At the ModbyLawyers we work with homeowners and their lenders to avoid foreclosure. For years, Real Estate and Lending Professionals have done a good job at getting people into homes. But, not enough emphasis has been placed on keeping Homeowners in their homes when financial hardships arise. Now, "Loss Mitigation", "Foreclosure/REO Avoidance" and "Customer Retention" are the "buzz words" of most mortgage servicing environments.
We have established a national network of Real Estate Professionals to facilitate greater cooperation between Homeowners and Lending Professionals. We are committed to a timely and cost effective resolution of non-performing assets.
The ModbyLawyers specializes in resolving the following Non-Performing Asset challenges.
The ModbyLawyers is a fee-only foreclosure mitigation company that prides itself on unparalleled service and performance. We are committed to providing unbiased advice and prudent strategies for non-performing assets. Our services are always tailored to your unique needs. Our fee-only approach allows us to serve you without compromise. We do not work on a commission basis, nor do we benefit from recommending any particular course of action. Our reward is satisfied clients!
LOAN MODIFICATION QUESTIONS
WHAT IS A LOAN MODIFICATION? Loan modifications are any changes made to an already existing loan on real property. The modification may take the form of a change in the interest rate, the repayment schedule, the principal amount of the loan, or any other terms or combination of terms.
HOW LONG DOES IT TAKE? There is no set time to complete the loan modification process. Most of the time, it is a process that takes several weeks up to several months.
WHY DOES IT TAKE SO LONG? The lending institutions are overwhelmed by the number of demands for loan modification. The banks have experienced financial set backs leading to layoffs and an increased work loan. Patience is the virtue that serves everyone involved in this process.
I AM IN DEFAULT. WILL THIS PROCESS SAVE MY HOUSE? No one can guarantee that the loan modification process will stop a foreclosure. However, under these circumstances, we advise you to contact an attorney.
IS THIS LIKE REFINANCING? No. First, you do not need to qualify for a loan modification. Loan modifications are requests made of your existing lender.
CAN I TAKE MONEY OUT WHEN I MODIFY? No. You are asking the lender to take a loss on your loan. Do not expect that the lender will also give you money as well.
THE PROCESS SOUNDS INTIMIDATING. IS IT? Yes, it can be quite intimidating. Most clients have never had to deal with a lender on this level. But, you can count on our professional team to be there for you every step of the way.
WILL THE FIRM KEEP ME UP-TO-DATE ON THE PROGRESS? Absolutely. You will be provided with constant updates on the status of your loan modification.
WHAT DO I NEED TO DO? All that we ask is that you provide us with all of the information we ask you for and that you do so in a timely manner. To start, we will need a financial statement, two months of bank statements, your three most recent paystubs and a hardship letter.
About ModByLAwyers staff:
Our Attorneys are licensed to practice law in the State of California and have many years of experience in the Real Estate and Mortgage business law.
We are also proud to have a team of highly Experienced Professional staff with many years of experience in loan processing and negotiation with working experience from some of the largest financial institutions in the US such as Bank of America, Wells Fargo, Countrywide, Wachovia, World Savings, and many more.
Mod By Lawyers, Inc
1900 S. State College Blvd Suite# 300
Anaheim, CA 92806
Ph: (714) 464-6214
Fax: (714) 206-0994
Mod By Lawyers Modification program offer a full team of corporate processors, negotiators and attorneys to support their clients. We are among the first doing loan mods since October of 2007 and continue to develop strong lender relationships and evolve our program. Well work together with you and your client to make sure they get the best possible representation on their loan modification. Mod By Lawyers is here to help your clients fix their broken loan and keep them in their home.
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