Frequently Asked Questions
Q: Does my mortgage company want to foreclose on my property and take my house?
A: NO! A mortgage company (bank) generally loses money when they foreclose on a property. The bank loses even more money if they are forced to take ownership of a property and maintain the property until it sells. There are a few options that banks are willing to consider in order to prevent these large losses. Mortgage modifications are the best option for both the bank and the homeowner, because the homeowner saves their home with a drastically reduced monthly payment, and the bank prevents another major financial loss.
Q. Is it too late to save my home if I have already received a Notice of Default/Foreclosure?
A: No. However, if you are currently in this stage of default and/or nearing foreclosure, you are at a much higher risk of losing your home. It is recommended that you seek legal representation immediately. Our attorneys can put an immediate stop to the foreclosure proceedings. CLICK HERE to begin the process.
Q: Can I do this myself?
A: Yes, you can do this yourself. However, be informed that the mortgage modification process is a lengthy process that generally takes 60-120 days. Please be aware that you ONLY get one modification for the life of your mortgage. If you are unhappy with the result of the modification that you attain on your own, and you still cannot afford your payments or you did not secure a low fixed interest rate, you will be unable to attempt another modification. The mortgage company (bank) will not allow any additional modifications.
Q: Why should I have an attorney do this for me?
A: Attorneys are best qualified to negotiate with your mortgage company. Our attorneys are very likely to secure a more drastically reduced monthly payment and lower interest rate than you will attain on your own. An attorney based modification will most likely save you tens of thousands of dollars MORE over the life of your mortgage than if you modify on your own. Check out our testimonials page to read some of our recent modification success stories.
Q: What is the right solution for me?
A: Our certified mortgage specialists will help you determine the answer to that question. They will even help you apply for the free government assistance program if that is what you determine is best.
Q: What is predatory lending and how do I know if I am a victim of predatory lending?
A: Predatory Lending refers to the practice whereby a lender gives a borrower a loan that the borrower could never really afford, was not fully apprised of all the costs, fees and ramifications of the loan program and likely to fall into default and subsequent foreclosure. In short, predatory lending refers to loans being given to people who cannot really afford them. On both federal and state levels, laws require that creditors disclose all terms and costs of loans to borrowers, and when those terms are not disclosed or are inaccurately disclosed these laws provide severe monetary penalties against these creditors. If you feel you may be a victim of predatory lending, CLICK HERE and one of our legal experts will give you a free consultation. .
Q: How do I apply for assistance?
A: Apply by phone by calling toll-free 1-866-403-3276 or apply online with our mortgage modification FAST-TRACK form to get the process started immediately. CLICK HERE to see if you qualify.
Click HERE to get started today!
