I was Skeptical about hiring CDA because I work for the California DOJ (AG), please read:
I am very satisfied with my decision to hire the CDA Law Center to help me obtain a favorable loan modification with Chase. I am particularly grateful to Paul Young and Suzie Bryant who assisted me and worked very, very hard on my case. Like many people, my husband and I refinanced our house in 2005 when the market was booming. We agreed to a predatory loan (NegAm/Option ARM) because the interest rate was low and we thought we could easily refinance into a better loan a few years down the road. Then the housing market crashed and so did my marriage, meaning I was suddenly a single parent, the house was underwater, and I had only one income (mine) to support the mortgage payment. I was very stressed out and had many, many sleepless nights. My eighty-year old mother was so worried about me and my children, she tapped into some of her limited retirement savings to help me with the mortgage payments until I could find a more permanent solution. (Thanks Mom, SO GRATEFUL!) That’s when I turned to the CDA Law Center. At first, I was very nervous and skeptical about hiring them because I work for the California DOJ and was aware of the DOJ’s efforts to eliminate consumer fraud perpetrated by disreputable attorneys and other scam credit-counseling businesses. The CDA Law Center put all of my fears to rest. Paul and Suzie were amazing and unbelievably responsive to my questions and concerns. They quickly helped me to modify my mortgage so I could afford it based on my single-person salary. They negotiated with Chase to give me a 2% fixed interest rate, which lowered my principal, interest,taxes, and insurance by $1,146.53/month. With this monthly savings, I will be able to keep my house. Because of Paul, Suzie, and the CDA Law Center, I can sleep at night, and my children can continue to live in the only house they have ever known and attend our neighborhood schools with their friends. (Thanks Paul, Suzie, and the CDA Law Center, SO GRATEFUL!)
What we do for you!
- Notify lender you are represented by Counsel
- Complete a financial analysis of your situation
- Prepare a case to present to your lender
- Help you create an effective hardship letter
- Prepare a REST Report to determine your NPV
- Present your package to your lender
- Negotiate a new lower payment or new terms
- Provide a modification agreement
"CDA Law Center is recommended by National Homeowner Advocate Richard Zombeck of the Home Preservation Network and Huffington Post"
CDA Law Center (CDALC) is recognized by numerous non-profit Homeowner Advocates as a “Top Trusted Firm” for helping consumers through their loan modification process. They include Martin Andelman of Mandelman Matters, and Richard Zombeck of the Huffington Post and Home Preservation Network, to name a few. With over four years of experience and over 3,000 successful modifications negotiated, you can be confident our experienced attorneys and staff will work diligently on your case until resolution. Our commitment is to provide you with honest and ethical advice, and to help you make an informed decision regarding your loan modification needs, as loan modifications are not the best remedy for everyone. Our ethical standards prohibit us from accepting clients unless they have a demonstrable financial hardship, have capacity to make a modified payment, and we believe you may meet the Net Present Value (NPV) criteria required for a loan modification.
At CDALC, we understand how the uncertainty of the loan modification process can be stressful, as the outcome of any negotiation is uncertain. Anyone, including attorneys, who tell you otherwise or guarantees specific results should be scrutinized carefully. We pride ourselves on our tremendous knowledge and our ability to guide our clients through the process, we perform each and every service we contract with you to perform, under the supervision and direction of our attorneys. To help us determine whether you potentially qualify for modification, we first gather your detailed financial information and conduct a free, no obligation financial analysis and initial consultation. Based on this preliminary information, we determine whether it is likely you will qualify for a loan modification from a financial perspective and relay to you what your modification terms may look like upon lender/servicer approval. We base our decision from our extensive experience in working with the various government and non-government programs offered by the various Lenders and Servicers. If we believe you do not have a case for modification, we will tell you why. We can help with loans owned by both private investors and the GSE’s (Fannie Mae and Freddie Mac), and primary residences, investment properties, and commercial real estate.
