The nonprofit Alliance of Consumer Advocates helps another foreclosed homeowner with a third-party trustee sale reversal

Go from losing all equity to being able to resell for a profit.

COSTA MESA, CALIFORNIA, USA, Aug. 16, 2022 /EINPresswire.com/ — Ms. J. Denson of Los Angeles, California was on a very unsustainable mortgage that was only magnified by the recent pandemic. She was unable to get her lender to help her voluntarily modify her loan. It also prevented her from getting a sustainable monthly payment as she was denied refinancing due to her default status on her mortgage.

After some successful delays and postponements of her trustee sale, her private lender proceeded and finalized the trustee sale auction to a third-party buyer for a fraction of the $479,262.45 owed to them, leaving Ms. Denson not only with a completed foreclosure. on her credit and public profile, but she also suddenly lost 100% of all the equity she had accumulated since acquiring the investment property in 2011. Like a bad investment in a bad title to a bad moment, his years of earned equity have evaporated. in an action that took place on the steps of the Pomona Courthouse on 7/12/2021 at 11:00 a.m. when the auctioneers gavel slammed SOLD TO HIGHEST BIDDER.

Luckily for Ms. Denson, she contacted the Nonprofit Alliance of Consumer Advocates, a federally registered 501 C3 nonprofit legal clinic focused on property preservation and affordable housing, who not only immediately assessed her entire situation , but also with the collaboration of the Nonprofit Alliance of Consumer Advocates Senior Director of Legal Services, Lawyer Fernando Leone; who is an experienced real estate attorney licensed by the State Bar for 27 years.

Between attorney Fernando Leone and a few of the nonprofit clinic’s experienced alliances, they quickly devised a strategic plan to attempt a reversal of the trustee sale in hopes of retaining and maintaining ownership of the property. investment within the family. Instead, if the trustee’s reversal of the sale was successful but did not result in a longer lasting monthly payment, then at least the foreclosure could be removed from her profile, then she could sell the property herself and, hopefully turn a bonus profit.

Without any guarantee of results, Attorney Fernando Leone and his volunteer staff, with the assistance of Consumer Defense Law Group, an experienced foreclosure defense and wrongful foreclosure law firm, led by CEO and attorney General Anthony Cara, and his legal assistant quickly filed legal documents and actions. in state court.

On 01/06/2022 the trustee’s cancellation was confirmed to be official and the property reverted to Mrs Denson’s name. Unfortunately, although the trustee’s sale was cancelled, the mortgage payment was still unsustainable. Yet she not only avoided a completed foreclosure, but, as a bonus, she pocketed equity that was previously lost. On 03/14/2022 she completed a sale to buyer transaction on this same listed property for $640,000.00

MJ De La Vega
Nonprofit Alliance of Consumer Advocates
+1 855-622-2435
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