Who can I trust?

[mjwizzard23]

Who can I trust to help me in a loan modification?

Thanks,
Rich

[SillyWorld]

Depends on WHO your Banker is, and what you are looking to do..There are several Loansafe numbers you can get on this Forum, or you can apply at NACA.com and see what options they can offer you...

[faith]

Rich,
Nowadays you can not trust anyone especially companies that do Loan Modification that charge a lot of money but don't deliver or fullfill their promises.
The first thing you need to do is to find our from your lenders website their requirements of a loan modification. If you are in financial hardship you need to let your lender know that you can no longer afford to pay the mortgage and state the reasons why, loss of income, reduced hours, disability, divorce, etc.

This forum has a lot of success stories about Loan Modifications and Short Sale approved by the lenders. Below is the link you can check to see if your lender is listed and find out yourself by reading the members stories how they handle their lenders and who to contact.

Guidelines for the modification, payment and the gross income criteria
Please click the link below:
http://www.treas.gov/press/releases/...guidelines.pdf

Information and guidelines for the new modification program dated March 4^{th, check}your eligibility

Making Home Affordable - Home Affordable Modifications

The link below may help you:

http://www.loansafe.org/forum/success-stories-homeowners-who-fought-back-won/

http://www.loansafe.org/forum/success-stories-homeowners-who-fought-back-won/5488-success-ahmsi.html

God bless and take care.

[Paul Molinaro Esq.]

NO LEGAL ADVICE HERE - JUST GENERAL INFORMATION - ANY SIMILARITIES TO ANYONE'S ACTUAL SITUATION IS JUST ONE HECK OF A COINCIDENCE.

Since the thread was started on the California Attorneys' section, I'm gonna go out on a limb here and assume you mean... which attorneys' do you trust and as a part two to your query... how to learn which attorneys to hire.

Well, my thoughts on this have been posted all over the Web... and the answers are pretty much common sense... before forking over three grand (or thereabouts) to some lawyer, meet the lawyer face to face in his or her office... if you are too far away, make sure you feel very comfortable with the lawyer and the staff on telephone conversations... ask LOTS of questions... ask about their experience in other areas related of law... do they litigate against lenders... ask about some of their cases... they can't give confidential info... but if you ask me about my cases... you'll start me bragging about suing lenders (it's not just a job, we really like it)... ask whether they do BKs along with loan mods... ask if they jumped into loan mods when all the others did... ask if they can give you a reasonable expectation on what to expect from YOUR specific lender... all in all... make sure you and the lawyer both agree on the goals of representation BEFORE you pay.

Once you hire the lawyer, ask how often you will get updates... ask who will be working on your file? It's okay for legal assistants to assist, especially when they are experienced mortgage professionals (I like to think of our team as reformed mortgage professionals who left the dark side)... make sure your lawyer says, "Call me anytime" (when the fee is fixed... as hourly clients should be careful about calling to much... your hourly fee bill will look like a 13 years old text message bill otherwise).

Do your homework on the Internet and see what others say about that firm. Again, all common sense stuff.

- Paul

[Paul Molinaro Esq.]

NO LEGAL ADVICE HERE - JUST GENERAL INFORMATION - ANY SIMILARITIES TO ANYONE'S ACTUAL SITUATION IS JUST ONE HECK OF A COINCIDENCE.

Just to add to my post above... one of the things I see in lawyers who have jumped into the "loan mod biz" is a lack of understanding of how loans were actually done, little knowledge of how loans are sold/packaged/traded, ignorance of federal and state laws with regard to which suits are worth filing, and not enough experience with various lenders/investors to know what is reasonable to demand from a particular lender/investor.

Nathan Fransen, for example, was in the mortgage business BEFORE becoming a lawyer. He was a branch manager for Olympia Funding and then owned Signature Capital. The other lawyers on our staff also have lending or bankruptcy experience. Gregg Eichler, Esq. has been a bankruptcy attorney since the late 1970s. Wayne Rash, Esq. has litigated against many lenders (and on occasion borrowers) throughout his legal career of over thirty years. J. Marie Gray, Esq. has a strong background (18 years) in family law... and when you ask what's that got to do with lending... guess what many many divorces are about? You guessed it.... MONEY and DEBT... and if you add infidelity, I say the DEBT is a result of buying the adulteree expensive gifts so again it's DEBT. Working with mortgage companies and credit card companies has always been a part of handling a divorce.

A law firm practicing in this area need be a real law firm, not an "attorney backed" "loan mod shoppe." Borrowers need to be provided all their available options, so they can make an informed and intelligent choice on how to proceed. BK is a very powerful tool to use against lenders, and a law firm should have this service available when looking at mortgage relief.

And, the disclaimer... IF YOU THINK THIS IS AN ADVERTISEMENT FOR A LAW FIRM OR LAWYER, THEN IT ABSOLUTELY IS.

- Paul