anybody know a good loan modification attorney that is not a scammer?
Question by Jose I: anybody know a great loan modification attorney that is not a scammer?
hi, i reside in ca and am seven months past due on my mortgage…i presently know i qualify for a house modification but will they approve me…i needed to hire a ligit lawyer to support me via the proces and i have spoken to many more than the previous week but even now i am confused who to trust…also has everyone heard of a rest report or the loan aid mod center..thanks
also…i have ben in default starting up 9/27/2011
i owe the bank much more than seven,000 dollars…my payment is 1,127.00 a month …i asked them if i can at least send them october 1st payment and they stated they will not accept any cash from me until finally i shell out the default amount, i tryd to tell them if i had five,000 would they accept that, they said no the only cash they will accept is the entire default volume ..so now the amount i owe them is just going to keep raising right up until it forecloses..i am thinking about bankruptcy if my mod is denied
sorry i also did not note that i do not live in the property at present…it was our rental home…we are at the moment in the approach of evicting the tenant for non payment of rent, we were two months behind on the rent when she moved in but we were not worried about it at the time…she payed her rent fine for a year then she stopped, we began eviction when she was 2 months behind in rent and we are even now in the eviction approach..the good point is we received a default judgment on her this month and my attorney is promising us we will have her locked out of the home by the 15th….i was not ready to spend the mortgage loan payment since i presently am renting and i was making use of my funds to make confident i had a roof more than my head, the second she stoped having to pay the rent on our property we asked her to move out so we could move in and take more than the payments right up until we found a Decent renter but she refused..for some explanation she would seem to think it is HER residence now and has fought us all the way…but we do
Very best answer:
Answer by Huntsman
There are federal regulations in location that if you can qualify for a re-finance that your mortgage loan lender has to qualify you.
If you qualify and they deny you, you google HOPEnow.org
Or google HUD – Creating Property Cost-effective System
Know far better? Leave your own answer in the comments!
@JewishBrides Forensic loan audit + loan modification lawyer = approved home loan loan modification. http://t.co/WcYpwqn5 – by IanSisler (Ian Sisler)
Comments (3)
I think you might need to step back and review the law a little more carefully.
In general, you do not have a right to a loan modification. If you are in default, the bank can offer you a mod if they think you can afford it. And, many banks are being pressured into offering mods even if they don’t think you can afford it. But, there is no law that requires the bank to offer anyone a modification…ever.
A lawyer might be able to help you if your bank has violated some other aspect of the mortgage process…but not with mods.
Update: You should contact a BK attorney asap. Also contact any approved housing programs as mentioned above. Before you consider Chapter 13, you really need to take an honest look at your finances and ask yourself if you can really afford this house.
————
Just a few comments: Attorneys are not cheap and you will be looking at paying $ 150 – $ 300 per hour…which can add up fast. Note sure what your mortgage payment is, but maybe that money might be better spent paying your past due amounts.
- I agree with the poster above…I don’t believe that any attorney can force a loan modification on your current (or any other) lender….Well, actually there is one way to do this: it’s filing for Chapter 13 bankruptcy. Chapter 13 can be used to save a home from foreclosure. It does not discharge the debt. It’s a form of BK where you pay back your debts under a court supervised repayment plan. Chapter 13 will not solve the problem if the real issue is a lack of income/cash flow to pay for and maintain the house.
- Be VERY careful…there are many amoral predators out there who will swoop in like vultures to take your last dollar…who will promise that they can do a modification then they’ll disappear once they get your money.
A loan modification when you are already 7 month behind in making your regular mortgage payment?
Not going to happen. Simply because you can’t afford it as it is. You ask for a loan modification while you are still making regular payments and you make those payments until the bank tells you that you have been approved and after that you make regular mortgage payments at the new lower amount. Under no circumstances ever should you have fallen behind.
The banks are not legally required to modify your loan. Especially not when you can’t afford this to begin with. Don’t waste your money on a lawyer that can not do anything to force your lender into this loan modification. You don’t have the money for the mod and you don’t have the money for the lawyer… you don’t even have the money to pay up your outstanding mortgage payments.
Listen to CatDad and talk to a bankruptcy lawyer about a chapter 13… so that you at least have a chance to keep the house and not get foreclosed on.