Loan Modification Assistance

One of the biggest headaches for homeowners is the lack of empathy on the lender’s side. They say they will call you back but never do. You send in your paperwork and they will tell you they weren’t received even if you sent it certified and have a signature. In part, the lender’s employees are overworked and have big case loads. Sometimes they will even give you the run around hoping that you’ll get tired and just give up. This is the time to consider a loan modification attorney to handle the situation for you.

The private and government home loan assistance firms are available to homeowners to help them understand the home modified loan assistance process. It is important to know the difference between refinancing and loan modification assistance as refinancing may not be the best option for everyone. Refinancing is taking your loan and starting all over again – having a great score is important for this- while loan modification is adjusting the current loan the homeowner has to fit their current financial situation. Loan modification assistance is pretty much extending the payments for a longer period of time, making your loan payoff time longer, and lowering the interest rate. The modified loan assistance process is probably best for those who less than perfect credit.

One great reason for hiring one is to have a third party perspective. The attorney is not emotionally involved and can assess the situation. Since you as a homeowner are attached, the idea of losing your home can make you very emotional which means you might not be able to get the best deal available to you.