3 Reasons You Should Speak to a Loan Modification Attorney

Save Your Home From Foreclosure!

Did you ever consider that perhaps you should speak to a loan modification attorney? That very same thought has occurred to lots of homeowners falling behind on mortgage payments. Some have actually tried it successfully. Some never did anything and lost their homes to foreclosure.

Wait a second and let's slow down a bit let's explore that a little. Here are 3 reasons why you should get in touch with a loan modification attorney, for you to consider.

First off, in its favor, allow me to point out that having a legal professional deal with your lender to negotiate changes to make your mortgage more affordable can save your property from going into foreclosure. Sure, I recognize the objection that if you cannot pay your mortgage on time how can you afford to pay an attorney to help reduce your payments? That really sounds like a dilemma, however it will actually save your home, your credit rating and more money in the future.

Secondly, you truly should consider that a loan modification attorney knows the laws and will be using their knowledge and experience to make the lender modify your loan. And, in addition to that, your lawyer will examine your original loan documents with a fine tooth comb to find if there are any violations by your broker or by your lender. Plus, better yet, in majority cases violations are found in Real Estate Settlement Procedures Act, Truth-In-Lending Act, and in some cases, egregious Article 32 Predatory Lending violations.

Third, when your attorney provides these facts on your behalf the lender will not ignore these legal issues. Which means that the lender will be more than set to modify your mortgage because they know that loans with illegal terms or conditions are not enforceable. And in addition to that, you will have peace of mind with no worries of losing your home!

Once you think about the reasons and evaluate them, I expect you will probably have to admit that a compelling case can be made for why you should get in touch with a loan modification attorney.

Think it over. What will you gain if you actually speak to a loan modification attorney right now?

As many as 6 million families are expected to face foreclosure in the next several years. Contact the Law Offices of Janian and Associates for a free consultation with an experienced loan modification attorney.

Home Affordable Modification Program

Under the Home Affordable Modification Program (HAMP) mortgage lenders were told to accelerate the review process for loan modifications. Apparently, the applications submitted by struggling homeowners were not being processed in a timely enough manner. It seems these applications were just sitting collecting dust while the threat of foreclosure loomed.

According to the Home Affordable Modification Program:

Mortgage lenders need to send confirmation in writing that they received your loan modification request.

Mortgage lenders need to approve or reject your loan modification request within 30 days of receiving your application.

If a mortgage lender denies your application, they have to offer another option to help you avoid the foreclosure process.

Now with the Home Affordable Modification Program obtaining support with loan modification is much easier. The wait time is much faster.

However, some homeowners have experienced the opposite. There have been situations in which homeowners actually qualified for loan modification but the mortgage lenders took too long to look at the applications. In these cases the homes went into foreclosure because the applications were not approved in time to stop foreclosure.

Many other home owners have reported that their banks are not offering any type of loan modification assistance at all.

An experienced loan modification attorney at law is the best resource if you are facing foreclosure. Most will provide you with a free consultation and inform you about your rights and best options. You need a professional that is familiar with the laws and able to negotiate on your behalf.

A qualified legal expert will guide you through the entire process and help you get your loan modification approved.

How To Stop Foreclosure With A Forensic Loan Audit

Before you closed on your mortgage for your home did you ask any of the following questions:
Do we have all the paperwork?

Are these "good faith" estimates good?

Are the payment representations accurate?

How do we know that the broker isn't double-dipping?

Why isn't there any documentation of income?

Chances are not one of these questions even crossed your mind. Most people are so excited when purchasing their home they simply walk into the closing believing that the documents they sign are in compliance with current laws. However, in many cases one or more laws are violated connected to Real Estate Settlement Procedures Act (RSPA), Truth-In-Lending Act (TILA), and Article 32 Predatory Lending. The unsuspecting homeowner has no idea that these violations even exist. For the homeowner facing possible foreclosure finding out if any laws were violated when your mortgage was originated could mean the difference between losing and saving your home.

Loans with illegalities are not enforceable.

Foreclosures resulting from loans with infractions are also not enforceable.

A Forensic Loan Audit is a thorough investigative report used to detect infractions and violations that may or may not have been performed by the mortgage lender or broker when they originally funded a loan. Loan audits are often used in the loan modification process as leverage in the negotiation process. This report is essential because it underlines laws that were broken, if any, by mortgage lender or broker.

An attorney can press your mortgage lender to take action on your case in your favor, and a forensic loan audit can help to successfully modify your mortgage.

Most sensible mortgage lenders will choose loan modification when presented with the legal facts.

For the best mortgage modification service in the country contact janian and associates for a free consultation.

Loan Modification Attorney to the Rescue

Are you facing a financial crisis? Wondering when the economy is going to get better? Are you having sleepless nights worried about whether or not your home is going to be taking away from you, because you are lagging in your mortgage payments?

Life is so unpredictable, today you maybe just perfectly fine. But tomorrow you might lose your job or some unforeseen event may change your life forever.  This is how and when a Loan Modification Attorney can help save the day!

What is loan modification?
A loan modification is a restructuring of the terms of your current mortgage to make your payments more affordable.

What is a loan modification attorney and what do they do?
A loan modification attorney is lawyer who practices in real estate transactions, mortgage negotiations, and aspects related to mortgages.

Some people do not like or think it is vital to hire an attorney to do their loan modification and they think that they can do it themselves; and truth is maybe they can. But the advantage with hiring an attorney is they know the laws and are far more experienced and savvy than the average homeowner when it comes to working with lenders.

Why do you need a loan modification attorney?
With the aid of a loan modification attorney, you can prevent foreclosure and keep your home.

You need a loan modification attorney to help you through the restructuring process smoothly.

