[Haduken]

Hello and first of all thank you for your future help and I hope that this can help others as well.

My father is the primary and I am a co-borrower. The loan is a negative amortization and started off at 420k and now has increased to 459k. The loan is issued by Wells Fargo. The monthly is about 1,900 a month and will balloon to about 2600 in October.

My parents decided to buy another home which we would all live in and use the first house as a rental property and we created an LLC for taxes purpose for the first house. The second house (we are living at) has my mother as the primary and I am the co- borrower. The first loan is about 759k and the second is at 89k. The monthly payment is about 3900 for the first and 600 for the 2nd.

My dad and I combine make about 9k a month (first house). My mother and I make approximately 16k together (before taxes) I will confirm.

We are now 2 months delinquent, due to our inability to pay and some hardships which we are experiencing. Also it was advised to us by our lawyer that the banks will not listen until this happens. We have been in contact with our banks because they have been sending us letters as well.

My questions:
1- If the bank denies us due to lack of paperwork, (utilities) can we send in the utilities bills and they can reconsider or start back and take a look at the papers or if they deny us, does it mean we can not reapply?
2- The lawyer stated that they saw some illegal practices that were done by both banks. Is this a legitimate way to have our loans modified?
3- Was a lawyer necessary to hire? Do they make the loan mod process easier or is there more of a chance of it being approved?
4- What is the chance of us actually being approved for both loan mods?

I apologize for being so detailed. Thank you for your time and please let me know if I can be a little bit clearer.

Thanks
Haduken