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Los Angeles Man Wins Property Back After Foreclosure and Eviction

sbwire.com | August 7, 2013

Homeowner Mike Cohenshad lost his investment home to foreclosure and was also evicted. A securitization audit company and Pasadena law firm helped him get it back.

Miek Cohenshad lost his investment home in foreclosure and also lost the accompanying Unlawful Detainer Hearing. He was then evicted from the investment property which was sold to a 3rd party at bank auction. Cohenshad hired the Law offices of Art Hoomiratana, a foreclosure defense firm in Pasadena, to seek out damages for wrongful foreclosure. Mr. Hoomiratana's office immediately hired Paladin Securitization Auditors to conduct a securitization audit to investigate the lender’s standing to foreclose.

The securitization audit found that there were grounds for a Fraud and Wrongful Foreclosure Case based upon statutory violations, promissory estoppel, negligence, negligent misrepresentation, and violation of Business and Professional Code 17 200. Using the securitization audit as evidence, The Law Offices of Art Hoomiratana litigated on these matters and won the home back, post-foreclosure, from the third party who purchased it. The judge found the foreclosure to be illegal and a wrongful foreclosure thanks to Paladin’s audit. The bank was forced to rescind the Trustee’s Sale and agreed to settle out and restructure the client loan including $188,000.00 in deferred principle reduction. His monthly mortgage payment was reduced from $4,981.43 to $2,492.59 and the interest rate was also reduced from 6.75% to 4%.

For reference, the court case is US. District Court Case No. CV13-00722-R (FFMx).

 

Back to August 2013 Archive

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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