BROOKLYN, N.Y., July 19, 2013 /PRNewswire/ -- Although major mortgage lenders including Bank of America are bucking the system, Litvin Law Firm, P.C. is assisting clients through the difficult, but potentially beneficial process of obtaining government sponsored mortgage relief.
It was recently reported that that the Obama administration's premier anti-foreclosure program – the Home Affordable Modification program, or HAMP – has been pretty much a flop. In fact, it is estimated that the program has helped fewer than half of the four million households that it was originally envisioned to provide assistance for. In reaction to this, Gennady Litvin, founder of Litvin Law Firm P.C. (www.litvinlaw.com) has stated, "Our firm is here to assist struggling property owners. If a HAMP or other government program is their best solution, we will work with their lender to make it happen."
The issue of big banks focusing on profits rather than keeping homeowners in their homes is nothing new. However, As Mr. Litvin noted, the government created the Home Affordable Modification program (HAMP), the Home Affordable Refinance program (HARP) and other government sponsored programs to compensate the banks for helping financially troubled homeowners that cannot afford to pay their mortgages. In particular, a recently published article has reported Bank of America to be exceedingly difficult in facilitating government backed mortgage relief programs. (http://www.usnews.com/opinion/blogs/pat-garofalo/2013/07/15/bank-of-americas-hamp-foreclosure-problem-is-holding-back-the-economy).
Mr. Litvin said, "The Litvin Law Firm has successfully negotiated all types of government mortgage relief as well as non-government relief with Bank of America, Wells Fargo, Citibank and nearly every other major lender. We work in harmony with our clients lenders to obtain the best workout for the client; but if the bank does not wish to cooperate we will put on our boxing gloves and fight hard to resolve our client's problems."
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SOURCE Litvin Law Firm, P.C.