How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Law Educator, Esq. Your Own Question

Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 88662
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
Type Your Legal Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

I am the principal signer for my sons student loan to Sallie

Resolved Question:

I am the principal signer for my son's student loan to Sallie Mae ( 2 loans totalling $ 50,000 ) and paid something at the beginning but since the crisis started I haven't been able to continue paying. I asked them to put them in deferment and forbearance and they did . Now is time to start paying again and I can't since my house is in foreclosure and my job ( self-employed went down dramatically ) We'll be able to stay in our house until September 22nd then the house will go for sale in the steps of the courthouse. My in-law has been helping us to pay a lawyer but the bank didn't wanted modified or help us to keep the house even though we went into mediation and found out that ( Bank Of America ) if they wanted to they could lower the interest, forgive part of the principal and made the payments low enough to pay it. I know that there are agencies or companies who say that they can negotiate or even deal in our behalf to forgive the loans but I don't know where can I go to. The lawyer who has been dealing with the bank is not their specialty. Can you suggest anybody or who can I go to, anything you can do to direct us is well appreciated. Thanks. Mario Lopez
Submitted: 11 months ago.
Category: Legal
Expert:  Law Educator, Esq. replied 11 months ago.
Thank you for your question. I look forward tow working with you to provide you the information you are seeking.

I am sorry to hear that this is happening to you as it is so many other students and parents. The student loan crisis is going to be the next major financial crisis to hit the US since the housing crisis. As far as student loans go right now, I am sorry to state that legally there is little that can be done with them, as these loans cannot be forgiven or even extinguished in bankruptcy and they can continue to pursue those payments and even garnish income that is not typically capable of garnishment in FL, such as wages or even pensions.

As far as the home foreclosure, you do not mention what your attorney has tried, but typically when a foreclosure is going on with this particular lender, because of all of the fraud that has been committed with their loans (such as robo-signing the notes) the attorney will conduct discovery and make them produce the original loan documents including the note and also will conduct a forensic loan audit to try to find illegal clauses in the lease to force the bank to negotiate with you or risk losing the loan. If you are already dealing with a local attorney that is the best thing, since most of these firms online or in the mail who advertise they will save your house are mostly scams and all they will do is take your money. Thus, you need to get your attorney right now to conduct a forensic loan audit and get the original loan documents so they can seek to prove BoA acted improperly in your loan to try to save your home as this is really going to be the last chance if the bank will not consider negotiating with you.




Thank you so much for using JustAnswer.com. I truly aim to please you as a customer, but please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered. PLEASE use REPLY to EXPERT if you would like more information or if you feel something was not included in your answer.

Kindly remember the ONLY WAY experts receive any credit at all for spending time with customers is if you click on OK, GOOD or EXCELLENT SERVICE even though you have made a deposit or are a subscription customer. YOU MUST COMPLETE THE RATING FOR THE EXPERT TO RECEIVE ANY CREDIT, if not the site keeps your money on deposit.

Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.

Customer: replied 11 months ago.

Thank you for your answer regarding the foreclosure. My attorney went through the motions and yes the bank presented the original note to the court but on top of that they included so many penalties and interests on top of our mortgage that it wasn't worth it for us to continue with the house. Our attorney and her broker are trying to sale the house through short sale and maybe we end up with some money to storage our furniture and move with our in-law. You mentioned that is little legally that can be done with the student loan, then these agencies or companies who advertise in the newspaper, internet and other magazines that they can negotiate , reduce the loan like , studentzoom.com , legal media team and others are not true? Question for you , our goverment can forgive the money loans to other countries without having to return back to us , the tax money that belong to us and not to the administration but we can't go bankrupt or negotiated it. Since we don't have nothing now that they can take from us and our credit is shot , how much and how long they can pursue us to pay if I can't pay it back and garnish wages when I am self-employed and don't know if I going to have any work tomorrow or the day after? Thanks again.

Expert:  Law Educator, Esq. replied 11 months ago.
Thank you for your response.

I am sorry to hear he went through all of that and was not able to find anything with the mortgage to help you. These companies that offer and claim to be able to get you out of student loans really are scams, in reality it just does not work because the courts do not reduce them. There are many of us in the same boat with student loans, if I could figure out how to get out from under or the other legal minds could really figure it out we would be billionaires, these people who tell you they can make money off of bilking people and not resolving their loans.

No, there is nothing they can really take from you if you have nothing, but for student loans they can garnish up to 15% of your Social Security or Retirement income or they can take your tax refunds for repayment..
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 88662
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
Law Educator, Esq. and 14 other Legal Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it. Lee Michigan
 
 
 

Meet The Experts:

 
 
 
  • Tina

    Lawyer

    Satisfied Customers:

    8436
    JD, BBA Over 25 years legal and business experience.
< Last | Next >
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    8436
    JD, BBA Over 25 years legal and business experience.
  • http://ww2.justanswer.com/uploads/RA/ratioscripta/2012-6-13_2955_foto3.64x64.jpg Ely's Avatar

    Ely

    Counselor at Law

    Satisfied Customers:

    19941
    Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    8189
    25 years of experience helping people like you.
  • http://ww2.justanswer.com/uploads/jespoag/2008-12-17_222355_jessepic.jpg JPEsq's Avatar

    JPEsq

    Attorney

    Satisfied Customers:

    2132
    Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor
  • http://ww2.justanswer.com/uploads/gsenmartin/2008-04-22_214950_me1.jpg Guillermo J. Senmartin, Esq.'s Avatar

    Guillermo J. Senmartin, Esq.

    Attorney

    Satisfied Customers:

    110
    7+ years of experience handling various legal matters.
  • http://ww2.justanswer.com/uploads/PA/PaulmoJD/2013-10-10_195858_JAImage.64x64.jpg Law Educator, Esq.'s Avatar

    Law Educator, Esq.

    Attorney

    Satisfied Customers:

    31621
    JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    15975
    Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.