During careers that span over a decade, our partners have extensive experience representing some of the largest financial institutions and mortgage servicers in the country. With their combined resumes and vast experience, the partners of Marinosci Law Group, PC ("MLG"), firmly believe that the best way to provide quality legal representation and outstanding customer service is to be in a position to offer clients "one stop shopping". That is why not only our lawyers but our support staff have years of experience in all areas of default, including foreclosure, bankruptcy, eviction REO closing and title and why we are ready, willing and able to handle whatever may arise during the foreclosure process.

We understand that Home Retention and Loss Mitigation are of great importance to our clients. After years of working with lenders and borrowers, we believe that the law firm representing you, the lender, can be an integral part of the success of keeping a borrower in their home. With a nation in the midst of a “foreclosure crisis” we believe that aiding in home retention and loss mitigation is not only our job but our responsibility. We have built our firm on this philosophy. We intend to work closely with our clients to implement and discover creative and effective processes to insure that all potential home retention and loss mitigation opportunities are presented to both the lender and borrower at the earliest phase of the process. In a time where recklessly speeding through the foreclosure is “common practice” for many law firms, it is no wonder that viable home retention and loss mitigation solutions are missed.

As we, your lawyers, are often the first line of communication with a borrower in foreclosure, we believe we have the ability to be a “liaison” between borrower and lender so that a mutually beneficial solution can be reached, short of foreclosure.

Here is how we will assist in Home Retention/Loss Mitigation:

• A Home Retention/Loss Mitigation letter will be sent immediately upon receipt of a referral. This letter will outline and educate a borrower on many of the most popular resolutions such as workouts, loan modifications, short sales, deeds-in-lieu of foreclosure, and forbearance agreements. The letter will contain the name(s) and contact information for our Home Retention/Loss Mitigation specialist(s) who will be responsive and available when a borrower calls.
• We intend to work with our clients to obtain prior-authorization to enter into forbearance/repayment agreements directly with a borrower while we have them “live” on the telephone.
• All Home Retention/Loss Mitigation “leads” will be presented to our clients in a timely fashion for optimal results.
• We intend to work with our clients on setting up a “hot transfer” telephone line, where upon receipt of a telephone call from a borrower, we have the ability to “transfer” them to a live, representative at the Lender’s office to discuss a resolution.
• Upon receipt of notification by a borrower’s counsel that they “intend” to file bankruptcy, we immediately discuss other alternatives. Many times, a borrower and their counsel believe that the filing of a bankruptcy action is the “only” way to stop a foreclosure. In many instances, we have found that once we discussed other possible solutions, a bankruptcy filing was avoided.
• As with all other areas of our firm, COMMUNICATION is the foundation of our practice. In speaking with so many borrowers, a common complaint is that “no one will return a call” or they get lost in automated voice systems. Our team is acutely aware of the need to be responsive and the benefits it produces. We intend to continue to build our reputation on the fact that we are accessible and that you will always receive a response from our office no later than 24 hours from when your call is placed, whether you are a client or a borrower.
• We are also developing innovative “website” options that will allow a borrower to obtain information about Home Retention/Loss Mitigation directly from our firm website. A borrower will be able to submit “workout” proposals directly to our firm via our website. Capturing this type of information early on is key to keeping a borrower in their home. We are also able to provide our clients with secure access to our website to obtain up-to-date case status, which will include information on any pending Home Retention/Loss Mitigation efforts.

Because of our commitment to being the BEST, we have implemented cutting-edge technology. All related matters are linked so that we have instant access to all aspects of the process with only one keystroke. Our case management software is fully integrated with all of the leading industry web-based applications such as NewTrak, Vendorscape, Quandis, LenStar, NewInvoice, I-Clear etc. This integration allows us to keep our clients fully informed as to case status and guarantees that our clients are not "left in the dark". We are also developing a secure login for our clients to access our firm website to obtain up to the minute status on any case we are handling.

Our technology allows us to create custom-made quality control reports so that we have the ability to constantly refine and analyze our processes. Changes can be made quickly to keep up with the ever-changing needs of the industry. Because of our advanced technology, our staff members have the time and capacity to concentrate on what is really important, our clients.

MLG believes that exceptional legal representation does not need to “break the bank”. We are flexible in our negotiations with our clients and are committed to providing affordable legal services. We are mindful not just of the “fee” but of the related costs of the foreclosure process. We are constantly looking for cost-saving opportunities. For example, we are currently in discussions with a vendor that can reduce the cost of certified mail by $1.30 by using a digital return receipt method.

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BANKRUPTCY

A bankruptcy filing creates a delay for our clients. This delay can be quite costly and can last for extended periods of time. If not handled properly, a brief delay can turn into an eternity. We thoroughly review all filings for issues of “non-dischargeability” and compliance with all aspects of the Code.

Throughout the duration of the case we take steps to protect the collateral. By analyzing valuation issues, we can move to “except” debts from discharge and oppose modifications.

Loss Mitigation is as urgent and necessary in a bankruptcy matter as it is in a foreclosure.

Here is how we intend to assist in Loss Mitigation (Bankruptcy):

• Upon receipt of notification from a borrower’s counsel that they “intend” to file bankruptcy, we immediately discuss other alternatives. Many borrowers and their counsel believe that the filing of a bankruptcy action is the “only” way to stop a foreclosure. In many instances, we have found that once we have taken the time to discuss other possible solutions, a bankruptcy filing was avoided.
• If a bankruptcy petition has already been filed, we continue to work towards a resolution. We will not wait for debtor’s counsel to contact us. It is our experience that we will not hear from debtor’s counsel until the day before a scheduled motion for relief hearing. At that point there is usually very little that can be done and relief is either granted or the hearing is continued to see if a “workout” can be reached, which causes an unnecessary delay. Instead, we initiate communication at the outset and make ourselves readily available to debtor’s counsel to facilitate a stipulation.
• Upon the filing of a bankruptcy petition we never lose site that “reaffirmation” is possible. We actively pursue same with debtor’s counsel.
• We understand that often debtor’s counsel is unresponsive to our loss mitigation efforts and that more than one attempt may be needed. Our case management software ensures calendaring options to assist in consistent follow up.

