Houston Loan Modification Attorney
What is a Mortgage Loan Modification Program
A loan modification, also referred to as a mortgage modification, is an adjustment to the agreement between the homeowner and the lender handling the loan. This adjustment is often made to accommodate an unexpected life event that affects the homeowner's ability to make payments.
Since the mortgage crisis of 2008, programs have been developed to implement or streamline mortgage loan modifications. Many of the major mortgage companies in the United States have agreed to participate in loan modifications.
The experienced Houston loan modification attorneys at Keeling Law Firm can provide more information on the benefits of a mortgage modification and how it can help the homeowner in this situation. Our attorneys can negotiate with the lender to reduce the interest rate, lower the amount owed, or even extend the term of the loan.
Mortgage Loan Consultants:
Loan modification programs can be confusing. You may be tempted to go to a consultant for a loan modification. Do not fall for a scam. Recognize that many of the major mortgage lenders in the United States voluntarily participate in loan modification programs. To find out whether you can qualify for a loan modification, you can often just call your mortgage company.
The Texas Secure and Fair Enforcement for Mortgage License Act prohibits residential mortgage loan origination or negotiation unless the business is properly licensed. Among other things, residential mortgage loan originators are prohibited from obtaining a fee or commission when no loan is actually obtained.
Before you consider using a mortgage loan consultant, we recommend that you become fully informed. A suggested website is: www.preventloanscams.org. The website is published by the Loan Modification Scam Prevention Network, a nonprofit. Free foreclosure avoidance counseling is provided through the U.S. Department of Housing and Urban Development. More information is provided at the HUD.Gov website: https://apps.hud.gov/offices/hsg/sfh/hcc/hcs.cfm.
How Can Keeling Law Firm Help You?
Mortgage loan modifications take time. Mortgage companies often have guidelines as to foreclosure when a homeowner is behind on their mortgage payments. Sometimes a person in the loan modification department of a mortgage company is working with a client at the same time an outside lawyer is posting the property for foreclosure.
We work with clients to stop foreclosures before it is too late.
If you have received a notice that your home may be posted for foreclosure, you must assume the mortgage company has authorized foreclosure even though a loan modification is pending. It is better to be safe than sorry. Contact a qualified consumer bankruptcy attorney to protect your rights.
Contact us today to learn more about how our Houston loan modification help attorney can help you today and other services we have to offer such as:
- Home Foreclosure
- Vehicle Repossesion
- Wage Garnishments
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- Payday Loans
- IRS Debt
- Student Loans
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