Feldman Law Center

Feldman Law Center – News by Feldman Law Center — When people hear about loan modifications, they learn that one of the most common ways to lower your monthly mortgage payments is to adjust your interest rate. For example, if you have an adjustable rate mortgage, you could get your interest rate lowered for some period of time. You could also switch from an adjustable rate mortgage to a fixed rate mortgage, and this way not only would your mortgage payment be cheaper, but you could know what it will be over the long haul.

The challenge is, adjusting your interest rate, or setting your interest rate permanently may not be your best option. It may seem simple, but you could have other choices available to you that you are not aware of. One of the benefits of having a loan modification attorney working with you is that they may be aware of options you are not aware of.

For example, a loan modification does not necessarily have to involve an interest rate adjustment. Other loan modification options involve principal reduction and lengthening the term of your loan. If you get a principal reduction, it could mean that a loan for $500,000 could be lowered to $380,000, which would obviously have a huge impact on your monthly mortgage payments. You could also get the term lengthened, and go from a 30 year mortgage to a 40 year mortgage. An extra ten years would give you an extra 120 months to spread out your payments, which would also lower your monthly mortgage payments.

Interest rates were at an all time low in December, and stayed there for quite a while. However, they’ve gone up and down and recently have reached their highest point in quite a while. This sort of uncertainty is not beneficial to your current situation, especially if you’re facing foreclosure. The federal government has instituted many plans to lower interest rates, including using $600 billion to get more buyers into the market in hopes of stabilizing home prices and reviving the economy. However, the federal government’s effectiveness has gone up and down.
Loan modification attorneys can be a trusted ally in the battle to keep your home. A California loan modification attorney can give you the lowdown on your situation, as well as the many options available to you. While getting an altered interest rate may be to your benefit, it could also be that other options work better for your situation. Lowering your principal balance could be an option, and it would also be a great long term solution. Changing the length of the loan could also be a great long term option, and both of these would lower your monthly payments.

If you are facing a foreclosure, or if you are facing some other type of financial crisis, a loan modification could be your best option. These days, almost everyone is watching the economy, waiting for their own situation to worsen. Unfortunately, these are tough times, but a loan modification attorney could help out quite a bit.

Visit us at http://www.feldmanlawcenter.com/ or call 800-588-0425.

About Feldman Law Center
The Feldman Law Center is one of California’s top loan modification companies, providing excellent service to our clients and is completely focused on keeping everyone one of our clients in their homes. Our mortgage loan modification experts work tirelessly to provide every homeowner we work with the information, guidance and support they need to modify their mortgages and keep the homes they’ve worked to buy.

About Loan Modifications
If you’re unfamiliar with what a loan modification is, a home loan modification is quite possibly the most effective tool you can utilize if you are behind on your mortgage, and are in the midst of a financial hardship, in order to save your home from interesting foreclosure. A loan modification is literally is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). In general, any loan can be modified. The Feldman Law Center knows every law in California (and the country) that may be able to keep you in your home. Lenders would rather renegotiate the terms of your loan, and possibly even negotiate a principle reduction, than let the house go into foreclosure.With years of experience negotiating with lenders, as well as years of experience keeping people in their homes, the Feldman Law Center is one of the most experienced loan modification firms in all of California.

Resources:
Feldman Law Center: Profile – Business Exchange
Feldman Law Center
Feldman Law Center – The New York Times gets it About Half Right
Feldmanlawcenter.com – Feldman Law Center Company News

Feldman Law Center - News by Feldman Law Center -- In today’s unpredictable economy, you can’t take anything for granted. You don’t know if you’ll have a job tomorrow, if you will be asked to take an unpaid vacation, or if the interest rate on your home mortgage will spike. What if gas prices soar? Will a trip to the grocery store for your family’s weekly necessities cost more? So much of the territory that our country, and the world, is venturing into is unchartered.

While we don’t know what the future holds, we can try to plan appropriately for it. How can you prepare yourself for future expenses, save money, or spend less in your current situation? Many wise people are considering these questions now.
In addition to planning for the future, we can also take advantage of the opportunities that we are offered today. One opportunity being offered to many troubled homeowners is a home loan modification.

President Obama’s housing plan involves offering many people a chance to modify their home loans. If a distressed homeowner lives in his or her property, falls within the requirements for the amount they owe, and meets additional criteria, they could be eligible for the government plan. The FDIC even has a “mod in a box” home loan modification program that they are hoping to enlist lenders in taking part in. Even if you don’t take advantage of the government’s specific plans, and are a homeowner in a volatile financial situation, you can still opt to modify your home loan.

