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Update the Foreclosure Fairness Act Now - Bad Faith Mediations Need Real Remedies

Lambros Politis - Wednesday, November 19, 2014

If you are one of the many Washington homeowners faced with losing your home to foreclosure, you may already be familiar with the Foreclosure Fairness Act. ..

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What to Do if You Received a Foreclosure Notice in Washington State

Lambros Politis - Thursday, November 06, 2014

Have you stopped making your mortgage payments? If so, you may have received a Notice of Default, Notice of Pre-foreclosure Options or a Notice of Trustee Sale from the State of Washington. ..

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PNC's Misguided Loss Mitigation Program

Nadia Kourehdar - Friday, October 31, 2014

Lenders deny debt settlement requests for a variety of reasons. Some denials are final, but most denials occur because of a procedural issue - mistakes in the lender’s system, an incomplete document submission etc. Typically, when these denials occur, lenders push the file back to beginning stages to re-review when complete. These denials rarely ever bar the homeowner from trying again, as investor guidelines require that lenders behave in good faith toward homeowners facing foreclosure. ..

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Companies We've Worked With

Our foreclosure prevention service is free to you.

Our full-service negotiation service is offered for free to homeowners. We are paid by the lender and/or the buyer.

We guarantee full settlement of your debt.

We are able to get a full settlement over 98% of the time. If the lender doesn't give a full settlement, we continue working with you, post-closing, until you have full and final satisfaction.

And, you get your short sale approved in the fastest time possible.

Every element of our short sale process is designed for speed and efficiency. We know that this is a difficult, challenging time, and we want to help you get through it as fast as possible.

Nadia Kourehdar & Lambros Politis

Lead Associate Attorney & Lead Counsel

Frequently Asked Questions
Can I get paid to do a short sale?
Yes! The HAFA and FHA programs both pay up to $3,000 to the seller. They call it a "borrower relocation incentive." We've seen Chase pay up to $35,000 to borrowers with old WAMU loans. Bank of America has a co-op program that often pays out $7,000 in addition to the HAFA $3,000.
How does Ark Law Group get paid?
Our full-service short sale negotiation service is offered for free to homeowners. We are paid by the lender and/or the buyer.
How long does a short sale take?
The length of the time depends on who your lender is, the kind of loan you have, and who is negotiating your short sale. The time range is typically between 3-6 months.
Do I need a hardship to do a short sale?
The rules around hardship vary by lender and loan type. In many cases, simply defaulting on your loan is enough to get the lender to agree to a short sale. For example, if you have an FHA loan, are 90 days delinquent, and have a credit score below 620, you are automatically qualified for a short sale.
Why would the lender agree to take a loss?
If the lender is forced to foreclose on your house, they are then responsible for selling it. They already know they are going to lose money if that occurs. They would rather have you sell it now, as it will provide them more money than if they had to sell it themselves, and they will get the money sooner.
Will there be taxes on the forgiven debt?
Typically not. See our insolvency calculator.