Choosing the Best Mortgage Loan Modification Services
Are you facing the possibility of losing your home in foreclosure? If so, the first thing to remember is that you aren’t the only one in that position. Millions of homeowners have been in the same situation. On the positive side, there are ways to prevent the foreclosure and retain ownership of your home.
For instance, a mortgage modification agreement can be arranged with the lender to halt the foreclosure process. This agreement could have additional benefits such as a lower interest rate, smaller monthly payments, and spreading the past due payments out over a specified time period.
Other possible loss mitigation options include a forbearance agreement, refinancing, short-sale, or deed in lieu of foreclosure. However, you must act right away, or the foreclosure process will be impossible to reverse. It’s imperative that you contact a foreclosure attorney as soon as you realize you are unable to bring the mortgage current.
Why You Need a Foreclosure Attorney
We mentioned several options above that may be a solution to your situation. But, each process is complex and can backfire if not handled properly. A qualified foreclosure attorney will know which option is best for your needs.
Here are some of the other reasons why you need legal representation to stop foreclosure:
- If you think the mortgage holder isn’t treating your loan modification request fairly.
- You’re confused and don’t know what to do next.
- You want to appeal the lender’s denial of your mortgage loan modification application.
- The lender is dual-tracking the loan. Dual-tracking means the lender is reviewing the modification request while simultaneously pursuing foreclosure.
- You’re unsure about the foreclosure laws in your state.
Now that you know why you need a foreclosure attorney, how do you know which one is right for your situation? Here are a few tips that will help you make an informed choice:
- Contact the American Bar Association or a Legal Aid office for referrals and information.
- Choose a few attorneys and schedule consultations. Bring a list of questions and any documents the attorney requested. This will save time and help the attorney determine the best approach to solving your problem.
- Beware of “red flags” such as lawyers who make promises before he knows all the facts about your case.
- Avoid lawyers who charge a flat-rate fee. Chances are, he is handling too many cases and won’t be able to give your case the effort and attention it requires.
- If the consultation ends without having established a plan of action, go to a different attorney.
The characteristics of a top foreclosure attorney include extensive knowledge of foreclosure law, strong negotiating skills, and experience in loan modifications and bankruptcy. Also, reputation is a good guideline to use when choosing an attorney. All in all, a consultation with an attorney may be the best way to find the best solution for your legal needs.
Avoid Guesswork When Choosing a Foreclosure Attorney
Depending on your location, you may find that there are hundreds of foreclosure attorneys in your area. One way to narrow down the search is to look for those who have successfully handled foreclosure cases for many years, With this in mind, you should contact Bartifay Law Offices, P.C. We have been saving homes for clients in the Pittsburgh area since 1993. Our team is skilled in mortgage loan modification, foreclosure defense, and bankruptcy.
If you want a timely and stress-free resolution to your foreclosure dilemma, call our toll-free number today.