Cheryl P. Jacobs Named Philadelphia VIP Volunteer of the Month
Friday, October 03, 2008
- Organization: Philadelphia VIP
- Link: http://www.phillyvip.org
Philadelphia VIP recognizes Cheryl P. Jacobs, an associate of Kline & Specter, P.C. as its October 2008 Volunteer of the Month for her outstanding volunteer assistance to VIP clients.
Cheryl Jacobs successfully assisted a VIP client in her fight to stay in her home. The client was a victim of predatory lending 10 years ago, when she applied for a loan to cover much needed repairs in her home. However, the client unknowingly signed a $7,500 mortgage agreement.
The mortgage was bought and sold by various lenders over the years. Due to fees and costs, the amount of the mortgage ballooned to an astounding $28,000, which the client couldn't pay based on her limited income. As a result, her house was scheduled for foreclosure.
Through the tenacious advocacy of volunteer attorney Cheryl Jacobs, the mortgage company first reduced the value of the debt to $9,000 and has now agreed to satisfy the loan entirely. Thanks to Ms. Jacobs' hard work, the client is able to stay in her home.