With the help of the Feldman Law Center, you can have a better chance at protecting your financial future. You do not know when home loan modifications will start to taper off, how long you will be at your current job, or how your taxes could be changed in the future. If you are concerned about your adjustable rate mortgage, or a potential bankruptcy or foreclosure, you need the help of experienced attorneys on your side.

The federal government as well as many state governments, are talking about increasing taxes. What is the potential fallout of that? Given the uncertainty we are facing now, it is hard to guess what higher taxes might result in. But perhaps homeowners would have to pay higher property taxes, or perhaps additional fees and penalties could be added to home loan modifications.
Debates on the efficacy of taxes, both low and high, are inevitable. Chances are good that tax rates and structures will soon change. Will this be good for your current situation? Will you pay more, or less? Will you be a part of the population paying for the benefit of others, or will you be the beneficiary? Obviously, this depends on many factors. It doesn’t seem prudent to generalize widely about this. Every situation will end up being different.

It might not be a good idea to wait for a loan modification. They are available now. Call the Feldman Law Center today. We specialize in loan modifications and are ready to assist you today.
Visit us at http://www.feldmanlawcenter.com/ or call 800-588-0425.

About Feldman Law Center
The Feldman Law Center is one of California’s top loan modification companies, providing excellent service to our clients and is completely focused on keeping everyone one of our clients in their homes. Our loan modification experts work tirelessly to provide every homeowner we work with the information, guidance and support they need to modify their mortgages and keep the homes they’ve worked to buy.

About Loan Modifications
If you’re unfamiliar with what a loan modification is, a mortgage loan modification is quite possibly the most effective tool you can utilize if you are behind on your mortgage, and are in the midst of a financial hardship, in order to save your home from interesting foreclosure. A loan modification is literally is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). In general, any loan can be modified. The Feldman Law Center knows every law in California (and the country) that may be able to keep you in your home. Lenders would rather renegotiate the terms of your loan, and possibly even negotiate a principle reduction, than let the house go into foreclosure.With years of experience negotiating with lenders, as well as years of experience keeping people in their homes, the Feldman Law Center is one of the most experienced loan modification companies in all of California.

Feldman Law Center – News by Feldman Law Center – -If you check the stock market on Monday, people will be saying the market is up and everything is looking better financially.  If you check the market on Tuesday, all economists will be in complete agreement that the world is going to end in 48 hours.  What does this mean for you?  No one, not even the “experts,” have any clue where the economy is going or how long it will take for the country to climb out of this “Great Recession.”

Real estate has been a nightmare for many people as well.  One minute the housing markets look great, and yet with unemployment at a 25 year high and climbing, no one has any idea what the future will bring.  This affects available homes, available credit, interest rates and more.  There is very little sure footing in today’s market, but with a loan modification, you could be closer to security than many other people.

Five Steps

Here are five steps you can take to get a loan modification:

1.    Do your homework – Read as much as you can about loan modifications.  While at work, while watching the ball game, while you are eating lunch – read and learn about loan modifications.  This will only enhance your understanding of the industry and give you a sense of what a loan modification can do for you.

2.    Get your ducks in a row – It is important to have your financial paperwork in order to get the mortgage loan modification that is going to work for you.  That means tax returns, pay stubs, bank slips and more, all from the last few years.  A bank is going to want to see your financial history, as well as your current financial situation in order to make a decision.

3.    Talk to your spouse – You cannot get a home loan modification without having the assistance and agreement of your spouse.  While your financial situation may be dire, you must work together in order to make this happen.

4.    Find a loan modification company – You can always attempt to get a loan modification on your own, but having a highly qualified loan modification attorney working with you might be the necessary help you need.  Knowing how to fill the application out, how to file the paperwork, how to organize the communication between your side and the lender and much more can all be helped by a loan modification attorney.  You wouldn’t go to court without an attorney, so do not try getting a loan modification without an attorney.

5.    Calm yourself – It is important to be patient and understanding with yourself and your situation while trying to get a mortgage loan modification.  It can be very easy to overreact and lose your calm.  In fact, more marriages end because of financial troubles than for any other reason.  So, giving yourself, your spouse and everyone else around you some slack will keep your relationships and your life in a good place.

Contact a loan modification attorney today, and begin the process of staying in your home.

About Feldman Law Center
The Feldman Law Center was founded for the purpose of negotiating loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop or avoid foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each loan modification we negotiate on the behalf of the families we represent.

Having negotiated over 500 attorney driven loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing.

