Experienced Mortgage Modification Attorney: How They Can Help You Save Your Home

If you're facing financial difficulties and struggling to make your mortgage payments, you may be at risk of losing your home. Fortunately, there are options available to help you keep your home and get back on track financially. One such option is mortgage modification, and an experienced mortgage modification attorney can help you navigate the process.

What is Mortgage Modification?

Mortgage modification is the process of changing the terms of your mortgage loan to make it more affordable for you. This can involve lowering your interest rate, extending the term of your loan, or changing the type of loan you have. The goal of mortgage modification is to help you avoid foreclosure and keep your home.

How an Experienced Mortgage Modification Attorney Can Help

While it's possible to apply for a mortgage modification on your own, the process can be complex and confusing. An experienced mortgage modification attorney can help guide you through the process, ensuring that you have the best chance of success. They can also help you understand your options and negotiate with your lender on your behalf.

In addition, an experienced mortgage modification attorney can help you understand your rights as a homeowner. For example, under the Homeowner Bill of Rights, lenders are required to work with homeowners in good faith to find alternatives to foreclosure. A knowledgeable attorney can help you assert your rights and ensure that your lender is acting in accordance with the law.

Legal Citations for Mortgage Modification

There are several laws and regulations that govern the mortgage modification process. Some of the most important include:

• Homeowner Bill of Rights (California Civil Code §2920.5 et seq.): This law requires lenders to work with homeowners to find alternatives to foreclosure and prohibits dual tracking (the practice of pursuing foreclosure while simultaneously considering a loan modification).
• Making Home Affordable Program: This federal program provides incentives to lenders to modify mortgages for struggling homeowners.
• Dodd-Frank Wall Street Reform and Consumer Protection Act: This law includes provisions aimed at preventing predatory lending practices and helping homeowners avoid foreclosure.

External Resources

If you're considering mortgage modification, there are a number of resources available to help you. One useful resource is the U.S. Department of Housing and Urban Development (HUD) website, which provides information about mortgage modification programs and resources for homeowners facing foreclosure. You can also consult with an experienced mortgage modification attorney to discuss your options and get personalized guidance.

Conclusion

An experienced mortgage modification attorney can be a valuable ally in helping you save your home. They can help you understand your options, navigate the complex mortgage modification process, and negotiate with your lender on your behalf. If you're struggling to make your mortgage payments, don't hesitate to seek out the help of an experienced attorney.