Avid Law Center

December 20, 2011 12:00 ET

Avid Law Center Saves Homeowners From Foreclosure With Successful Negotiation of Loan Modification Through Chase

Orange County-Based Real Estate Law Firm Assists Small Business Owners in Fight to Keep Their Home

ALISO VIEJO, CA--(Marketwire - Dec 20, 2011) - Avid Law Center, an Orange County, California-based real estate and litigation law firm, today announced a successful negotiation of a favorable loan modification for their clients, Matthew and Michelle Stewart, saving their Bakersfield, Calif. home from a scheduled foreclosure.

The negotiated terms, through Chase, included an interest rate reduction to a fixed 5% rate, and a new lower, more affordable mortgage payment, of $1807.87 per month. The lifetime savings over the life of the loan is expected to exceed nearly $300,000.

"The banks don't make it easy but it's worth the fight to keep your home. We did everything the bank asked for over two years but realized we needed help from someone who knows the business to get our modification approved," said homeowner Matthew Stewart. "Avid Law Center was the middleman we needed to sort out this mess and put pressure on Chase the way we never could on our own."

Matthew Stewart felt the harsh effects of the down economy as a small business owner and found himself unable to keep up with his mortgage. He tried for two years to obtain a loan modification on his own and after diligently doing everything that was asked, Chase denied his application, claiming they did not receive the necessary documents. Furthermore, the lender stated they would not consider any loan modification options claiming the Stewarts broke an offer already given to them. The Stewarts had documented proof that both claims were false.

Upon retaining Avid Law Center in March 2011, the Stewarts were 12 months behind on their mortgage and their home had been scheduled for sale in April. Avid immediately escalated the case to the Office of the President of Chase and was able to successfully postpone the sale date while the case was in review. After months of persistence and assertive action, a reasonable resolution was negotiated with the bank and possible protracted litigation was avoided.

"Too many homeowners try unsuccessfully to obtain a loan modification on their own. The reality is, they don't have the experience to know what the next steps are if they are denied, and too often they give up and let the bank take their home," said Aron Rofer, President, CEO and Managing Attorney for Avid Law Center. "Their home is worth fighting for and we're proud to fight for our clients to make sure they get the solution they need to keep their home."

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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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