Feldman Law Center
Applying for a loan modification might sound easy. Filling out some forms, signing some documents and including your past tax returns really does not sound all that complicated. However, what many homeowners are discovering is that the loan modification process is not only complex, but time consuming and often frustrating.
One woman contacted Wells Fargo trying to get a loan modification because her home was at risk of foreclosure. After she contacted Wells Fargo, they asked her for multiple forms and pieces of paperwork which included income taxes, bank statements and other bits of financial information. In fact, she was turned down twice before actually getting through to the proper person at Wells Fargo just in time to save her home. After getting her loan modification, she had her interest rate adjusted from 9.75 percent down to just 5 percent, which saves her $250 per month on her mortgage payment.
Unfortunately for many homeowners, they do not have enough time to be turned down twice by the bank. So many borrowers are up against a wall, with foreclosure papers showing up, bills piling up and their lives seemingly in financial ruin. In cases such as this, a borrower does not have the luxury of time. Fortunately, there are ways to get better results much quicker.
An experienced California loan modification attorney will understand the loan modification process, as well as how to get a quicker response from mortgage service companies. Dealing with banks as large as Wells Fargo is immensely difficult, and trying to handle all of the communication and preparation on your own will be an uphill battle. Many statistics and polls show that most loan modification applications which fail usually lack the proper amount of information, or accurate information. This means that the individuals filling out the forms are not experienced enough to know what should and should not be included in the forms. A California loan modification attorney who has experience with the process can help locate exactly what information is needed.
An attorney can also help get a quicker response from the banks by using the law as an ally. For example, if a borrower calls a bank, they will be treated as one of millions of other borrowers. An attorney gets a different response because businesses respond much quicker when the law is brought into play. Banks understand that a lawyer can take them to court, and so they respond much quicker than they would to a non-lawyer. An experienced California loan modification attorney will also know who to call at a given bank, most likely because they have called that person a number of times before.
If you are a homeowner who is facing foreclosure, or who simply wants more information on how to get a loan modification, you should contact an experienced and successful loan modification attorney. At the Feldman Law Center, our California loan modification attorney team has helped countless people get the results they needed to stay in their homes and enjoy a safe financial future.
Visit us at http://www.feldmanlawcenter.com or call 800-588-0425.
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 law 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.