Posted on: 03rd Nov, 2008 04:14 pm
I tried to get a loan modification by myself with no luck. In fact my lender is just giivng me the run around and I am tired of it.
I have been searching all day for solutions to my problem and have decided that maybe somebody who knows how to deal with my situation professionally may be the right answer. The people I am dealing with at my mortgage company are ruthless...and I am nice. I just can't continue to pay my lender $30,000 a year in interest alone to stay in my home. I need someone who can talk with them for me on their level.
So I have found several loan modification lawyers on-line. The question is which ones can I trust not to take further advantage of my desperate situation?
Most of them want money up front and say if they can't do it they refund you a portion of your money. I'm looking at the ones who have a 95% success rate.
Has anyone here had luck with a loan modification lawyer?
I have been searching all day for solutions to my problem and have decided that maybe somebody who knows how to deal with my situation professionally may be the right answer. The people I am dealing with at my mortgage company are ruthless...and I am nice. I just can't continue to pay my lender $30,000 a year in interest alone to stay in my home. I need someone who can talk with them for me on their level.
So I have found several loan modification lawyers on-line. The question is which ones can I trust not to take further advantage of my desperate situation?
Most of them want money up front and say if they can't do it they refund you a portion of your money. I'm looking at the ones who have a 95% success rate.
Has anyone here had luck with a loan modification lawyer?
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
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
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
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
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.
good luck.
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
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
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.
I am curious what the affect of Bank of America buying Merrill and Wilshire will do to this unscroupluous servicer.
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
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
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??
any way im upside down over 200.000 dollars ,, i dont know who to trust with so many,, any suggestions??
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.
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.
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.
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.
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.
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.
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
Again, you can email me and I will provide more details to get you started on your free screening and consultation.
Thanks, Frank
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.
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.
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. Id 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 wont 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
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. Id 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 wont 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
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.
Hey George,
Glad to respond in a civil manner - life is too short to act otherwise and I have respect for everyones opinion. We may not agree, but that's ok.
There are many scams going on out there, that is an undisputable fact. I believe that I work with the best company in the business and in fact our website has links to many, many stories of scams as we believe in treating people fairly and the problem has to be addressed.
Anyway, I hope you are having a good day.
Thanks,
Frank Aaron
Processing Agent
PSG Attorneys
Glad to respond in a civil manner - life is too short to act otherwise and I have respect for everyones opinion. We may not agree, but that's ok.
There are many scams going on out there, that is an undisputable fact. I believe that I work with the best company in the business and in fact our website has links to many, many stories of scams as we believe in treating people fairly and the problem has to be addressed.
Anyway, I hope you are having a good day.
Thanks,
Frank Aaron
Processing Agent
PSG Attorneys