If you’re a homeowner facing foreclosure you need two things, information on what to do next and a professional who can help you do it.  California home loan modification attorneys are skilled at helping people stay in their homes, even those in dire financial straits.  For a variety of reasons, homeowners usually have little or no access to the kinds of information that will help them stay in their homes.  Educational information regarding loan modifications, foreclosures and California lending laws aren’t as accessible as they should be.  There are more people facing foreclosure today than at any time in recent history, and yet few outlets are available for help.

At the Feldman Law Center, our loan modification specialists are trained to not only help you through your loan modification, but educate you as well.  For example, if you receive a foreclosure letter in the mail, do you know what you should do next?  The answer is – become acquainted with the legal procedures.  You can do this by reading up on the subject (which will take some time) or contact a loan modification attorney who can easily walk you through the process. 

Working with the lender to examine the mortgage contract is another important step, but unfortunately most people rarely go through with it.  This mortgage contract is possibly one of the most important factors in any foreclosure proceeding and loan modification process.  This contract sets forth the terms and statutes by which the mortgage is governed, and will also impact how the loan modification takes place.  In fact, what many lenders are discovering is that some lenders have completely lost their mortgage contracts.  Without these contracts, some lenders have completely lost their leverage in foreclosure proceedings. 

Another area where a loan modification attorney can help you defend against foreclosure is making the case of hardship for you.  In order to get a loan modification, you must prove that you are in financial hardship, which requires three or four months’ worth of paperwork, bank statements, pay stubs and more.  Organizing this by yourself can be a real challenge, but a loan modification attorney can help you get organized, get your stuff together and put it into a format that is presentable to a lender.  Proving you are in a hardship situation can help you avoid foreclosure, and possibly bankruptcy and a short sale as well.  Options such as these don’t bode well for you, and all three will probably leave you without a home.  Being homeless is a scary concept, but it’s something people face if they can’t get a California loan modification.

Overall, the foreclosure process is a scary one.  People usually find themselves between a rock and a hard place when they stair at their bills on one hand and their mortgage on the other.  A California home loan modification could be the answer though to defending against foreclosure, and a home loan modification attorney could be the gatekeeper to keeping yourself and your family in your home.