Facing Foreclosure?

Time is of the essence! Your lender is preparing to sell your home. Our staff will guide you through the necessary steps to stop the foreclosure, keeping you and your family in your home until a loan modification is complete with a new low payment.

Being in foreclosure, it is extremely important you do not wait to start your modification. Many families have lost there homes because they started the process to late. In most cases our attorneys can stop the home from being sold at auction just long enough to process and complete the modification, but there are instances where the bank is so overwhelmed they do not get to the file in time and the home is sold.

In most cases your lender will begin the foreclosure process 3-6 months after you have missed your first payment. The current market conditions have the banks overwhelmed with the amount of homes going into foreclosure, so the foreclosure process could take longer than usual.

Contrary to popular belief, the banks do not want to foreclose on your home. The lenders take huge losses when they foreclose on a property because most homes are worth significantly less than the amount owed. In this housing market when a bank sells a property they must sell it for under market value. They do this so they can get the bad debt off there books and write the bad debt off as a loss.

The bank would rather lower your mortgage payments to an affordable level, then to take the huge losses through the foreclosure process. Our attorneys negotiate an affordable new payment with the loan modification to keep you and your family in your home.

If you are in foreclosure, chances are you are not making anymore payments. Now is the perfect time to take that money you would normally pay your mortgage with and invest in a loan modification. In many cases a typical file that we accept can see a significant reduction in their monthly payments. This is accomplished by lowering your interest rate and or balance.

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