Despite the availability of government programs such as Making Home Affordable (HAMP), your lender/servicer believes that a loan modification is a "hardship program", not a "right". As such, we are seeking voluntary concessions from your lender/servicer. The decision to provide you financial relief rests solely in the hands of your lender/servicer, and is often predicated on the outcome of a Net Present Value (NPV) analysis. To learn more about qualifying for a loan modification using Net Present Value, feel free to call or view the “REST Report” page on the top nav-bar. Properly preparing your lender package so it fits within lender modification guidelines is a critical component for success during the modification process. CDALC provides the experience and expertise to navigate this process to significantly improve your chances for success.
During his 33 years as a California licensed attorney, Mr. Robert G. Scurrah has negotiated and resolved disputes on behalf of consumers and businesses alike. Mr. Scurrah, along with our other fine attorneys at CDALC, personally perform work on every loan modification case and prepare most every document we submit to your lender. Our attorneys are happy to meet or speak with you at any time either before or during your case at our San Clemente offices. Please contact CDALC to schedule an appointment and/or free consultation.
We do not offer “Forensic Predatory Loan audits", "Securitization Audits", or other products that have no value. Please be wary of anyone offering you these, specifically if not from a law firm. These audits are part of a fraud warning issued by California’s Attorney’s General, and you should beware of false claims, and at least in California, Judges have not been receptive to these lawsuits without significant extenuating circumstances. Most lawsuits are lengthy, costly, and ultimately result in a loan modification. The statute of limitations on Predatory Lending cases expire three (3) years after the loan was originated, except in rare circumstances. However, opportunities may exist to litigate and challenge the bank regarding abuses in the loan modification process.
CDALC offers the official R.E.S.T. Report. The R.E.S.T. Report is run on an enterprise level banking software platform developed, for lenders and servicers to determine the Net Present Value (NPV) of your loan using the latest HAMP NPV analytics, a critical component in achieving a loan modification. NPV determines whether your lender makes more money modifying your loan, or foreclosing on your home, and the Pooling and Servicing Agreement (PSA) between your investor and servicer typically requires them to modify the loan if it is in the best financial interest of your investor. CDALC is one of only a handful of firms in the country who have access to this lender and servicer software platform. There are also numerous internal modification programs which vary by lender if you do not qualify for HAMP. See the tab on this page for more information on the R.E.S.T. Report.
CDALC’s experience and understanding guides us through the lender barriers to success. Moreover, you are being represented by attorneys who are bound by a high level of ethics and professional responsibility to our clients. As such, CDALC is obligated to inform you that you can communicate directly with your lender/servicer to obtain a loan modification. Please understand that almost all of our clients have tried and failed on their own to negotiate acceptable loan modification terms with their lender/servicer. In our experience, a majority of these clients failed because they do not have the underwriting or legal background to adequately analyze and negotiate their case. Despite these previous failures by our clients, CDALC is usually able to achieve a modification once we rework the case. We have worked with all of the major lenders and servicers and understand how to navigate the often complex and frustrating path to a modification. No two cases are the same. As such, CDALC cannot guarantee a specific outcome for any case. Obtaining a concession from a lender/servicer/investor requires an experienced eye and an understanding of the qualifying conditions of every program. Our attorneys and legal staff will work directly with the Legal Department, Executive Resolution, 3rd party Attorneys, or the Loss Mitigation Departments of your lender/servicer as required.
Act with confidence because you are dealing with highly recommended and reputable attorneys who are ethically bound to fight for your rights and who will protect your best interests. We may be able to help you prevent foreclosure, prevent Bankruptcy, stop your rate from adjusting, and lower your payments. Be sure to review our client testimonials and hear from people who took a leap of faith and gave us a chance! CDALC is compliant with every State and Federal Law, including CA SB-94 and its related Civil Codes, as well as the FTC Final Rule regarding MARS service providers. We welcome all inquiries regarding our legal compliance.