Loan Modification Help Center – Loan Modifications, Myth vs. Fact

When people take the time to research loan modifications, they are confronted by various issues that may not make much sense.  Different loan modification companies will offer differing information, and mortgage lenders will usually choose to hold back certain truths, often to their own benefit.  The Loan Modification Help Center is designed to try and eliminate the myths from the facts, giving you a true picture of the loan modification arena.

Here are some myths going around the Internet as well as the truths that debunk them:

Myth – You have to be late on your mortgage in order to be eligible for a loan modification.

Fact – You do not have to be late, although it helps if you are.  In other words, you will get more attention and help on your mortgage from your mortgage lender if you are late.  It takes a California loan modification attorney with a tenacious attitude to deal with a borrower, but getting a loan modification if you are not late on your payments is absolutely possible.  Plus, new laws passed by the Obama Administration help people in that situation.  

Myth – Any loan modification company can help you with a California home loan modification.

Fact – Unless a loan modification company has an experienced California home loan modification attorney, they really can’t help you very much.  A loan modification attorney will be empowered to work on your behalf, and only someone with the power of attorney can do so.  A random company that does not employ (or is not run by) a California loan modification attorney really can’t do an adequate job.

Myth – Lenders are doing everything they can to assist struggling homeowners.

Fact – Lenders are doing everything they can to protect their own interests.  Lenders have neither the resources, nor the good will to help all the homeowners suffering from bad mortgage loans.  These lenders have lost billions of dollars, have laid off countless employees and are responsible to their shareholders, not the general public.  Without a California loan modification attorney helping you get a loan modification, you really are not going to get the attention you need and deserve.

Myth – Loan modification applications cost a ton of money.

Fact – There are absolutely some loan modification companies looking to make a quick buck, but experienced, qualified and service-oriented loan modification companies such as the Feldman Law Center are focused on keeping you in your home.  People should not be frivolous with their cash, which is why a qualified loan modification company is the way to go.  If you have concerns about upfront costs or overall costs, be sure to talk to the service representative you speak with about it.  You will most likely spend some money, but remember we are talking about your home here.  Keeping your home during this difficult economy will make you stronger financially once the recession ends.  That should always be your end goal throughout the loan modification process.

Visit us at http://www.loanmodificationhelpcenter.org/ or call 800-359-6941.

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.