Loan modification lawyers:

adonis · Posted: Mon Dec 22, 2008 11:52 pm Post subject:

Welcome living upsidedown,

A short sale comes into picture when you are past due on your payments. This is a step which borrowers take in order to avoid foreclosure. In this process, the borrowers give away their property to the lender who sells it in the market in order to recover the debts.

There are chances that the property will be sold at a lower amount. So there remains a deficient amount which the buyer needs to pay to the lender.

A short sale affects a borrowers credit score and lowers it by 75-100 points. To know more about short sale, check out the following link:
http://www.mortgagefit.com/discuss/shortsale-crediteffect.html

Guest

I live in new mexico I need some real help saving my home fast that does not cost me

a arm and a leg to get it done so if you will me email me some more

info on how fast an behind 15 moths due to me get hurt at work i get disability

now in the amount of $3200 but my house repayment plan payment is $2200

each month time I pay all the other bills an in the hole again so please

tell me how you can help

jameshogg · Posted: Mon Jan 12, 2009 11:22 pm Post subject:

Hi hk,

As far as I can understand your question, you are facing problems in paying the mortgage payments. You should immediately speak to the lender and inform him about your hardship. Check out if you can get the option of forbearance from him. In this process, your payments will be suspended or reduced for few months and then you will be given a repayment plan through which you will be able to pay off the dues.

In case, if you can afford to sell off the property, you can check out the options of either short sale or a deed in lieu with the lender. But you should remember that the lender will accept these options only if you are delinquent on payments.

Thanks

Guest

I too have a bad loan and am paying 30K a year and am sitting in 2 lonas combined @ 531K, in a house worth less thank $275 market.. so I hired a lawyer, who promised a $2000 refund for my $2500 retainer if they were unable to obtain a loan modification. They ended up calling my 1st mortgage company and working out a repayment plan extension from 12 mo to 40 mo and suggested a Chptr 13BK to get rid of my second as unsecured debt. However, I was looking for a mod that would reduce or eliminate my second as well as reduce principal or interest to bring to market value payments on my 1st.. after the lawyer said he could only work out payment extensions, I decided short sell was my best bet (as I will just go rent a house for the time being) and now, because they said they had worked out an extension w my 1st mortgage to repay my back payments over more time, that constitues a completion of their end of the deal by "obtaining a loan modification"... That is a repayment of debt plan, not settlement of debt, which is what I clearly was hoping to obtain w negotiation and modification. Now, they are saying there is no refunds because they did fulfill their agreement in extending payment terms on my 1st loan.. and I am SOL, go take me to small claims court kind of attitude...Which I intend to do, but I am first going to the firm owner to see if they care if I post their terrible practices online as much as I can! Wish me luck in getting my money back..
good luck.

jerry · Posted: Sat Jan 17, 2009 1:56 am Post subject:

Hi Bryan,

In a loan modification, the lender does not reduces the principal balance neither does he eliminates your debts. In a loan modification, the lender gives you a new repayment plan through which you will be able to pay off the debts. To know more about loan modification, check out the following link:
http://www.mortgagefit.com/know-how/loan-modification.html

Thanks

Guest

A couple of weeks ago I say a post about an on-line site to find the actual holder of my mortgage. But now I am unable to find it. Can anyone assist? I am serviced by Wilshire Credit and believe that Merrill Lynch held my mortage. I want to do a loan modification. Any suggestions?

I am curious what the affect of Bank of America buying Merrill and Wilshire will do to this unscroupluous servicer.

Caron · Posted: Sun Feb 08, 2009 5:08 am Post subject:

Hi,

If you wish to do a loan modification, contact your current loan servicer. Regarding the post that you made, you need to give further details, so that the moderators here can find it for you.

Good luck

Guest

hollyjova, or anyone else?? i am looking for modifiers right now, obama is only helping fannie mae peeps, so sad,, but figures go acorn!!!
any way im upside down over 200.000 dollars ,, i dont know who to trust with so many,, any suggestions??

