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Helping People on the Fringes

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Despite the Obama administration’s best efforts to alleviate the strain of the financial crisis, many borrowers in America are still finding it difficult or impossible to modify the terms of their loans.  On September 24, 2009, a congressional panel met in Washington D.C. to determine the effectiveness of homeowner-rescue programs so far, and the results were mixed.  While they approved of the president’s progress in getting his Making Home Affordable modification plan running, many attendees questioned the wisdom of giving $75 million to mortgage servicers and other financial institutions while homeowners are still struggling to refinance their loans or even get a response from these financial institutions.  

Countless borrowers in need of loan modification claim that their banks and mortgage servicers are often unresponsive to their requests and unwilling to help them.  For instance: one man protesting outside the congressional oversight panel told how his lender had agreed to a loan modification and then, without warning, had withdrawn the offer.  Stories like this are all too common since the financial crisis began; and, as a greater number of borrowers request loan modifications, more and more of their requests are lost in the shuffle of bank paperwork and government programs.

Even advocates from non-profit organizations have stated that banks and mortgage servicers remain “difficult to work with.”  Homeowners attempting to complete the loan modification on their own often have extreme difficulty communicating with lenders who are either too busy with paperwork and other requests or are simply uninterested in resolving the borrowers’ problems.  For many of these homeowners, a loan modification attorney can help turn the tide of the financial crisis and get the quick results that can avoid foreclosure.

A skilled  loan modification attorney can make sure your financial needs do not fall through the cracks.  While you could potentially spend hours on the phone being shuffled from extension to extension, an experienced loan modification attorney will know who to contact and when to call to achieve the best possible results for your family’s future.  They will also provide invaluable assistance with the often-confusing bank and government paperwork, making sure that everything is done right the first time and minimizing the chances that your loan modification will be denied due to missing, incomplete or incorrect paperwork.

Dealing with mortgage servicers is a frustrating, complicated process that can leave borrowers feeling like their voices are unheard.  For many borrowers, the consequences of being lost or overlooked can be foreclosure and loss of their way of life.  If you feel like no one is looking out for you, A  loan modification attorney may be able to help. They can ensure that you are not ignored, and may be able to provide you with the help you need to achieve a favorable loan modification and ride out this financial crisis in the security of your home.  A loan modification can lower your interest rate, get you a principal reduction, eliminate late fees and much more.  All of this is geared towards lowering your monthly mortgage payments.  

Legal Disclaimer

The information contained herein is provided for general information and advertising purposes only and is not intended to convey a legal option nor legal advice for any particular case or situation. Nothing in this article shall create an attorney-client relationship. Nothing sent to this office via e-mail shall constitute an attorney-client relationship. Nothing contained in this article shall be construed to be a guarantee or prediction of result. Prior results are provided for general information purposes only and do not guaranty, warranty or predict a similar outcome with respect to any future matter.   Results achieved depend on individual circumstances and not everyone will qualify or be successful in restructuring their mortgage loan.

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