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| Attorneys Attorneys Nathan Fransen and Dr. Paul J. Molinaro are the founding partners of The Law Offices of Fransen & Molinaro, LLP. Both Nathan and Paul bring many years of experience from other professional fields into their law practice. Nathan has been a mortgage broker and owner of a real estate and mortgage company. Paul is also a licensed broker with many years of real estate investment experience. Paul has also been a practicing physician for over sixteen years. Nathan and Paul apply their extensive training, knowledge, and years of experience to every legal case they handle. |
| Mortgage Law is one of the main practice areas of Fransen & Molinaro, LLP. Our typical mortgage law client is a victim of predatory lending which we loosely define as being given a loan that is unaffordable from the outset and contains restrictive terms. Our clients are victims of unfair, fraudulent, or deceptive lending practices, and we aggressively represent them against banks, lending institutions, mortgage brokers, loan officers, title and escrow officers, appraisers, notaries, and other people associated with mortgages for residential or commercial property. We obtain relief for our clients through many federal laws including the "Truth in Lending Act" "Real Estate Settlement Procedures Act" "Home Ownership and Equity Protection Act" and "Regulation Z" as well as consumer laws of the State of California such as Business and Professions Code Section 17200 and the Foreclosure Consultant Act. |
| The Truth-In-Lending Act can provide our clients relief by extending their three day right of rescission to three years after a refinance. When a borrower exercises the extended right of rescission, the lender must give back, to the borrower, all monies made on the loan, including all interest, broker fees such as points and closing fees, and other fees such as late fees or penalties. The law enforces these strict penalties to prevent lenders and their associates from taking advantage of borrowers. |
| The Media is a buzz with news of the devastating decrease in property values, the surging number of foreclosures, the excessive and obscene amounts of profits made by lenders, and the huge numbers of people being forced out of their homes. Anyone who's been reading the newspapers, watching the television, or getting the latest news from any source is aware that California is one of the areas hardest hit by the subprime meltdown and suffers a staggering number of foreclosures. In some areas of Southern California, one out of three homes is in foreclosure. Lenders and brokers have spent the last few years taking advantage of home owners by providing teaser rates and pay option loans, and the effect has been an artificially created "boom" in real estate. The lenders and brokers knew these loans were too good be true, and the borrowers weren't told the truth. The two-year fixed teaser rate loan are now changing to the adjustable rate, and homeowners are seeing their mortgage payments double. We have clients who have been paying two thousand dollars a month see their new statement demanding payment of four thousand dollars a month. There's no way they can afford the new payment, and they quickly find themselves facing foreclosure. Meanwhile, the broker made a large commission and the lender has been collecting a high interest rate in the form of the negative amortization. |
| Fransen and Molinaro, LLP is dedicated to handling clients who have fallen victim to predatory lending, and we take pride in knowing that we are able to protect our clients' most valuable asset... their home. |
Nathan Fransen, J.D : Attorney & Broker
Paul J. Molinaro, M.D., J.D. : Attorney, Broker, Physician |
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