Your lawyer will thoroughly review your case and will do everything from legal perspective to help you. There are many organizations out there offering similar services. However, experienced lawyers are the ones who usually get the best results. They can competently talk to your lenders and your lenders will be more cooperative because your attorney uses the law as leverage during negotiations.

Loan Modification

As the home market fluctuates there are many topics that homeowners must review in relation to their future.   No individual wants to lose their home but the search for solutions to stop foreclosure seem to be limited.   

Some families are forced to abandon their home while other families are relying on age appropriate individuals to find work and in many cases work more than one job.   The home market struggle is being faced by every individual and the threat of foreclosure is very real.   

A method available to help stop foreclosure and protect your family is to find a home loan modification.   There are a great deal of benefits when working with a company that offers home loan modification and the following covers only a few of those benefits.

When a person seeks a home loan modification there are many topics that may relate to the decision they make.   They could be seeking to stop foreclosure and protect their home.   A job loss or reduced income may require an individual to find a way to reduce their family's monthly expenses beginning with the mortgage.   Concerns may be drawn by the fact that the reduced housing market has now made what is owed on the mortgage to be more then the value of the home.   

Regardless of an individual’s reasoning the overall theme in these topics is that the bills are getting higher and the person is seeking a reduction in monthly expenses, specifically the mortgage payment.   A home loan modification can assist in all of these topics, including how to stop foreclosure.   The home loan modification process will access your current condition including income, current home value, and remaining amount on your current home loan.   

The result of the home loan modification often can reduce your monthly mortgage payment and save you money in the long run while representing your answer to stop foreclosure.

Any reduction related to the monthly expenses of a family is very helpful in this market, especially when that reduction is related to your home.   There are other advantages associated with obtaining a home loan modification.   

In addition to the reduction in your monthly mortgage payment, a home loan modification often offers a reduced interest rate for the amount you owe in comparison to your previous mortgage.   A reduction in interest may not show in your current mortgage payments but it will reflect on the total dollar amount you owe on your mortgage and the time frame it is to be paid.   The reduction will benefit your family in the long run, putting you closer to the ability to own your home and be free from a banking institution.

Finding a way to reduce your monthly expenses represents a great financial opportunity in regards to the short term.   Finding a way to reduce the total mortgage balance on your home is a great financial solution for individuals in regards to the short term.    However, many upon receiving a home loan modification overlook the immediate results.   

The greatest advantage of achieving modification is with finding a way to protect your family’s home and stop foreclosure.   The loss of a home can be devastating to a family and it is important to recognize that you are taking steps to protect your home and your family.

Stop Foreclosure

The recession has caused high unemployment rates, hard working people striving to maintain the "American Dream" are currently faced with the probability of losing their home. 

According to estimates, 1 out of every 200 homes will be foreclosed on. With every passing day a person some where is seeking plausible solutions to save their home. 

When it comes to foreclosure, one of the major error that people make is failing to openly discuss with their lender about their circumstance. Sadly, homeowners often wait too late to try to negotiate a deal to save their home. The smart thing to do is to inquire to see if there are options available.

Fortunately, there are several different ways to actually stopstop foreclosure from taking place. Here is a fact, lenders are not in the business of taking anyone's home. It is important to recognize and understand that lenders do not want homes to go into foreclosure. Lenders are in the business of lending money and therefore would choose to have mortgage loans paid. As such, most lenders are more than willing to work with homeowners to figure out a repayment plan to keep people in their homes if and when possible.

If you are facing foreclosure you may be able to:

   1. Reduce Your Monthly Mortgage Payments

   2. Get Your Loan Modified

   3. Short Sale Your Property

   4. DeferDefer Your Mortgage Payment 

The above mentioned are just a few options that may be possible, check with your lender and/or seek legal assistance from a loan modification attorney to try to work something out to prevent foreclosure. Some people assume that it will cost them nothing to just give up their home and let it go into foreclosure. The truth is foreclosure will involve money and will negatively affect your credit. Is it worth it? No. Avoid Foreclosure.

Obama's Loan Modification Plan

Obama's Loan Modification Plan is aimed at assisting homeowners refinance or modify their loans for more affordable mortgage payments.

The unfortunate aspect is a large portion of the funds go to the banks and they're not obligated to heed. Only individuals who are not behind on their mortgage account and whose loans are with Fannie Mae and Freddie Mac are eligible for Obama's Loan Modification Plan. The plan is leaving millions of U.S. homeowners in danger of facing foreclosure defenseless & out of the plan.

Here are a few general customary criteria for basic eligibility for this program:

1. The home must be your primary residence

2. Cannot be used for second mortgages

3. Prove Income

4. Your current home loan must equate to 31% or more of your gross monthly income

As many as 6 million families are projected to experience foreclosure in the next couple of years.

The bleak and quick drop in the economy and in the housing market has caused overwhelming repercussions for homeowners throughout the the United States . Millions of steadfast families who pay their monthly mortgage payments on schedule have had the value of their property fall and under the circumstances are now incapable to refinance to lower mortgage rates. Meanwhile, millions of workers in the United States are having a hard time staying current on their mortgage payments after having their hours cut or being terminated. In the last 14 months alone five million plus jobs have been eradicated and millions of hard working families are now applying more than 40 or 50 percent of their income towards their monthly mortgage payment.

How To Modify A Loan
When a loan modification application is presented by a homeowner, it is carefully analyzed to decide the profitability to the investor or the possibility of loss. The "Net Present Value Test" is used to decide what will provide more cash flow to the investor-Foreclosure or Modification. The homeowner's best interest is not part of the decision making process. It is completely based on what is more financially rewarding to the investor. If modification is not in the best interest of the investor, they will deny your application.

For this reason legal assistance is available to homeowners.
For more information regarding Home Loan Modification Please call Janian and Associates at 877-369-4529 or visit: www.JaninAndAssociates.com