Articles Posted in Virginia

When facing foreclosure, the best way to get your mortgage back on track is to obtain a modification. You will need to complete your lender’s loss mitigation package. Loss mitigation involves the submission of various financial documents and a Request for Mortgage Assistance (or RMA). The lender will make a cursory review of your application, then…

When you cannot afford to pay your mortgage, there are a few possible outcomes, including a short sale or foreclosure. If you want to keep your home, however, the best solution is usually mortgage modification. Mortgage modification involves changing the terms of your mortgage loan so that it becomes more affordable to you. Mortgage modification…

Marriage is much more than the spiritual union between two people. Marriage also joins two otherwise completely separate lives — socially, legally, and financially. A problem in one spouse’s life will affect both, and that includes any financial problems, too. You may be engaged to marry someone who just filed for bankruptcy, or someone who…

Lee Legal provides foreclosure defense in Washington, D.C. We defend homeowners and commercial property owners facing foreclosure in D.C. Superior Court. If you receive a Complaint for Judicial Foreclosure, there are deadlines to file papers with the court. Once you are served, you have only 20 days to file and serve an Answer to the Complaint. As soon…

The racial wage gap is wider today than in it was in 1979. And according to this recent Washington Post article, student debt is exacerbating the gap. Student loans make it more difficult for to save money and accumulate assets. Targeted student loan forgiveness could narrow the racial wealth gap. Education levels directly influence both economic opportunity and…

In July 2016 the Consumer Financial Protection Bureau (CFPB) released a report titled Guiding Principles for the Future of Loss Mitigation. The report lists several “lessons learned” from the financial crisis and makes recommendations to mortgage lenders and servicers for a post-MHA era. One specific suggestion is the permanent adoption of the loss mitigation “waterfall” model. The…

You know you’re right. The other person knows you’re right. Every reasonable person with an objective perspective on the facts would agree: “You’re absolutely right!” Unfortunately, sometimes being right isn’t enough. Some people are really stubborn. Some people just don’t like to admit they’re wrong. Others don’t want to have to pay money if they think they can worm…

As a bankruptcy lawyer serving the Washington D.C. area, I have helped hundreds of businesses and individuals seeking debt relief. Most of my clients are a pleasure to serve, but sometimes communications issues arise. Here are some ways that you can help your bankruptcy attorney to advance your case. Help me to help you with these simple key communication…

If you file your Chapter 7 bankruptcy within the next three weeks, you will get your bankruptcy discharge before Christmas. Start your new year off right and get straight with your finances. This holiday season, give yourself the gift of a debt-free life. Most Chapter 7 bankruptcy cases take three months from start to finish. About…

When you file for bankruptcy, you’re giving yourself a financial fresh start. Bankruptcy allows you to easily free yourself from debts you have no realistic ability to repay. Although there are many positive benefits from bankruptcy, your credit will still also take a hit. Before you even file, you should think about the proactive steps you can…