Arizona Homeowners Could Benefit from Relief Offered by Wells Fargo | Legal News | News Ticker
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- Arizona Homeowners Could Benefit from Relief Offered by Wells Fargo | Legal News | News Ticker
As the Arizona economy continues to struggle, people are desperately looking for any solution to their mounting financial stress. One of the fundamental reasons that so many residents of Arizona are struggling is because of the depressed real estate market, as thousands of people find themselves under water with their mortgages. What’s worse is that many of these mortgages will become even more difficult to manage as payments rise within the next two years when their rates adjust. This development could make a bad situation worse, but now comes word that Wells Fargo has reached an agreement with Arizona Attorney General Terry Goddard to offer some relief to some struggling homeowners.
The specifics of the offering include Wells Fargo providing relief for more than 1,700 homeowners with payment option adjustable-rate mortgages, also known as “pick a payment” loans. The total amount being invested by the enormous bank could total up to $154 million, with $86 million being pledged for the reduction of the principals on these loans. Wells Fargo finds itself in this situation because it bought Wachovia Corp. and Golden State Corp., two of the more notorious lenders involved in the nationwide mortgage crisis.
Seek a Solution with an Arizona Bankruptcy Lawyer
While this is certainly good news for those 1,700 homeowners, it will not help the thousands of others who find themselves in similar situations. For those people who will not be able to take advantage of this offer, there are still options for relief. However, those options cannot be explained and a plan to put an end to this grueling financial stress cannot be put into action unless those who are struggling take that difficult first step to contact experienced professionals for the help they need.
If this includes you, it’s time to regain control of your life. Start this process by contacting an experienced Arizona bankruptcy lawyer to take a look at your finances so that you can work towards a solution, whether that includes filing for bankruptcy protection or not.
The Phillips Law Group recommends the experienced bankruptcy attorneys atMontano Arentz & Associates, PLLC for all of your bankruptcy needs. Call today to schedule a free initial consultation!
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A friend of mine recommended Phillips Law and I’m so grateful, because they were so wonderful, so down to earth, so professional. I felt like they were family.
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Sophia H. at Phillips Law Group has been an absolute joy to work with -quick, responsive, and professional in every interaction. Her breadth of knowledge, from administration to IT to finance, is nothing short of impressive.
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I was recently served court documents that I was being sued from an accident that happened years ago. For someone who has never been through something like this and not familiar with the court lingo or where to even begin, it was very frustrating and stressful. I reached out to a family member who knew Tracy Laskos and the great reputation of Phillips Law Group and within the hours of the initial call for help, I had a direct number to Lead Attorney Nassar. Nassar heard my case and almost instantly put me at ease by explaining the process and how easy it was to handle. Nassar spoke to me like he was a friend, not like I was a client. I am so grateful to Tracy, Nasar and of course my cousin Stephanie for helping out and giving me the direction that I needed to get through this situation. I plan on referring my friends, family and patients that are in need of a personal injury Attorney to Phillips Law Group. Thank you!!
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Liz Gonzales was great!!!!
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It’s an Honor and a Privilege to work for a company that cares about its employees and clients for 12 years. I’ve seen Management go out of their way to help someone whether it’s a personal matter or work related. I am also reminded of many occasions where a Client needed urgent help and we as a Team were able to get the person immediate assistance. At Phillips Law we make that happen through Teamwork and a dedication to our profession. I’ve had numerous jobs in several other fields, those were just jobs. This is a home. Many of us have been here for quite a few years, it feels like one large extended family.
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I have been with Phillips Law Group for a little over a year and I have learned what teamwork and family in a workplace looks like. There is always someone around to lend a helping hand, which is something I appreciate and cherish. I feel a sense of joy coming to work every day because of my co-workers as well as being able to help people in what can be a scary and stressful situation. I currently work as a Litigation Legal Assistant with an amazing team. When I started here, I was not very knowledgeable in personal injury. I was lucky to have been placed with an amazing team who was willing to take time to teach and pass on some great skills that have been a huge aid in helping me be successful in my position. I would recommend working here at Phillips Law Group, because they care about their employees and there is so much room for growth.
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Many companies talk about teamwork but few practice it. Many companies talk about an employee friendly environment but few actually provide it. At Phillips Law Group the foundation of our success is making sure we work as a team and that we work in an environment that allows everyone to thrive and be at their best every day. Our firm understands that in order for the client to have a great experience the people responsible for that client’s case must be given all the necessary tools and encouragement to make that happen. That’s the Phillips Way. As a manager of this firm in charge of several employees as well as directly affecting the client’s experience I take tremendous pride in saying we live by these premises and we work hard to build on them and make them better every day. This is an amazing place because it has amazing people working here!
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I enjoy my work day here at Phillips Law Group and generally speaking I love my clients. Every day brings a new client or task to keep me on my toes. Administration keeps open communication and is hilarious most of the time! I love the way we celebrate FRIDAY, holidays and birthdays and how everything is so competitive. All in all I’m so fortunate to be here and I enjoy what I do.
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If you are in need of legal support for a motor vehicle collision of any kind, I highly recommend going to Phillips Law Group Injury Lawyers. Sean Davis has exemplary knowledge and experience in this field, compassion for his clients, and excellent judgment and communication skills.
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My paralegal , Caroline , was on top of her game - very responsive and always answered any questions I had and in a timely manner . My attorney Rob ,was the best attorney I ever had . He explained everything in great detail and had a great sense or humor . He really knows how to bring light To tough , unfortunate situations - I would absolutely recommend them at anyone -