A home is a person’s most valuable asset.  It only makes sense that you would want to protect your asset. If you are falling behind in your mortgage payments or facing foreclosure, a loan modification attorney can protect your interests and help you stop foreclosure through loss mitigation.  Loss mitigation is a process that the lender and the federal government have gotten together to help homeowners find other options to keep their homes.
Loss Mitigation Process
Since most homeowners are not familiar with the loss mitigation process, it is extremely important …

Millions of homeowners are struggling right now to make their mortgage payments. However, many make the following mistakes. The end result is that they lose their homes to foreclosure. Most foreclosures can be prevented if you start early. Lenders have too many foreclosed homes on their books right now and are not interested in being in the real estate business. So here are some mistakes that you want to avoid making:
Mistake #1
Do nothing. This is the worst mistake that most homeowners do. They feel helpless, …

Negotiating a short sale can be tricky if you don’t know the ins and outs. It is smart to discuss the short sell process with your attorney first to make sure that is the best option for you. Also, by following these simple steps, you have a much higher rate of success of getting your short sale approved.
Step 1
Find out from the lender if the property qualifies for a short sale. Depending on the lender or loan servicer, they will probably need the following documentation to determine if the …

Foreclosure laws vary from state to state. Either foreclosures are judicial, which means they need court approval or non-judicial (private Trustee Sales). Once the homeowner falls behind in their monthly mortgage payments, the lender will institute some type of action against the homeowner to reclaim the property. Generally, the homeowner is behind at least three months in their mortgage payments. Because the lenders are so overwhelmed with defaulted loans, the process may take slightly longer before the lenders start the foreclosure proceedings these days.

Unemployment, bankruptcy and foreclosure are all around us. We see them in the headlines and we hear them on the radio. It is almost impossible to enter into a conversation in the modern era that doesn’t eventually touch on one or more of those terms as well. Obviously this breeds a great deal of despair as well. While some people may feel entirely overwhelmed during periods of financial recession and depression, and believe that such terrible moments are too difficult to manage, the great news is that an even larger …