With foreclosures still dominating taking the help of attorneys to buy a house would be prudent
Article by Jessica Alberton
With foreclosures still dominating taking the help of attorneys to buy a house would be prudent. Generally people planning to buy a house take the help of realtors as also loan officers – but very rarely do they engage a lawyer. Attorney Diane Cipollone is endeavoring to change that line of thinking.Cipollone is with Civil Justice Inc. – a non-profit legal firm located in Baltimore. She has assisted innumerable house owners facing foreclosure. She believes that many foreclosures could have avoided it by engaging a lawyer prior to purchasing the home or refinancing their loans. None made them conversant with the financial risks involved nor alerted them about the traps laid out in fine print. When they did awake to the fact – the damage had already been done.
Today she is in charge of a new project – Maryland Mortgage Fraud Prevention Project that connects the buyers of residential units or those seeking refinancing with legal help that is free. This is done prior to inking contracts and not afterwards. The programme is for those who have not so far owned a house in Maryland for the last three years and are planning to purchase one for below 5,000. Those who are seeking refinancing can also avail of this programme for the above mentioned amount and less than that.She was asked by the Baltimore Sun if legal help was really necessary when the mortgage is a prime one with fixed interest rate. Her answer was emphatically in the affirmative. She thinks as with sub-prime loans here too legal advice is essential. Otherwise how will the purchaser know whether the terms are actually reasonable? If any change took place without the help of a lawyer they would not be able to know their rights. Some of the old strategies that kicked off the crisis are still in vogue.
She further informed that over 100 lawyers have received training under her organization who would be able to detect fraud. Their team will be able to assist 200 or even 250 homeowners in the current year.
The wider goal of the organization is to alter the manner in which people think when it comes to buying houses or refinancing. If the people had taken legal help then the foreclosure crisis would not have taken on such astronomical proportions. It is to the best interests of the purchasers and for those refinancing to get legal help.
About the Author
Jessica Alberton, has been working on ForeclosureRepos.com studying the foreclosures market, helping buyers on the finer points of “>foreclosures in broward county.
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My Dad needs his house refinanced and is looking for the best deal, can anybody help?
Answer by jwademortgage
You should make sure you have a great rapore with the person you speak with…..
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