Castle Law Group Featured in Attorney At Law Magazine

Attorney At Law Magazine
Ben Hillard and the team at Castle Law Group are featured in the latest issue of the Attorney At Law Magazine – Great Tampa Bay Edition.

In the article (which starts on page 15) Ben describes the politics, economics, and personalities behind the 2008 economic crisis. Which include:

  • Higher insurance rates in Florida after the 2006 hurricane season
  • Lenders deviating from historical lending standards
  • “Stated” income loans
  • Banks moving from a model of originating loans and holding them, to a model of originating loans and selling, or securitizing, them
  • Government policies were also in place that incentivized subprime lending – which created competition in the market to see who could adopt the lowest lending standards
  • Borrowers being instructed by the lender to stop making mortgage payments to qualify for a loan modification

This had lead to people who could not realistically pay back their mortgages. When the financial crisis hit, many people were faced with foreclosures, and also the risk of deficiency judgements.

While Ben realizes that the thought of loosing your home is emotionally draining, it is important not to ignore the foreclosure lawsuit. “Your best opportunity to avoid a deficiency comes through aggressively defending the lawsuit.”

Ben’s background in banking gives him a unique to do this since he understands loss-reserves, lending capital, underwriting guidelines, and the lender’s role in creating the real estate bubble.

All of these factors have helped Castle Law Group wipe away more than $60 million in total debt since 2008.

But the work is not done. Ben expects an upswing in banks going after people for deficiencies.

The post Castle Law Group Featured in Attorney At Law Magazine appeared first on Castle Law Group.

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