Pittsfield, MA -- (SBWIRE) -- 04/30/2013 -- Credit-yogi.com has looked into lawyers to help with loan modification, and would now like to share what it learned, such as:
- Reasons to Hire a Lawyer
- What an Attorney can Do
- Lenders’ Opinions
- Use Caution
Why Hire an Attorney?
For folks who don’t have hours to spend on the telephone trying to get through the mortgage modification process, hiring a lawyer for loan modification may be a wise move. Attorneys who specialize in this area of law can help their clients in a number of ways. They can clarify a homeowner’s legal rights. They can also talk with a client’s lender to work out details of a modification, and they can help a client fill out paperwork, as well as possibly stop a foreclosure sale. While halting the sale may not guarantee a loan modification, it can give someone time to catch up on his payments.
Other Ways a Lawyer can Help
In many cases, a lawyer for mortgage modification can provide assistance to stop a foreclosure sale, as previously mentioned. One of the ways in which a foreclosure can be halted is by filing for bankruptcy, which an attorney can certainly help with. An attorney can also help a homeowner file an order to show cause to halt a foreclosure process.
What Lenders Think
Most lenders are very much against homeowners hiring a home loan modification lawyer. They say that the money spent on the lawyer could be put to better use if it was applied to the past-due amount on a mortgage. They also point out that an individual should not have to pay for loan modification services they can get for free from a mortgage servicer or a non-profit housing counseling agency that is HUD approved. Many of these financers suggest that a homeowner contact them before hiring any legal service they have to pay for, as lenders are generally willing to work something out with a client.
Local Lawyers To Help With Loan Modification, Send Request Today!!
Both lenders and lawyers to help with loan modification agree that consumers must be cautious about which attorney to hire. Borrowers are encouraged to research possible lenders. Get some references from other people and ask the lawyer how much loan modification experience he has. All borrowers must sign an agreement authorizing an attorney to represent them and thereby be part of the loan modification process.
http://Credit-yogi.com is a highly respected website located in Pittsfield, Massachusetts that brings together people who have inquiries about finances and the fiscal specialists who can provide the answers, free of charge. For a preliminary conference, dial 866-964-9644.