related to my topic. My time in sja has taught me that there's never a downside to being different but it’s a gift to yourself and others as well. The time I’ve experience in SJA over the last 3 years has helped me grow mentally as to be more aware of my social aspects of life,more about my history and educated me about the hiccups the US has done for decades and continues to do . It’s taught me to know that I am something in life and have a purpose , I just have to have a career and not be a failure. I can be anything if i prepare myself for the war out there. Giving me the knowledge to succeed in life and life skills i would have for the rest of my life. It’s given me the potential in the future to see myself a fulltime college student or graduate with a career. It’s also taught me something I never use to do was dream and believing in myself. Before SJA i was a lost winded sole following blindly not having a plan in the future nor being aware of political,historical, detail of the United States. Being in SJA has helped me grow when it comes to digging up facts and evidence when writing papers such as this one, as well as thinking outside the box and connecting it to everyday life and making it bigger than it really is. My time in SJA has given me the motivation i never had and to believe in myself .  Also while in my time in SJA i was able to complete an action piece based upon FAS as well a gain experience in this field. My action was on May 11,2017. It was based upon me talking to lower division class-men such as freshman-juniors about the topic. I went to a health & safety class and educated them on the topic as well as connect with each individual student. I later had each student write in a notecard something they learned from what they've heard and most were astonished about the fact and personal insight i had on the topic. Something else i accomplished over this time period was my experience in the field i'm researching. My experience was based upon a Oakland City council meeting i attended May 17,2017 from 6:00-8:00. My experience was based on housing in the bay area for special needs housing and making it affordable for citizens in it’s area. It was connected to “California’s Housing Crisis” presented by “National Coalition of Black Womxn the League of Women Voters.  While in the meeting something one of the panelist said was “the oppressed must deliver themselves,whoever is less oppressed must  fight to save those who’s more oppressed.” To me this means if one if you can’t fight for yourself, why fight for others, one’s must put themselves first before making change to something else.
While doing my quest project a question came up and it was,”what is a moral and just world and the current state of the economy.” One would say a moral and just world is equivalent opportunities for everyone, but in reality it goes deeper than that. I would say a moral and just world is  a world where there's affordable housing everywhere and we won’t have to live off of minimum wage. The average american makes 45,000-70,000 if you're lucky. In a moral and just world people with disabilities would be able to find a home market rate price and not a skyrocket price. Gentrification would not be out of control and nor will homeless camps be set on fire, because they need money to live a balanced life. Someone else might say the current economy situation is corrupt and
the economy is booming with wealth while the 10% own 70% of the country and while the 90% fight for 30% of the country.  The people struggle with finding affordable housing and the struggle to maintain a healthy a credit score. The system is corrupt and exploits it’s consumers for profit. The current state of the world is “it's the faults of the citizens because we continue to buy product. The current state of the world is not as regulated as it should meaning the economy lives of citizens failure. One also might say the current state of the world is a world that targets minors while exploiting its customers to buy a certain product while advertising whether it’s on tv,media,billboards, etc. One also might say the current state bombards communities with food deserts to gain profit and idolize fast food as healthy and make a grocery store market rate high so it’s easier to get a burger instead of fruits and vegetables, because it's “affordable or cheap” but it also taste good. The fast food industry is booming and glorifying every moment of it while we continue to gain weight and become obese.
