Do You Know Anyone in Foreclosure and Wants to Save Their Home?

Question

I know...you are an investor and you want to make BIG money through shortsales. However, there is a good chance that MOST of the people in pre-foreclosure you encounter wants to save and keep their homes.

Why NOT make money with them also in addition to those people who are willing to do shortsales? How?

You can make recurring income by referring people to us in preforeclosure. We are a law firm specializing in foreclosure legal defense. Check us out at:

http://foreclosurelegaldefense.com and
http://foreclosurewalkaway.com

Dion DePaoli · Answer

How is it you are a law firm and you pay a referral fee to a non-lawyer?????

The ABA, which most states follow their rules says in Rule 5.4 (a) states that “a lawyer or law firm shall not share legal fees with a non-lawyer.” Rule 7.2 (b) states that “a lawyer shall not give anything of value to a person for recommending the lawyer’s services.”

Also, this program you have described on "Foreclosure Walk Away" seems a bit misleading.  You are not trying to help the borrower stay in the home, you are hoping the borrower wants to walk away and then you have an attorney attempt to respond to the foreclosure complaint and muddy the waters in an attempt to get some form of short sale approval.  Then you buy the home for that short sale price and the homeowner gets a mere 20% from you.

That seems to be outside of the best interest of any borrower seeking legal advice or help and frankly sounds more like self-dealing.

Am I missing something or is this a scam someone thought up and by somehow using an attorney attempts to bring some form of authenticity to it, which seems to have just failed here on BP.

Wendell De Guzman · Answer

Thank you guys for your opinions.

Our set up is correct and legal. To generalize that all law firms can't save people's homes through foreclosure defense strategies is not fair. We have helped a lot of homeowners save & keep their homes from foreclosure.  As far as I'm concerned, we have happy clients over the 5 years plus we are doing this.

It's apparent you have your own niche that works for you...and we have our own niche that works for us. Thank you.

Wayne Brooks · Answer

Dion DePaoli Yes, I'll agree you're crazy as you are constantly trying to confuse the issues with industry practices, fundamentals, and facts. :)
Wendell De Guzman I didn't bother reading your links as generally attorneys "can't save your house".  Yeh, I know, they all these legal sounding theories and catch phrases that sound plausible to the uninitiated..  You only save your house by catching up arrears, or through a loan mod.  I do short sales, and never seen a "foreclosure defense" attorney do, or compel, a short sale any better than I can.  Most just soak up the monthly fee for as long as possible.  I know they claim they can bully a lender into a deficiency waiver that wouldn't otherwise be available.  But please, save that for the suckers you're marketing to, not me.

Dion DePaoli · Answer

Wendell De Guzman, no offense, but that rock ain't gonna float in my water, sorry to say.

The billboard analogy is great, except you are offering to pay the drivers who pass by the sign a fee for sending you the person who needs legal help which is not the drive who read the sign.

Second, a lawyer paying a marketing fee to a company who owns a billboard has no relationship to the amount of clients that come from seeing the billboard, that would link it to compensation for referrals.  Not really the way a billboard company works.  You purchase billboard space for a fee and the fee for that billboard has no affinity to the amount of business you get, you don't pay the billboard company per client for the sign they made for you.  You can call a dog a cat, but that doesn't make it so.

Third, you keep mentioning "your firm", but YOU do not seem to be an attorney, unless I missed something.  So how is it "Your Firm" provides any type of legal defense for anything?  The one site has one noted attorney, Deborah M Martinez, which does not appear to be your name.  Perhaps you use a pen name on BP?

Additionally, how does going to court have any great bearing on short sale approval or deficiency judgments on NOO properties.  That seems to be a stretch.  In Illinois court, a judicial foreclosure state, all alternatives to foreclosure need to be exhausted and shown to be exhausted to the court by the plaintiff.  This would include Short Sale. So is it really the magical work that is done or is it simply state statute?  In addition, courts rarely cross the line of telling and forcing a company where and when to take a loss, that's not very capitalistic.  So in that regard, a short sale is done when it makes financial sense to the mortgage and in the case of IL, the court only makes sure the alternative was explored not executed.

Wendell, I am sure your a nice guy and perhaps you believe what you have here is good and proper.  In that regard, I think you might be a little too rosey about this business model.  In the 16 posts you have here on BP, this is the first one that address this concept, so I am going on a limb saying this is new for you.  Fine, now that we understand that, I suggest you walk away from this and go back to REI and Wholesaling.  I guess some other folks can chime in and tell me I am crazy.

Wendell De Guzman · Answer

Dion DePaoli, this is NOT fee-splitting. The client has a direct retainer agreement with the attorney. We BILL the attorney our administration, client support and marketing fee. It's the same thing when an attorney pays for the use of a billboard. The client pays the attorney when he finds the attorney through the billboard. The attorney pays the billboard owner. No fee splitting. Think of us and our affiliates as the billboard owner.

Also, you did not check out our 2 services. You jumped to the conclusion it's a scam without doing your research. Our foreclosure legal defense service is for people who want to save and keep their homes. You should have seen the details if you checked http://foreclosurelegaldefense.com.

Our foreclosure walk away service is for people who wants to do a shortsale on their home and they want to fight the court at the same time in order to avoid the deficiency judgment (banks are not willing to forgive the deficiency judgment on rental properties for example). We can do a straight shortsale if they want to. The details of this program are what you've checked at http://foreclosurewalkaway.com.

By the way, in our foreclosure walk away program, we pay for the litigation costs not the client. There is no "self-dealing" here also because we do not take title to the property. The borrower still owns the property like in a traditional shortsale. It's just that by going to court, our shortsale acceptance is much higher vs. traditional shortsale.

Everything that we do is disclosed to the client with extensive documentation and everything that we do comply with the Mortgage Assistance & Relief Act as well as the Foreclosure Advisory law. Our company has been doing business since 2007 when foreclosure defense was not well known. 300 clients and 6 years later, we're still here precisely because we follow the laws and our business is NOT a scam.

Call me in our office at 630-968-2120 or call me on my cellphone. You can even visit our office also (these are disclosed in our websites).

J Scott · Answer

I came here to say the same thing...

Do You Know Anyone in Foreclosure and Wants to Save Their Home?

Most Popular Reply