Fannie Mae and Freddie Mac have not lowered loan balances on their loan modifications. They have instead lowered interest rates and extended loan terms. But with the government’s new guidelines and pressure on loan servicers to lower principal balances on underwater loans, Freddie and Fannie may have to follow the government’s guidelines. Freddie [...]
Abandoning your home and deciding to just walk away from your mortgage has repercussions. You may be responsible for a deficiency created between the sale price of your home at the foreclosure auction and the amount you owed your lender on your mortgage. This is known as a deficiency judgment. Your lender may be [...]
A home is a person’s most valuable asset. It only makes sense that you would want to protect your asset. If you are falling behind in your mortgage payments or facing foreclosure, a loan modification attorney can protect your interests and help you stop foreclosure through loss mitigation. Loss mitigation is a process [...]
American Residential Law Group
There are many errors and violations made by lenders with regard to mortgage documents. In fact, it is extremely common to find violations that lenders have made in connection with TILA, RESPA and HOEPA laws. Most loans have some violations. If you are behind in your mortgage payments, you may [...]
HAMP Updates
The Obama Home Affordable Modification Program (HAMP) has been helping troubled homeowners with obtaining a mortgage modification or refinancing their home. As of June 1, 2010, loan servicers may not foreclose until a borrower has been evaluated for HAMP and it has been determined that they are ineligible under the program. Borrowers who [...]
Before you give the keys to your home back to your lender, you may want to consult with a real estate foreclosure defense attorney. Real estate foreclosure defense attorneys have been successfully helping millions of homeowners save their homes from foreclosure by negotiating mortgage modifications, short sales, deeds in lieu, forbearances and finding other solutions [...]
No matter what situation you can think up, it almost always comes down to the eternal conflict of time versus money. Do you want to spend your own time doing something, and spend less money, or would you like to spend more money to have someone else do most of the work for you? Another [...]
Why Use an Attorney to Negotiate A Mortgage Modification?
The answer is simple. The attorney is skilled and experienced at negotiating a home loan modification. Also, the attorney can review your mortgage documents by preparing a forensic loan audit to determine if the lender committed any predatory loan practices at the time they made your loan [...]
The Home Affordable Modification Program (HAMP) is the government’s program to assist distressed homeowners who want to keep their homes with a mortgage modification. If you are in default on your primary residence, you may qualify for a mortgage modification under the Program. The HAMP program is completely voluntary and both you and your lender [...]
A loan modification attorney can be of great assistance if you need to obtain a home loan modification. An attorney that specializes in loan modifications will be able to expedite your loan modification application and negotiate with your lender. You could try and do it on your own, but unless you know the process [...]
