The Feldman Law Center went way beyond my expectations when it came to results. EMC mortgage corp. had us over a barrel and we were sure to lose our home. I think we were real lucky in finding Feldman Law center on line being they are in California and we are in Depoe Bay, Oregon. We were sure to lose our home if it was not for Feldman getting us a $410,000 principal forbearance and my interest ra... ( Read More )
I was interviewing different attorneys for a loan modification when I received a letter from Feldman in the mail. I found them to be real straight shooters and my instinct was good. I had an option arm loan that was at 8.5% and had to make the full payment. I fell way behind and IndyMac would do nothing. They said I did not qualify for a loan modification and I would lose my home to foreclosure if... ( Read More )
I came across Mr. Feldman and the Feldman Law Center back in October after hearing them on AM radio. I was over $17,000 behind on my home loan with Litton when I started and they wouldn’t budge on my interest rate or the delinquent amount. I must admit it took longer than expected (4 months) and after reading up on loan modifications I was pretty scared to say the least. Mr. Feldman really came t... ( Read More )
Posted by: Charles Baker Feb 20,2009
Many home owners are facing rate adjustments this year on purchase and refinance loans they qualified for when banks were offering Stated Income "Liar Loans" to anyone that could fog a mirror.. The problem is in most cases these people can't sell or refinance their home and will be facing serious hardship when these rate adjustments take place. Worse yet, many still have good credit but are soon t... ( Read More )
Posted by: Avoid Foreclosure Feb 19,2009
Real estate markets are slowing. Interest rates are trickling down and the phones are ringing off the hook at Feldman Law Center. Home owners are in a panic and fear not selling their home and the inability to refinance adjustable rate mortgages will cause default or foreclosure. Their only hope may be to modify their existing mortgage with a Mortgage Loan Modification. Unfortunately, mortgage ser... ( Read More )
Posted by: Charles Feb 19,2009
The FDIC's loan-mod plan
Thursday, Aug. 21
Posted 4 p.m. EDT
DON'T GET YOUR HOPES UP: The FDIC's chairman, Sheila Bair, has said all year that mortgage servicers need to do more to help homeowners who have fallen behind on their monthly payments. Now that the FDIC controls IndyMac, an institution that used to be one of the country's biggest mortgage lenders, she has he... ( Read More )
Posted by: Feldman Feb 19,2009
You need mortgage help and have tried refinancing or a loan modification with your lender and both the loan work and refinance have been declined a short sale may be negotiated to avoid foreclosure. We can offer free foreclosure help and explain the foreclosure process. To sell your home in a short sale or offer a deed in lieu may be a solution and may allow you to walk away without a deficiency. ... ( Read More )
If you need help understanding your option of taking advantage of thehome loan modification process, the help is available to you everywhere. The process is quite tricky and it is highly recommended that you do indeed seek legal advice before signing on the dotted line, in order receive the most efficient and cost-effective modification to your mortgage payment.
Where do I get Advice
There is advice all over the web on how to receive a loan modification; some of this advice is quite helpful, while some is quite dreadful. There is also the opportunity to hire a professional service that will help you go through the paperwork and work with the lender to help you get all the benefits that you deserve, due to a hardship.Loan modification is a process that must be understood completely and thoroughly. This article can actually offer you an insight on the process of loan modification and tips that will better help you as a homeowner save your home from the risk of a foreclosure.
Loan Modification Advice
First and foremost, it is important to determine if you are eligible for a loan modification. This requires writing a letter of hardship explaining to the lender what exactly the reason is for your late payments and the fact that you are unable to pay your mortgage. Doing a loan modification on your own requires more than just advice. Becoming educated about the process is more important. This is perhaps a good reason to hire a professional loan modification company to take part in the process. They will handle everything for you, while educating you in the progression. There is a fee charged for hiring these companies, but in turn your mortgage payment can be lowered quite a bit and professionals can even find things in your original loan papers that may prove that the lender may have broken the law during your original mortgage signing.
If you do choose to take the big leap of the loan modification process on your own, you must first contact the lender and they will lead you to the correct department, normally the loss mitigation department. You may not want to directly say that you are in the process foreclosure. We do not want the lender to think your situation is not worth their time before hearing you out. Always document anything relating to the loan modification process, every phone call and any other information you may receive during the process must be documented. Always discuss every option available with your lender, so that you may come up with the best alternative for you. It is true you will save money going directly through your lender and let’s face it, you are struggling already trying to make your payments, but professional assistance can help immensely.
No matter what direction you decide to take, loan modificationwill be what determines the amount of time you have in your home. If you are eligible you should act as soon as possible.
