Loan modifications have grown in popularity over the years because they have been increasingly successful in keeping people in their homes. As a result, the federal government has become a big fan of loan modifications and is getting more involved. The Obama administration is pressing mortgage servicing companies to step up their efforts to modify troubled loans under its housing rescue program.  The White House is frustrated with the pace at which homes are being foreclosed on, as well as the pace with which loan modifications are being processed.

The Obama administration has seen a significant "ramp up" of loan modification activity, but it often times does not seem like enough when so many people are hurting. Federal loan modifications have helped some people stay in their homes, but the federal government often cannot give enough attention to all of the people who need help right now. Think about the millions upon millions of homeowners who need assistance with their mortgages and how few government representatives there are helping them. What many people need is a California loan modification attorney working with them, one on one, to keep their homes.

Housing counselors say they are disappointed by the progress made so far under the current Administration's program, saying they are not getting anywhere near the results they were hoping for. They are saying the services are not up to par, which often means that there are not enough people answering phones for those who are calling. Sometimes, housing counselors have to educate the staff about their own programs, which means the government is not properly educating the people who were hired to help the public. In fact, Maeve Elise Brown of the Housing and Economic Rights Advocates said "Homeowners on their own are not able to navigate the system."

All of this translates into homeowners needing an advocate who can take the time to listen to their needs, help them with their problem and be their advocate when no one else is helping them. A qualified loan modification attorney can walk you through all of the challenges and headaches that people are dealing with, whether you are considering a foreclosure, short sale or bankruptcy. A loan modification attorney can act on your behalf and aggressively fight for you, your family and your home.

Loan modifications can help you avoid foreclosure and stay in your home by renegotiating your mortgage terms to get your monthly payments much lower. This can be done by lowering your interest rate, getting a fixed rate instead of an adjustable interest rate, getting a principal reduction or some other option. A qualified California loan modification attorney will be able to effectively negotiate with banks and lenders, getting you the best terms possible for your loan modification. These are not easy times we live in, and everyone around you might be facing the most difficult financial circumstances anyone has faced in the last fifty years. However, with a loan modification attorney, you can rest assured that you have someone working on your behalf to help you avoid the storm.

Visit us at http://www.feldmanlawcenter.com or call 800-588-0425

Legal Disclaimer

The information contained herein is provided for general information and advertising purposes only and is not intended to convey a legal option nor legal advice for any particular case or situation. Nothing in this article shall create an attorney-client relationship. Nothing sent to this law office via e-mail shall constitute an attorney-client relationship. Nothing contained in this article shall be construed to be a guarantee or prediction of result. Prior results are provided for general information purposes only and do not guaranty, warranty or predict a similar outcome with respect to any future matter.   Results achieved depend on individual circumstances and not everyone will qualify or be successful in restructuring their mortgage loan.

Author: Greg Feldman


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