Rare Repeat Foreclosure Save Encino Homeowner Secures 2% Loan Modification on $4MM Property One Week Before Trustee Sale
ENCINO, CA, UNITED STATES, March 27, 2026 /EINPresswire.com/ -- The Nonprofit Alliance of Consumer Advocates, a federally recognized nonprofit organization dedicated to Homeownership Preservation and Affordable Housing, announced another high-impact foreclosure prevention success—this time involving a rare repeat intervention on a complex investor-owned loan secured by a property located at 5115 Collett Ave in Encino, California, currently valued near $4 million.
The homeowner, Toros Yeranosian, faced a final Trustee Sale scheduled for February 24, 2025, after falling approximately $140,000 behind on a $1.4 million mortgage. With just six days remaining before the scheduled sale, the homeowner re-engaged Nonprofit Alliance of Consumer Advocates seeking urgent assistance.
Nonprofit Alliance of Consumer Advocates immediately submitted a complete loss mitigation package, which successfully triggered a temporary postponement of the foreclosure sale. However, consistent with many investor-owned loan scenarios, the loan servicer ultimately denied the request—highlighting a recurring industry challenge where servicers often lack the authority to approve meaningful modifications without investor-level approval.
This was not the first time the property had faced foreclosure. Following a prior foreclosure sale in 2019—where the property was sold to a third-party highest bidder—the transaction was ultimately rescinded, restoring ownership back to the homeowner.
In that surrounding period, the homeowner engaged the Nonprofit Alliance of Consumer Advocates, where the matter was evaluated and identified as an investor-owned loan. A legal strategy coordinated with Consumer Defense Law Group followed, ultimately resulting in a loan modification with a 4.75% interest rate.
Facing a second foreclosure crisis in 2025 and another servicer denial, Nonprofit Alliance of Consumer Advocates once again referred the homeowner to CDLG, where attorneys immediately filed Civil Case # 25VECV05286 in the Los Angeles Superior Court, directly addressing both the servicer and the underlying investor to force meaningful review and resolution.
As a result of this coordinated intervention, the homeowner was approved for a new loan modification just one week before the rescheduled Trustee Sale—this time securing significantly improved terms, including a starting interest rate of just 2% for five years. The modification reduced the homeowner’s monthly principal and interest payment to approximately $4,353.10, compared to the prior modified payment of $8,260.16 PITI.
“This is exactly why we identify and engage the true owner of the loan early,” said Tony Cara of Consumer Defense Law Group. “When you reach the actual decision-maker in time, you can prevent unnecessary foreclosure damage and create outcomes that simply aren’t possible through the servicer alone.”
“This case reflects the core mission of our organization,” added Joaquin Nolet, Legal Services Director for Nonprofit Alliance of Consumer Advocates “Even in the most complex, repeat-default scenarios, there are still options available when the right strategy, timing, and coordination are in place.”
Nonprofit Alliance of Consumer Advocates continues to provide no-cost foreclosure prevention services nationwide, combining legal coordination, financial restructuring, homeownership retention Real Estate and Private Investor strategies to protect homeownership and promote long-term stability.
The homeowner, Toros Yeranosian, faced a final Trustee Sale scheduled for February 24, 2025, after falling approximately $140,000 behind on a $1.4 million mortgage. With just six days remaining before the scheduled sale, the homeowner re-engaged Nonprofit Alliance of Consumer Advocates seeking urgent assistance.
Nonprofit Alliance of Consumer Advocates immediately submitted a complete loss mitigation package, which successfully triggered a temporary postponement of the foreclosure sale. However, consistent with many investor-owned loan scenarios, the loan servicer ultimately denied the request—highlighting a recurring industry challenge where servicers often lack the authority to approve meaningful modifications without investor-level approval.
This was not the first time the property had faced foreclosure. Following a prior foreclosure sale in 2019—where the property was sold to a third-party highest bidder—the transaction was ultimately rescinded, restoring ownership back to the homeowner.
In that surrounding period, the homeowner engaged the Nonprofit Alliance of Consumer Advocates, where the matter was evaluated and identified as an investor-owned loan. A legal strategy coordinated with Consumer Defense Law Group followed, ultimately resulting in a loan modification with a 4.75% interest rate.
Facing a second foreclosure crisis in 2025 and another servicer denial, Nonprofit Alliance of Consumer Advocates once again referred the homeowner to CDLG, where attorneys immediately filed Civil Case # 25VECV05286 in the Los Angeles Superior Court, directly addressing both the servicer and the underlying investor to force meaningful review and resolution.
As a result of this coordinated intervention, the homeowner was approved for a new loan modification just one week before the rescheduled Trustee Sale—this time securing significantly improved terms, including a starting interest rate of just 2% for five years. The modification reduced the homeowner’s monthly principal and interest payment to approximately $4,353.10, compared to the prior modified payment of $8,260.16 PITI.
“This is exactly why we identify and engage the true owner of the loan early,” said Tony Cara of Consumer Defense Law Group. “When you reach the actual decision-maker in time, you can prevent unnecessary foreclosure damage and create outcomes that simply aren’t possible through the servicer alone.”
“This case reflects the core mission of our organization,” added Joaquin Nolet, Legal Services Director for Nonprofit Alliance of Consumer Advocates “Even in the most complex, repeat-default scenarios, there are still options available when the right strategy, timing, and coordination are in place.”
Nonprofit Alliance of Consumer Advocates continues to provide no-cost foreclosure prevention services nationwide, combining legal coordination, financial restructuring, homeownership retention Real Estate and Private Investor strategies to protect homeownership and promote long-term stability.
J. De La Vega
NonProfit Alliance of Consumer Advocates
+1 855-622-2435
email us here
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