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EVICTIONS

We understand that once a client takes a property into its REO portfolio that time is of the essence to get that property sold. If the property is occupied, an eviction action must be commenced immediately to achieve this objective. In today’s foreclosure climate, evictions are becoming more and more difficult as the state court judges become more sympathetic to tenants. Our experience has told us that we must find creative and effective solutions to the eviction problem. It is our goal to get a property vacant prior to any court hearing. We have turned our attention to what we can do to facilitate a resolution short of the courtroom. We have been quite successful in our loss mitigation efforts and can boast that 75-80% of our eviction matters are resolved without a courtroom appearance.

Here is how we intend to assist in Home Retention/Loss Mitigation (Eviction):

• Upon receipt of the referral, correspondence is sent to the property address advising the occupants that ownership of the property has changed and that they will need to re-locate. The letter also notifies the occupants that they may be eligible for “re-location assistance”. The letter provides a “short window” by which the occupant must contact our office to discuss this option. This letter serves dual purposes. First, upon calling our office we are able to obtain accurate occupant information which aids in expediting our eviction process. If we do not have accurate occupant information at the outset our action can be delayed later in the process and in some instances an action must be re-started. Second, and more importantly, it initiates discussion about possible resolution of the matter short of eviction proceedings.
• We aggressively pursue “cash for keys” and/or Agreements for Judgment. We will continue to work these options while simultaneously proceeding with the eviction action. We have fostered successful working relationships with our local brokers which has aided in a large percentage of “cash for keys” agreements.
• We maintain diligent contact with the occupants of the property throughout the eviction process with the hope that we can obtain Agreements for Judgment prior to hearing.
• At the conclusion of the foreclosure, if a former owner/and or existing tenant is inquiring about re-purchasing the property, all information is immediately forwarded to the client for review. We will advise the client of the possible reasons why the offer should be accepted (i.e. condition of the property, decline in fair market value, climate and trends of the housing market in our area).
• Through our REO experience we have access to a large, national investor network. Our investors are often actively seeking properties for purchase. Many of these investors will purchase properties that are occupied, especially those with paying tenants. Our website will list our eviction/reo properties, including photos, so our investors may review same. All leads/offers will be forwarded to the client for immediate review to avoid eviction actions.

OBSTACLES:
One major obstacle we have seen is the lack of information a client has on the condition of any given property. Often there are Housing Code Violations filed by the city or town and this can hinder the eviction process. Tenant attorneys are raising these issues in separate actions against the client and delaying the eviction. In addition, the lack of knowledge of the condition of a property can make informed decision making by a client nearly impossible. It is essential that the client have all relevant information the moment it takes ownership. A client can then take pro-active steps to protect its interest in the property and properly winterize and secure. Also, housing code violations can be fixed before they give rise to litigation during the eviction.

We work in conjunction with local brokers to obtain as much information as we can about the property upon receipt of the referral. We initiate contact with the local city or town department of inspections and standards to determine if there are any violations of record. These simple steps can save a client time and money.

A second obstacle is obtaining accurate occupant information. As mentioned above, the lack of information about who is residing in a property can cause great delay in an eviction action. Again, we work hand in hand with the local brokers to obtain this information and if we still have difficulty, we enlist the assistance of local sheriffs/constables who will conduct an investigation into same for a nominal fee.

It is only with cooperation between your lawyers and local brokers that a quick resolution can be achieved. We pride ourselves on the relationships we have formed which continue to serve us well.

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REO SERVICES

We are equipped to handle your asset from the moment you take it in house until the moment it is successfully sold. We believe it is our job to facilitate a quick, seamless sale. We have teamed up with Liberty Title & Escrow to ensure we can provide exceptional closing services. We currently have a team devoted entirely to title curative issues. We currently have six full time employees in the title curative department. We also have attorneys on staff (Marinosci Law Group, PC) to assist in the clearing of title issues.

Liberty begins the title clearing process as soon as the title order is received in order to ensure clear title by the time the asset goes under contract. Our staff members are trained to detect a title issue that may prevent a successful closing. We work with all local foreclosure attorneys to facilitate timely and proper recordation of all foreclosure documents.

Liberty calls upon its relationships with national underwriters that issued prior title policies to cover or indemnify over any title issue that may arise in the title report.

Liberty and Marinosci Law Group, PC. highly recommend the “cradle to grave” model for foreclosure. With its combined experience, network and knowledge, we can expedite title curative issues so that the transition into the REO department is seamless. The law firm having the “knowledge” through Liberty of exactly “what” issues will hinder a successful closing, will be sure to pass along to its REO department a “flawless” foreclosure long after other firms have closed their file and moved on to the next foreclosure, leaving the REO firm out in the cold.

Marinosci Law Group, PC are committed to the use of innovative, creative and one-of-a-kind marketing techniques to assist its clients with their REO portfolio. It is the firm’s goal to reduce the number of REO properties in our clients’ portfolios. We have enlisted the assistance of our auctioneers and local real estate network, with which we have long-standing, working relationships, to market properties both pre-auction and post-auction. We have established creative on-line and off-line marketing strategies in order to optimize third party sales the day of the auction and post-foreclosure. With greater exposure and focused marketing, it is our goal to reduce the amount of properties in REO and maximize the dollars received by our clients with the successful sale of the property.

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