Paladin Legal Center Loan Modification Attorneys

A loan modification is a permanent change to one or more terms of your existing mortgage(s), and is primarily intended to make your monthly payments more affordable by lowering the interest rate on your loan and securing a reduction of the loan balance.  The needs of each homeowner are different, and there are many lenders representing many different attitudes and levels of willingness to make these changes.  The most common objectives when negotiating with lenders on behalf of our clients include:

•    Reduce your monthly payments
•    Lower your interest rate
•    Lock your adjustable rate
•    Reduce your loan balance
•    Stop foreclosure proceedings
•    Waive lender fees and penalties
•    Benefit from extensions on payments
•    Re-amortize loan to include past due payments
•    STAY IN YOUR HOME
•    SAVE YOUR HOME

Prior to enlisting our help, many of our clients have failed in their attempts to secure a loan modification on their own, even after sometimes spending many months attempting to contact and negotiate with their lenders.  The reason for this, like many things involving large corporations, legal contracts, and unfriendly “customer service” departments, is because they do not really want to help you.  In fact, by helping you, the banks and financial institutions actually lose money for themselves and their investors…..but the alternative for them  is equally or more unattractive:  to foreclose on the house of a delinquent borrower and attempt to resell the house to a new borrower in today’s depressed economic conditions and painfully low home prices.

A successful loan modification satisfies the single most important requirement for all lenders; that the deal makes economic sense and the new payments will be made to avoid foreclosure.  For example, the lender must be determine that the revenue lost due to the new lower payments on the loan would still be better than the costs associated with the foreclosure, maintenance of the house, and a much lower price for the re-sale.  A good loan modification specialist can help you secure a solution that works for both you and your lender.

The Paladin Legal Advocacy Center employs an experienced team of attorneys, real estate professionals, loss mitigation specialists and mortgage professionals….and most importantly, all work is overseen by experienced real estate attorneys in our office who are committed to providing the highest quality service for every client.

For some clients, a loan modification is unfortunately not an option because their house is already in foreclosure and about to be sold, or they simply would not satisfy even the most flexible of lender requirements.  In these situations there is a powerful alternative:  our specialists perform a forensic analysis of your case to identify legal flaws in the documentation or actions taken by your lender that can be used as leverage for a successful negotiation on your behalf.  In particular, our attorneys can use violations of the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) that occurred during the origination of your loan as leverage to negotiate with your lenders.  These solutions are essentially litigation with our attorneys representing you in a lawsuit against your lender.  Frequently the result of this litigation on your behalf is to extend the time you may legally remain in your house, and the ultimate goal is to force the lender to settle the lawsuit by modifying your loan on terms that are acceptable to you.

Every one of our clients receive the benefit of an individual evaluation of all relevant documentation, personalized consultation to discuss the issues and all available options (including litigation), and then your case will be assigned to the most appropriate loan modification specialist or senior attorney to secure the best possible outcome.