Guest

Hi jodi,

There are quite a number of lenders who participate in this forum. You discuss the matter with them. I'm sure they will be able to help you.

gmakerley · Posted: Mon Mar 09, 2009 12:07 pm Post subject:

jodi, please go to the hud website, at "hud.gov" and you'll see on their main page a link to "guide to avoiding foreclosure." when you click on that, the next page allows you to "talk to a foreclosure counselor." click on that and you'll be able to go to your specific state and find non-profit agencies (like the urban league) that will assist you.

you can certainly speak with your lender directly, but if you feel the need for an advocate, one of these agencies (all approved by hud) will be happy to assist you.

getconrolofyourbills · Joined: 04 Nov 2009 Posts: 7 Location: USA 2.56 Dollars($)

Hi, I represent a company who offers help with mortgage modification and debt setllement.

Here is why you may want to contact me:

1. You will get a free screening to see if we can help.
2. You will get a free consult with an attorney.
3. If you decide to move forward, you will be assigned your own attorney with which you have a contract with and who will personally work your case - we are not an attorney backed company where the real decisions on your case are handled by a person who may not have your best interest at heart.
4. No fees are collected until YOU have wieghed the options presented to you. The fee is a flat fee paid to the attorney, not some other group.

Feel free to contact me at getcontrolofyourbills AT gmail DOT com: spelled out to stop the bots. Thank you, Frank.

getconrolofyourbills · Joined: 04 Nov 2009 Posts: 7 Location: USA 2.56 Dollars($)

My company also offers shortsale and foreclosure service as an option if needed.

Again, you can email me and I will provide more details to get you started on your free screening and consultation.

Thanks, Frank

gmakerley · Posted: Wed Nov 04, 2009 1:05 pm Post subject:

sorry, frank, this is precisely the kind of arrangement i have railed about on other posts. you mentioned that there is no fee until YOU have wieghed the options presented to you.

you don't say what that fee is, but it doesn't really matter, after all. the charging of a fee upfront, before any work is really done on behalf of a client should start the bells a-clanging in the client's head. if you have to pay upfront for service, then what is the motivation for the lawyer or anyone else to work on a client's behalf?

oh yeah...i know the answer to that, don't i?! the answer is an unqualified "NO MOTIVATION."

beware, american public, of things such as described here.

now, frank, i am not saying that you are one of the worst offenders here, nor an offender at all. i am skeptical of what you offer, however, and that skepticism causes me to warn all who might try dealing with you to be sure they know what they're getting into. this is dangerous ground, after all. people are spending thousands of dollars with no favorable results and end up losing homes that they could have salvaged.

sorry for my diatribe, but i'm sick to death of seeing these things continue.

getconrolofyourbills · Joined: 04 Nov 2009 Posts: 7 Location: USA 2.56 Dollars($)

Thanks George for your comments. You are free to have your opinion and I mine.

I have had dealings with attorneys and I don't know one who starts work without a retainer. In fact most charge by the hour and want a substantial amount upfront; my tax attorney works on a $1,000 retainer and @225 per hour and I pay as I go, never knowing what the bill will be. I’d prefer a flat fee upfront, myself.

I think there are some misunderstanding here.

1. I do not set the fees, the attorney does. The typical fee is around $3,500.
2. The case is fully reviewed to determine if it has merit. If no merit, then no action and no bill.
3. The available options are laid out for the client to consider AFTER the case has been fully reviewed at no cost to the client.
4. If the client wants to proceed, then a fee is paid to the attorney.
5. The attorney is motivated by ethics laws, violations of which gets them disbarred; in my personal opinion, an attorney won’t last long if he/she advises a client on a course of action that has no realistic chance of success and/or does not diligently work on the case that they collected a fee for.

It is common sense, when a contract with an attorney is signed, the attorney must represent the client ethically. I would not hire a doctor to take care of legal problems nor a carpenter to fix my car – in the same vein, I would not pay any money to a company that promises to fix my debt problems that might have an attorney in the office somewhere, but I would hire an attorney to work directly on my behalf as then I have a contract with them that binds them to do their best on my behalf.

Anyone who would like to contact me will be given full details as well as a do-it-yourself packet that they can use at no charge to work it out themselves, if they like.

Thanks

gmakerley · Posted: Thu Nov 05, 2009 9:24 am Post subject:

thanks for the civil response. it's nice to see someone come back in that fashion - happens all too seldom. i guess we'll agree to disagree.

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