ABC 7 recently reported on a homeowner who did everything she could to keep her home.
Like so many Californians, after losing her job, Monica Kenney did everything she could to keep her home, even applying for a loan modification. She thought she got good news last summer.
“Essentially, I received a forbearance agreement on one day, the 27th of June. And the following day, the home was foreclosed on,” said Kenney.
Kenney was a victim of “dual tracking,” where banks go through a loan modification with you but at the same time continue the foreclosure process in case the modification doesn’t work out.
A Homeowner Bill of Rights is before the California State Legislature, and the series of bills would restrict practices such as foreclosing on homeowners as they try to negotiate a loan modification and mandate that banks designate a single person to work with troubled borrowers.
Many homeowners are foreclosed on during the process of trying to get a loan modification, especially since the process is long and difficult for individuals. De Novo Law Firm can help clients who face the same struggle to stay in their homes with loan modification or foreclosure litigation.