While working on my quest topic I have come across many political theorist regarding my topic. I came across two that stood out to me, one by the name of Gross Leonard and Bell Hooks. Something that he said regarding FAS was, “When the baby was born, the doctor could smell alcohol on it’s breath; 18 hours after delivery the infant began to exhibit classical withdrawal symptoms.”This stands out to me because during my research i have encountered many different sources regarding different sources of time levels. The other sources were wrong but  I always that symptoms show within 24 hours and it’s sad to say that parents have to watch their child go through intense testing. Another fact i got from this theorist i came across was something else regarding FAS was, “The most disquieting news of all is that while the fetal alcohol alcohol syndrome (FAS) was once associated exclusively with alcoholic mothers and their offspring, there are indications that even small amounts of alcohol imbibed by pregnant women-including those who aren’t aware they’re convinced could produce some damage.”This stands out to me still because even a small amount of alcohol can pose a risk to an unborn child.Another theorist that stood out to me was Bell Hooks. While doing my research i found a quote by Bell Hooks she said,”since loving is about knowing,we have more meaningful love relationships when we know each other and it takes time to know each other.”To me this means love is more powerful than anything,if one cannot love oneself how can you love a family.Something else fascinating ive learn about Bell Hooks if that she has own company regarding black imagery and art. She has her own book and is an activist in the social justice field. Also, while going through her book i came across an amazing quote which said, “ There is no life to be found in violence.Every act of violence brings us closer to death.Whether it’s the man made violence we do to our bodies or by overeating toxic or drink the extreme violence of child abuse,domestic violence,warfare,life-threatening poverty,addiction or state terrorism.” This quote is ties into my paper so much because it touches basis on everything i've touched on, from drinking to toxic waste to poverty. Bell Hooks better known as Gloria Jean Watkins, better known by her pen name bell hooks, is an American author, feminist, and social activist. This ties into a moral and just world because based upon evidence and sources i used can be accountable for my sources. A moral and just world is having feminist and activist who educate,liberate and acknowledge that we have a problem in society and that it needs to be a change over time. These two theories mirror my quest project because they idealize the fact that women should take pride in themselves and their children. A mother who is soon to be pregnant or pregnant should have awareness surrounding alcohol abuse and Fetal Alcohol Syndrome.
Just to tie in everything during my 3 years in SJA have been a memorable time and has shaped me into the person I am now. Throughout my quest projects I've learned more about FAS than  could ever discover. I digged up more information and facts based upon books,media resources, videos,websites. I was able to thrive and make a website. While during this quest paper i tied it into Social Justice and a moral and just world. To go back into that a moral unjust world is a world where average americans will no longer be at poverty level and will be able to support their families without managing two-three jobs. Another thing i touched on was trying to free oneself from mental enslavement rather than walk blindly and educate themselves about the top 1%.  Also, to be aware of parental warning signs of Fetal Alcohol Syndrome and if a mother is a borderline alcoholic; seek help immediately for the women and the parent. Something else i enjoyed while doing my quest research was taking all the information I’ve learned in the past 3 years and putting it to good use;such as using my voice and making a change in my community,and making a valid source and defending my stance. Something else I did was come out of my shell; sophomore year i was quiet and didn't really connect and make cold contacts. In order for me to find research and work on my experience was through cold contact such as emails,phone calls,meeting at various locations. It’s made me not afraid to risk meeting new people and also educating people of my social justice knowledge. This whole 3 years was an amazing experience and i'm glad to say i was apart of it.
1.CDC,Fetal Alcohol Spectrum Disorders (FASD)Allen, Taylor, and Sasha Cook. "My Story." Centers for Disease Control and Prevention. Centers for Disease Control and Prevention, 29 Sept. 2016. Web. 25 Apr. 2017.
2.childwelfare.gov/pubPDFs/drugexposed.pdf
3.Diane. Interview by Anna Bell. 23 Apr. 2017: n. pag. Print.
4.kidshealth.org
Fetal Alcohol Syndrome
5.Moment to Moment:Growing up with Fetal Alcohol Spectrum. Http://www.ntiupstream.com, 2013. NTI Upstream, 3 June 2013. Web. 12 Apr. 2017. <https://www.youtube.com/watch?v=kfyYUq1yjTk>.
6.ncbi.nlm.nih.gov
Alcohol Abuse in Pregnant Women: Effects on the Fetus and Newborn, Mode of Action and Maternal Treatment
7.nofas.org
National Organization on Fetal Alcohol Syndrome – Expectant Mothers
8.Guarino, Justin. "Working with Special Needs Kids." Personal interview. 10 Apr. 2017.
9.1-5. Gross, Leonard. "7. The Case for Caution II , Birth Defects and Synergistics`." How Much Is Too Much?:
10.6-10.  The Effects of Social Drinking. New York: Ballantine, 1985. 90-127. Print.
Berger, Gilda. What Is Fetal Alcohol Syndrome. Alcoholism and the Family. Washington DC: Gilda Berger, 1991. 37-60. Print.
11.National Organization of Fetal Alcohol Syndrome"Mission." Eton Court, 2007. Web. 22 Apr.
2017.
12."Moving Beyond Pain." Bell Hooks Institute. N.p., 09 May 2016. Web. 26 May 2017.
