Avid Law Center

December 14, 2011 12:49 ET

Avid Law Center Saves Homeowner Over $450,000 in Mortgage Payments Through Successful Loan Modification

Orange County-Based Real Estate Litigation Law Firm Obtains Another Positive Case Result for Homeowner Seeking to Avoid Foreclosure

ALISO VIEJO, CA--(Marketwire - Dec 14, 2011) - Avid Law Center, an Orange County, California-based real estate and litigation law firm, continues to successfully negotiate favorable loan modifications for their clients.

In their latest success, a restructured loan was obtained for their homeowner client, Franky Valles, of Modesto, Calif. The negotiated terms, through his servicer Ocwen, included an interest rate reduction to a fixed 3.05% rate, and a new lower, more affordable mortgage payment of only $645.95 per month. The lifetime savings over the life of the loan is expected to exceed over $458,000.00.

"I tried working with other companies to get a modification on my mortgage to no success. After working with Avid for only five months, I was surprised that not only was my modification approved, but my new monthly payment was going to be less than a third of what I was paying," said Valles. "Before, my financial priority was trying to find a way to pay my mortgage and everything else came second, even figuring out what I can pay for at the grocery store. Now, I feel like I got my life back again."

After losing his job, Valles struggled to make his mortgage payments. He sought modification assistance from what he thought were other reputable companies. After paying high fees for several months to another service, he learned that company had gone out of business. Valles was forced to use his retirement savings to pay his mortgage as he still had no steady income. As bills began mounting, he became more fearful of falling behind and losing his home to foreclosure, which lead him to again seek assistance in obtaining a modification on his mortgage.

Upon receiving the case, Avid moved quickly to compile a loan restructuring package. They helped him complete the required financial applications, hardship letter, and compile the supporting documents for the bank to review. Avid then sent the package, along with a legal demand, to his servicer, Ocwen, to try resolving the hardship and loan issues. After receiving the demand package, a reasonable resolution was negotiated with the bank and possible protracted litigation was avoided.

"For a homeowner, often the only thing more stressful and frustrating than the modification process itself is trying to find the right people to assist them. It's important to find a reputable company to help you get the customer service you deserve," said Aron Rofer, President, CEO and Managing Attorney for Avid Law Center. "We take pride in ensuring each of our clients receives careful and personalized attention for their unique situation. We are grateful for the opportunity to help such deserving clients through our hard work."

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About Avid Law
Center Based in Orange County, California, Avid Law Center is a full service Real Estate Litigation Law Firm representing consumers throughout the state. With over 30 years of legal experience, as well as significant experience in business and finance, Avid Law Center challenges banks on behalf of their clients to stop foreclosure and reduce clients' mortgage payments to an affordable amount.

The information in this release is for general information purposes only. Nothing in this release or on the Avid Law Center website or blog should be taken as legal advice. Prior successes are no guarantee of future performance. Litigation is inherently uncertain and results in litigation are never guaranteed.

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