Prepared by John F. Gianola Managing Attorney [email_address] Iowa Legal Aid Foreclosure Defense Project
Mortgage crisis:  What went wrong? <ul><li>“ The difference between a good loan and a bad loan is that in a good loan the ...
What is  Iowa Mortgage Help? <ul><li>Iowa Mortgage Help (IMH) is a consortium of agencies working to address the foreclosu...
What is the  Foreclosure Defense Project? <ul><li>Specialized project at Iowa Legal Aid to assist homeowners facing forecl...
Goals of  Foreclosure Defense Project in Litigation <ul><li>Work in partnership with Iowa Mortgage Help counselors to leve...
What Does Iowa Legal Aid  Do for Clients Facing Foreclosure of Their Home? <ul><li>Informs them of their legal rights and ...
Typical Case Scenarios <ul><li>Foreclosure improperly filed by mortgage servicer which does not have possession of the not...
What is the Impact of  Iowa Legal Aid’s  Work on Clients? <ul><li>Preventing homelessness </li></ul><ul><li>Saving low-inc...
What Does Iowa Legal Aid’s Assistance in Foreclosure Cases Do For Communities? <ul><li>Preventing foreclosures assists in ...
What Do Clients Say About Iowa Legal Aid’s Foreclosure Services?  <ul><li>First I would like to thank you for your time, c...
What Do Clients Say About Iowa Legal Aid’s Foreclosure Services?  <ul><li>Took a big burden off my shoulders, and eliminat...
What Do Iowa Legal Aid’s Partners Say about Iowa Legal Aid’s Services?  <ul><li>We sincerely appreciate the effort and exp...
Questions? <ul><li>For further information contact: </li></ul><ul><ul><li>John Gianola [email_address] 319-338-3369, Ext. ...
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Foreclosure Presentation

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Transcript of "Foreclosure Presentation"

  1. 1. Prepared by John F. Gianola Managing Attorney [email_address] Iowa Legal Aid Foreclosure Defense Project
  2. 2. Mortgage crisis: What went wrong? <ul><li>“ The difference between a good loan and a bad loan is that in a good loan the lender succeeds when the borrower succeeds. In a bad loan, the lender benefits from the borrower’s misfortune …” – Rachel Anderson, CRL </li></ul>
  3. 3. What is Iowa Mortgage Help? <ul><li>Iowa Mortgage Help (IMH) is a consortium of agencies working to address the foreclosure crisis in Iowa. It includes the Iowa Attorney General, Iowa Finance Authority, Iowa Mediation Service, an association of certified housing agencies throughout Iowa, and Iowa Legal Aid. </li></ul>
  4. 4. What is the Foreclosure Defense Project? <ul><li>Specialized project at Iowa Legal Aid to assist homeowners facing foreclosure. </li></ul><ul><li>Primary assistance to Iowa Mortgage Help (IMH) clients. </li></ul><ul><li>IMH funding allows assistance to clients without regard to Iowa Legal Aid’s stringent income guidelines. </li></ul><ul><li>After intake, cases assigned to an attorney in one of Iowa Legal Aid’s 10 offices statewide. </li></ul><ul><li>Clients provided spectrum of services, such as: Legal counseling, pro se document preparation, and court representation -- depending on needs of client and available resources. </li></ul><ul><li>Consultation with and training for Iowa Mortgage Help staff. </li></ul><ul><li>Property subject to foreclosure must be primary residence of client. </li></ul>
  5. 5. Goals of Foreclosure Defense Project in Litigation <ul><li>Work in partnership with Iowa Mortgage Help counselors to leverage mortgage servicer cooperation. </li></ul><ul><li>Familiarize courts with common defenses to foreclosures. Stop rubber-stamp judgments. </li></ul><ul><li>Prevent unnecessary loss of homes. </li></ul>
  6. 6. What Does Iowa Legal Aid Do for Clients Facing Foreclosure of Their Home? <ul><li>Informs them of their legal rights and responsibilities. </li></ul><ul><li>Explains Iowa’s law related to six-month delay of sale. </li></ul><ul><li>Assists in preparation of documents to request delay of sale and answer to foreclosure petition. </li></ul><ul><li>In some instances, provides ongoing representation in foreclosure lawsuit. </li></ul>
  7. 7. Typical Case Scenarios <ul><li>Foreclosure improperly filed by mortgage servicer which does not have possession of the note or mortgage. </li></ul><ul><li>Foreclosure pursued by mortgage servicer/lender without following Making Home Affordable, VA, Fannie Mae, Freddie Mac, FHA or other mandatory pre-foreclosure workout regulations. </li></ul><ul><li>Mortgage servicer pursues foreclosure instead of cooperating with flood buy-out program. </li></ul>
  8. 8. What is the Impact of Iowa Legal Aid’s Work on Clients? <ul><li>Preventing homelessness </li></ul><ul><li>Saving low-income housing </li></ul><ul><li>Providing more stability for children who are going to school and staying in their home and neighborhoods </li></ul><ul><li>Preserve equity in homes </li></ul>
  9. 9. What Does Iowa Legal Aid’s Assistance in Foreclosure Cases Do For Communities? <ul><li>Preventing foreclosures assists in stabilizing property values and makes neighborhoods safer and more secure </li></ul><ul><li>Preserves stock of affordable for-sale homes occupied by lower-income families. </li></ul>
  10. 10. What Do Clients Say About Iowa Legal Aid’s Foreclosure Services? <ul><li>First I would like to thank you for your time, commitment, professionalism and enthusiasm in helping me to keep my house. I have enjoyed working with you and you helped me keep my hopes up in the paperwork struggle that seemed endless. You are easy to talk to and you explained things that seemed hard to me. The legal assistance that you provided me as the best. I can't thank you enough for what you and all of your employees have done to help me. . . Thank you again for helping me get a modification so I can keep my house. There's no place like home! </li></ul>
  11. 11. What Do Clients Say About Iowa Legal Aid’s Foreclosure Services? <ul><li>Took a big burden off my shoulders, and eliminated a big part of my stress and worry. </li></ul><ul><li>The attorney kept well informed and helped me get my home mortgage modified so I could keep my home. My home loan was modified to a more affordable payment. </li></ul><ul><li>Iowa Legal Aid helped me to not lose my home. Excellent quality of help. </li></ul><ul><li>Made me very comfortable throughout the process. I felt I had some one looking out for me. You saved my house. I would have been homeless. Thank you very much!! </li></ul>
  12. 12. What Do Iowa Legal Aid’s Partners Say about Iowa Legal Aid’s Services? <ul><li>We sincerely appreciate the effort and expertise you and your staff bring to the IMH project; their success is very encouraging Please extend my thanks to all. Horizons Consumer Credit Counseling Service – Scott Shook, Director </li></ul><ul><li>Iowa is extremely fortunate to have everyone who makes up the Iowa Mortgage Help Coalition.  Everyone plays such an integral part in the IMH process, but I must say the legal support that we receive from the Attorney General's Office and Iowa Legal Aid is what truly sets us apart and above any other state foreclosure prevention programs in the nation. Operation Threshold – Lekeisha Veasley, Housing Counseling Supervisor </li></ul>
  13. 13. Questions? <ul><li>For further information contact: </li></ul><ul><ul><li>John Gianola [email_address] 319-338-3369, Ext. 1501 OR </li></ul></ul><ul><ul><li>Dennis Groenenboom [email_address] 515-243-2980. Ext. 1620 </li></ul></ul>

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