0 notes
ditvappens-blog · 8 years ago
Photo
Tumblr media Tumblr media Tumblr media
I was troubled the other day by something that a friend brought to my attention. A picture of a very symmetrical and very pretty white girl posing with a series of dildos in different fleshy hues. The caption, “Is your feminism intersectional tho?” It carried the tone of self-important mockery. Was this woman checking herself? Was she championing herself as the ideal intersectional white feminist? Why? Because of dildos? Because she has a few brown ones? A disembodied sexual organ that has been associated with decades of fear, violence, and dehumanization? Have black and brown bodies not been exploited enough? Just look at the history of gynecology . Just look at what happened in Rosewood. This was her grand intersectional triumph? I don’t know if it is even my right to speak, but I am at a loss for words.
I have trouble decoding how I feel and how I am allowed to feel, further complicated by insecurity and a trepidatious identity. I don’t usually voice my concerns or angers because I doubt their legitimacy. I doubt my sanity and the veracity of my own observations. That is what ultimately happens when living in a world of systemically coded racism, your very sensibilities as a human get gaslighted. You have to start asking for permission and comparing your reality against someone elses to make sure you’re not crazy, you’re not “uppity”, when you see something and feel, “This isn’t right. This is exploitation. This is racist. This is at least problematic”. Its even harder at the crossroads between not wanting to invite drama, and not wanting to excuse actions that can be dangerous. Given the social and political climate, how can you be so irresponsible? Its hard having enough confidence in yourself to say that. I noticed a few people commenting on the picture though, some providing very touching and insightful critique of white feminism, others not amounting to much more than “this is dumb”. The curious thing though, those comments started disappearing. Those comments were also almost all made by POC. I started checking back every few days out of curiosity, and sure enough, another person would say that this image was confusing and offensive. Then their comment would disappear. Maybe I don’t have confidence in my feelings, but I can have confidence in that fact that I can identify censorship when I see it.
I looked into the business she proudly touts. Based out of Detroit, a historically black city, I wonder if cheap real estate was the real reason why this entrepreneur ended up here. Along a coveted stretch of gentrification, nonetheless. Her store was overwhelmingly white though. Do with that as you will. Strategically cursory visibility of POC is nothing new in New Detroit. Its a landscape that white flight has refluxed back into like bile. This comes days after Women’s Day , and days after the clothing store Dolls Kill came under fire for a racist hoodie and responded with derision and silence. I’m left to think a lot about where responsibilities lie and what agendas celebrity propogates. What do I feel? What does my intuition tell me about the world I am in? What am I comfortable ignoring and permitting to flourish? What responsibility do I have? If I say nothing then I am doing what I grew up doing, colluding with an agenda that oppresses my people. My family. My loved ones. I’m also left to realize that some allies never really cared to begin with. Did you care, or was it en vogue? Did you care or did you just not want people to think you were “one of those white people”? Did you care or did you just want to rebrand yourself to sell more dildos? Do you think that you, as a privileged woman, can use people but not dignify them to listen? Do you think you are really being intersectional because you will stick a brown phallus inside of yourself, but completely suppress and negate actual black and brown thought? Just because maybe in the last few months you became aware of your whiteness and started learning some new jargon and following more POC on twitter don’t mean you have impunity. Are you an ally or are you covertly supporting the supremacy? You can’t be both, so I’ll give you a hint: you’re a traitor.
Do you understand what intersectionality actually means Zoe Ligon? What privilege actually means? How lucky you are to be able to worry about whether or not squirt is pee while people are dying across this country? Do you understand the history of your own movement, of this country, and what is still very real and very much happening here? Do you understand the gravity of how lucky you are? Do you even understand who you are? While you sit and prune your serfdom of social media, plucking out problem hairs of dissent because they blemish the vanity of the Dildo Duchess. Because you only care about your vanity and the white lives you mirror. Intersectional? Feminist? Sex positive? All I see is another irresponsible tone deaf white person capitalizing on marginalized suffering. If you’re in the public sphere and trying to present yourself as some sort of educator and feminist, if you’re going to use words created by black and brown people, you better use that wisely. At least be honest if all you care about is making money. At least admit that this is all a show so people will buy your over-priced luxury sex toys. At the very least don’t call yourself intersectional and then actually censor black people just because they didn’t praise you. Actually be an ally for once or leave. You are not essential, you are not immune to criticism, you are no one’s savior, you are not to be fully trusted, and this is exactly why.
0 notes