Tonight on the Neil Garfield Show: Attorneys Fees and Court Costs

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So night we will tackle the ticklish but not funny issues involved in the costs of litigation. Despite Congress’ enactment of Statutory TILA Rescission, it is obvious that nobody will get any real relief without litigation. Attorneys across the country ask me how much they should charge and how to set up payment. Homeowners are asking me how much they should pay and how they should pay it. The  answers vary widely depending upon the status of the case and the specific details of the alleged loan(s).

Q. “Will you take it on a contingency?” A: “Sure which rooms can I move into when we win the foreclosure trial.” The problem is that most layman don’t quite know what a contingency fee is, much less how it works. All they know is that it means they don’t pay anything. And lawyers are missing opportunities on contingency fees when they insist on getting paid up front.

Tonight I will review various plans for charging and payment of attorney fees, court costs, investigation costs and forensic analysis. The takeaway here is that borrowers should be aware they have substantial chance of winning or getting a modification if they are willing to go to war. If a borrower is paying a few hundred dollars per month he is not likely to get service that would put an attorney to work for 20-30 hours in preparing for trial — let alone the hearings and motions and and file analysis used to develop the best possible strategy. The other takeaway here is that just because a lawyer doesn’t know how to charge doesn’t mean he or she should get out of foreclosure defense. Don’t believe the Bank PR — we have another 7 million foreclosures to go, but the Banks are hiding it by moving hotspots around the country. Just ask the people in New Jersey.

I will describe and then suggest different plans so that it becomes affordable to the borrower and profitable for the lawyer. The banks have created a huge pool of money that can be attacked for profit. Houses can be saved, and money can be made.

6 Responses

  1. Does anyone have Wells Fargo In House Attorney’s or Legal Department contact information?

  2. Maybe I’m not being entirely fair but it seems to consist mainly of a major distraction tactic of showing false concern for homeowners. You see, guys, these are just homeowner “delay” tactics (these pesky laws as set forth in the statutes and the contracts governing the loan transaction), and “studies” (no doubt commissioned by the Banker’s Aid Relief Charitable Society) show that giving distressed homeowners more time in their homes does not improve their chance of successful reinstatement.” Huh? What does that have to do with the issue of whether a foreclosing party is civilly liable for exercising authority he does not have to take real property that does not belong to him?

    At least Hitler changed the laws first. These Fascists are so lazy they dont even want to change the laws first.


  3. We were victims of an illegal foreclosure. How would someone in arrears have over $35,000 to pay an attorney? Then having all the proof and preponderance of evidence and doing all the work for the attorney the corrupt Judge still made an UNETHICAL Judgment????? I know people who have not made a mortgage payment in over 3 years and our home was paid off in full and we illegally lost it? Thank god I was a hoarder and saved everything but now it took me years to learn the Rules of Law. I never set out to be an attorney just a law abiding citizen who never missed a mortgage payment. Our case is about to be exposed and I can’t wait to see how much time the lawyers, & Judges will get for ignoring their oaths and the Rules of Law. I will be sure to let you know

  4. Leah … Is your rescission within the extended 3 year window? (Servicers are responsible for TILA violations too)

    They now have 20 days to act.

    Do you have a plan in place for what you will do if they ignore it?

  5. I am in New Jersey .. I am in the hot-spot

    My case is the poster-child for the rescission battle … too bad I was never able to find a competent attorney with the backbone and desire to take the fight to the Judge and the bank attorneys for Wells Fargo.

  6. Bank of America denied my recission just this past Tuesday. Even though Bank of New York Mellon says they do not own loan or property Bank of America is insistent that they are my Lender and America’s Wholesale Lender a Corporation was the original Lender.
    Texas certified documents from Secretary of State show assumed name Countrywide Home Loans dba America’s Wholesale Lender. When they responded through the Consumer Federal Protection Agency, they response read Your Lender, America’s Wholesale Lender said!!!! (What America’s Wholesale Lender said something)? Really, wait a minute? How did they speak I asked? Anyway, Recission denied!

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