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Riverside Court Attorney :: If you feel that you have suffered from an unlawful business practice and have suffered financial damages please contact The Gwynn Law Firm, PC.

FORECLOSURE AVOIDANCE AND LOAN MODIFICATION - RIVERSIDE COURT ATTORNEYS :: The law allows banks to secure their loans with what is commonly called a mortgage but is in actuality a “deed of trust.” The deed of trust is exactly what it sounds like. A trust is created to hold the deed to the property. Every trust has three parties. First is the trustor who funds the trust or in this case places property (the deed) in the trust. Second is the trustee who holds the property. Third is the beneficiary who gets the property held in trust. In the trust created by a deed of trust, you agree as trustors to turn over the property to the trustee who will give the property to the beneficiary (the bank) if you don’t make payments on promissory note as promised. You may recall signing the note when you got the loan on your home.

Whatever you do in the face of such circumstances, think very carefully before transferring assets to family members. Once the accident has occurred, post accident transfers are often deemed fraudulent transfers. This creates additional problems for you and the recipient. Transfers prior to the accident are obviously not subject to such allegations.

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Riverside Court Attorney Gwynn Law Firm | Jeff Gwynn Attorney at Law - 3637 Arlington Avenue, Ste D | Riverside | CA | 92506 | 951-684-3774


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