Hi hntrjmpr,
Welcome to the forum and thank you for joining...............
Here on the LoanSafe forum we would only have information on the attorneys that are on the home page of LoanSafe, as we have authorized them to be on LoanSafe.........we wouldn't have information about any other attorneys or companies on the forum. For that you would need to go to the California Bar Association website and check on the licensing of the attrorney that you are looking at working with.............or you can contact the attorneys that we have checked and authorized to be on LoanSafe and see if they may be able to help you................here is the link for that.........
Loan Modification Service | Home Mortgage | Protect Your Home & Mortgage With Loan Safe
Principal reductions have not been offered in conjunction with modifications from the investors as of yet.............we have seen a few principal forbearance.............but that leaves a balloon payment at the end of the note..............so the property would still be underwater.
But if you have an option arm and are in California................have you asked about the AG Settlement that began on Dec. 1st? You may qualify for that program.................
1-800-669-0102
also if this is the only property that you own, you would also have NACA as an option............they are a HUD approved counseling agency and their services for the Home Save modification are free.........click on the link for the info.........
https://www.naca.com/refinance/refinanceTenStep.jsp
Before deciding to foreclose............look around the Deed in Lieu section of the forum..............the link is below.............there is alot of good information from California homeowners and if you meet a certain criteria of a purchase money loan..............the lender would not be able to come after you for any deficiency left after foreclosure sale..........
here is the link for that section.........
Deed in Lieu of Foreclosure - Do You Need Help to Walk Away? - Loan Modification Forum - Loan Safe