Foreclosures Help Information

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Foreclosure Law Help

President Obama’s historic presidency began in the midst of possibly the worst financial crisis since the Great Depression.  The housing and real estate markets seemingly jumped off of a cliff, taking with it the financial stability of every other industry.  Obama passed sweeping legislation to help homeowners make payments and deal with the financial crisis while staying in their homes.  This plan in turn helps lenders who need homeowners to continue making their mortgage payments.  A key part of this plan is the loan modification process, which now helps homeowners even more.

The federal government is relying heavily on loan modifications with the Helping Families Save Their Homes Act of 2009 and Making Home Affordable Program.  Under these programs, current borrowers who are at imminent risk of default may qualify for a loan modification as long as the immanency of the default is tied to a specific event.  By specific event, they mean a pending interest rate increase in your mortgage loan or a demonstrable change in economic situation such as your spouse losing his/her job or a severe medical condition.

Ultimately, the plan centers around the thought that struggling borrowers can stay in their homes as long as they make their monthly payments (regardless of the sharp decline in value).  The plan has many backers, including billionaire Warrant Buffet.  In a recent letter to shareholders, Buffet wrote “Commentary about the current housing crisis often ignores the crucial fact that more foreclosures do not occur because a house is worth less than its mortgage (so-called ‘upside-down’ loans).  Rather, foreclosures take place because borrowers can’t pay the monthly payment that they agreed to pay.â€

In the end, regardless of what the cause is for the foreclosures, homeowners are looking for ways to stay in their homes and everyone is hoping that Obama’s plan is the path toward that reality.  For homeowners facing foreclosure, struggling to make payments, and overwhelmed by creditor and lender phone calls, having someone they can trust by their side could make a huge difference.  During these difficult financial times, California loan modification attorneys are doing their best to be more than just an attorney; they are trying to be a confidante.  

A California loan modification attorney can sit down with you and discuss your options and if any new options were opened up under the Obama plan.  At the Feldman Law Center, our California loan modification attorney team is up to date with all federal and state laws governing loan modifications.  FDIC loan modifications, California loan modifications and more all fall under our jurisdiction.  We can help you find the program that’s right for you and your financial situation.

Millions of California residents are investigating California loan modifications as a possible solution to their financial troubles and as a way to avoid foreclosure.  If you find yourself in this situation, you should contact a loan modification attorney and get as informed as you can about all the state and federal loan modification programs available to you.

Visit Feldman Law Center at feldmanlawcenter.com or call 800-588-0425.

About the Author:

About Feldman Law Center: The Feldman Law Center is owned and operated by Steven C. Feldman, attorney at law. Mr. Feldman has been a member of the California State Bar since 1983 and is well versed in federal loan modification law.

Source - Feldman Law Center – The Specifics of President Obama’s Plan

Stop Foreclosure DC, Foreclosure Help DC, Foreclosure Law D

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Foreclosure Assistance

Question: Landlord is in foreclosure, what to do?

I am renting since 3 month and just a few days ago I found out from my landlord that she is in foreclosure. I am receiving housing assistance from the state is it legal for my landlord to accept that? I dont think I will get my security deposit back, should I keep on paying rent?
And if I give my 30 day to move out notice can I tell her to keep my security deposit as last month rent?

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Answer: Contact the state & explain your situation.

FOX Business - Can foreclosure assistance companies be tr...

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Federal Foreclosure Assistance Center

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

About the Author:

Welcome to Loan Modification Help Center. Loan Modification Help Center has information about loan modifications and resources to help you with your home loan modification. We have lots of free news relating to loan modifications and the process to help you avoid foreclosure.

Source - Feldman Law Center - Federal Government Prodding Loan Companies

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