Russell DeMott is an attorney in Charleston, South Carolina., practicing bankruptcy and foreclosure defense. I have helped consumers and businesses with financial problems since 1995.

South Carolina foreclosure help

Foreclosure Settlement Involving the Ten Largest Residential Lending Banks

Written Charleston Foreclosure Defense Lawyer, Kristina G. Pierce Recently, the Office of the Comptroller of the Currency (O.C.C.) and the Federal Reserve accepted a settlement deal requiring ten of the largest residential lending banks (Bank of America, PNC, Aurora, MetLife Bank, SunTrust Bank, Citibank, Wells Fargo, Sovereign Bank, U.S. Bank, and JP Morgan Chase) to…

uncertainty--woman puzzled look

Help! My Mortgage Company Filed Bankruptcy (Or, What to do if GMAC is your lender)

Sometime during the third or fourth week in May, 1.2 million homeowners went to their mailbox and pulled out a notice that their mortgage company, GMAC Mortgage (“GMAC”), filed for Chapter 11 bankruptcy protection.  Actually Residential Capital, GMAC’s parent company, filed along with 50 of its subsidiaries, including GMAC.  About 30 seconds after the average…

fighting foreclosure

Mortgage Modification: Is it worth it?

Written by Charleston Foreclosure Defense Lawyer, Graves H. Wilson, Jr. Having examined quite a few loan modification offers, I have mixed feelings about recommending that my clients accept a mortgage modification.  Obviously, if the modification lowers the monthly payment to an amount that the homeowner can afford, it can be an immense financial and emotional…