Massachusetts Resident Wins Case That Voids Foreclosure Sale

David Zak, Lawyer pic
David Zak, Lawyer

Lawyer David Zak represents clients through his private practice in Needham, Massachusetts. In his work as a lawyer, David Zak defends clients against large financial institutions seeking unlawful foreclosure on properties.

In a recent case filed by David Paiva against the Bank of New York Mellon (BONYM), the plaintiff disputed the bank’s right to conduct a foreclosure sale on his Massachusetts home in a two-count complaint. The first count alleged that the bank did not strictly comply with paragraph 22 in the mortgage agreement, regarding proper procedure for executing a notice of default. The paragraph explicitly states a lender must send a notice of default to a mortgagor. Mr. Paiva received a notice of default from the servicer of the loan, Countrywide Home Loans, Inc.

The second count focused on timely filing with the office of the assessor or collector of taxes of the municipality in which a property is located. General Law c. 244, section 15A, requires foreclosing banks to notify tax authorities within 30 days of conveying title. BONYM reported the change in title more than nine months following the sale.

The evidence supported Mr. Paiva’s claims and voided the foreclosure. However, the plaintiff’s failure to make payments since 2008 despite his continued residence at the property resulted in denial of his request for damages and expenses.

Lowering Mortgage Payments Through the Making Home Affordable Program

David Zak, lawyer with the firm of Zak Law Offices, strives to help clients take advantage of the federal Making Home Affordable Program. To date, David Zak has leveraged his experience as a lawyer to help mortgage holders receive balance reductions of up to $200,000.

Enacted by President Barack Obama in 2009, the Making Home Affordable Program provides relief for mortgage holders who find themselves overwhelmed by home loans. The program offers a variety of solutions, from lowering of monthly mortgage payments to foreclosure-free ways to exit a troublesome mortgage. The program also offers solutions for homeowners who owe more than their home’s value or for those who have become unemployed.

For borrowers who would benefit from a lowering of monthly payments, the Home Affordable Modification Program (HAMP) helps arrange such a change with borrowers. The program has solutions available for borrowers with traditional lenders as well as those working with such government guarantors as the Federal Housing Administration and the Department of Veterans’ Affairs (DVA).

Lawyer David Zak and HAMP

Lawyer David Zak, who heads Zak Law Offices PC, has successfully renegotiated mortgages using legislation passed Congress which gave rise to the Home Affordable Modification Program (HAMP) in order to help his clients avoid defaulting on their mortgages. If you have concern that your rights under HAMP or another piece of legislation have been violated by your bank, or you need help negotiating a mortgage loan modification, lawyer David Zak can help.

So what is the Home Affordable Modification Program? HAMP is a federal program that came into existence due to the subprime mortgage crisis that caused the economic recession of 2008. The aim of the program is to assist home owners with loan modification. It was created as part of the Emergency Economic Stabilization Act of 2008. As part of the terms dictated by HAMP, mortgage lenders are granted the ability to form contracts with the U.S. Treasury in order to modify homeowners’ mortgages and receive compensation for doing so. HAMP also strives to ensure that mortgage modification occurs as a uniform process, carefully laying out how this process is supposed to occur as a fair process for all homeowners.

Lawyer David Zak and the Truth in Lending Act

Lawyer David Zak has a well-established record for successfully negotiating loan modifications on behalf of his clients under the federal HAMP program promulgated by the US Treasury as part of the Economic Stabilization Act of 2008 passed by the US congress. The obtaining of a modification often requires borrowers to assert claims under federal laws such as HOEPA, FACTA, RESPA and TILA.

One of the major pieces of legislation that helps grant rights to borrowers of credit in the United States is the Truth in Lending Act. The Truth in Lending Act was passed in 1968 and aimed to help regulate certain predatory lending practices that were considered out of control at the time. The bill requires creditors to inform customers about the APR (annual percentage rate) and other charges associated with a loan. The reason this was implemented is to help promote information liquidity in the marketplace, helping consumers to shop around for credit more easily. The law also requires mortgage companies to offer specific literature from the Federal Reserve Board to ensure that customers are made aware of their rights.

If you believe your rights granted in the Truth in Lending Act have been violated, you may wish to consider getting legal assistance. Lawyer David Zak has substantial experience in renegotiating mortgage terms under this federal law and others in multiple states on behalf of debtors and mortgagors.

Lawyer David Zak attended Suffolk University Law School between 1999 and 2003.

As president of Zak Law Offices PC, lawyer David Zak assists clients in legal issues related to mortgage modification negotiation through the government’s Making Home Affordable Program. He earned his J.D. from the Suffolk University Law School in 2003. While there, he received recognition as the Best-Brief Writer and Best-Oral Advocate.

In recent years, Attorney Zak’s alma mater, Suffolk University Law School, has come to offers Focus Area in Real Estate and Land Use. Students enrolled in the Suffolk University Law School are encouraged to take advantage of opportunities to focus on a particular area of the law. The school’s areas of focus were designed to guide students to classes that support their long-term career goals. For J.D. candidates interested in property law, the real estate and land use area of focus covers coursework on the use, transfer, and development of real property. Legal scholars who pursue this focus area are directed to electives such as Land Use, Conveyancing and Mortgage Law, and Real Estate Litigation. Course selections change each semester.

In addition to the core courses, law students pursuing a real estate and land use focus are advised to complete recommended courses on issues ranging from accounting to international environmental law. For full descriptions of real estate and land use courses, as well as information about other study focus areas, interested individuals should visit

Lawyer David Zak: Home Affordable Modification Program Helps Adjust Mortgages

David Zak, a Massachusetts lawyer, has negotiated more than 400 loan modifications under the federal Home Affordable Modification Program (HAMP) since 2009. He assists clients as president of Zak Law Offices PC, a premier mortgage modification practice located in Revere, Massachusetts.

A program run by the federal government, HAMP assists eligible, employed homeowners experiencing difficulty in making their mortgage payments. Through the program, individuals may be able to get lower monthly payments that promote the long-term sustainability of the financial relationship between them and their lenders.

In the summer of 2012, the Obama administration decided to increase the number of people eligible for HAMP. The newly included people comprise those who apply for a loan modification on a non-primary residence rented to others or intended to be rented to others. Furthermore, homeowners who did not qualify under the old rules on account of a debt-to-income ratio of 31 percent or lower now may qualify. The new rules also allow homeowners who defaulted on payments during a trial period with HAMP to seek help through the program.