The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425 or visit www.feldmanlawcenter.com

Resources:

Feldman Law Center: Profile – Business Exchange

Press Release – The Feldman Law Center’s Code of Ethics and Practices

Loan Modification – Feldman Law Center

Feldman Law Center, Mission Viejo CA 92691

Feldman Law Center – The Cream Rises in Loan Modifications

Feldman Law Center – Ten Tips for a Successful Home Loan Modification

Feldman Law Center – Saving Thousands with a Loan Modification – Debt Settlement Combination

Feldman Law Center – Mission Viejo, CA, 92891 – Citysearch

Feldman Law Center – The New York Times gets it About Half Right

Feldmanlawcenter.com – Feldman Law Center Company News

Tags: mortgage loan modification, loan modification companies, home loan modification, loan modification agreement, loan modification company, hardship loan modification, California loan modifications, fdic loan modification, home loan modifications, loan modification programs, loan modification advice, loan modification help, loan modification process

Feldman Law Center – News by Feldman Law Center — Hope and optimism emanating from the announcement of the Obama Administration’s “Making Home Affordable” plan have been replaced by the cold reality that the program has gotten off to start deemed by industry watchers as “anemic”. After almost four months since President Obama first announced the $75 billion mortgage rescue effort, the administration continues to tweak the program in an attempt to reach its originally stated objective of saving up to 5 million homeowners from foreclosure. Standing between the anemic start and lofty goals of the program are four roadblocks:

1) Overloaded loan modification processors – While the specifics of the plan were released in the first week of March, lenders couldn’t start handling applications until systems were re-programmed and processors were brought up to speed, which took an additional four to six weeks. Processors were immediately buried with stacks of applications that had been accumulating during the conversion to the new guidelines. Participants in the process report that servicers are still digging out from the initial rush as applications continue to flood their desks. Troubled borrowers, many backed up against the possibility of foreclosure, have become increasingly frustrated to the point where they have abandoned the process to retain their own legal assistance.  JP Morgan Chase spokesman Tom Kelly recently said of the ramp-up, “It’s an enormous task. We’re moving quickly, although not as quickly as an individual might wish.”

2) Investors – The massive sums of money that supported the real estate/mortgage boom came from investors on Wall Street, pensions, and other institutions. Servicers say those investors are now balking at some of the terms being presented when a loan needs to be modified. The net present value test, a little known aspect of the plan, allows for a calculation to determine whether the greater return for investors will be achieved via modification or foreclosure. In the modification versus foreclosure decision, investors have been threatening lawsuits against servicers when the servicers are deemed to not be acting in the best interests of their investors. The threatened legal action adds another layer to the mortgage loan modification process and can draw out the approval process even more. The “safe harbor” bill recently passed by Congress was intended to alleviate that logjam by protecting servicers from investor lawsuits but it’s likely that lawsuits will arrive on the servicers doorsteps anyway, safe harbor or not.

3) Lenders – Lenders are caught in a three sided bind between the above mentioned borrowers/investors and their own capital structure. No longer required to mark their loans to market, they can carry the value of the loans in their own portfolios at values they can rationalize, whether factual or not. Loan modifications could generate reviews of portfolio values, and nobody wants to go there in the current environment.

4) Unemployment – According to John Taylor, head of the National Community Reinvestment Coalition, “Unemployment is becoming a bigger factor than almost anything.” When sub-prime mortgages started blowing up it was attributed to the risks inherent in lending to lower quality borrowers. Increasing unemployment, in addition to taking down the lower quality borrowers, is now hitting prime mortgages. In fact, primes are now going into default at a much faster rate than sub-primes as previously solid borrowers are now being affected by the contracting economy.

Of the four roadblocks, the toughest barrier is unemployment due to the fact that, regardless of credit scores, if a homeowner doesn’t have a job a loan modification isn’t going to help. Short sales, cash for keys, or foreclosure become the next options. At that point every side of the three sided bind ends up on the losing end.

Resources:


Feldman Law Center: Profile – Business Exchange

Press Release – The Feldman Law Center’s Code of Ethics and Practices

Loan Modification – Feldman Law Center

Feldman Law Center, Mission Viejo CA 92691

Feldman Law Center – The Cream Rises in Loan Modifications

Feldman Law Center – Ten Tips for a Successful Home Loan Modification

Feldman Law Center – Saving Thousands with a Loan Modification – Debt Settlement Combination

Feldman Law Center – Mission Viejo, CA, 92891 – Citysearch

Feldman Law Center – The New York Times gets it About Half Right

Feldmanlawcenter.com – Feldman Law Center Company News

About Feldman Law Center
The Feldman Law Center was founded for the purpose of negotiating loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop or avoid foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each loan modification we negotiate on the behalf of the families we represent.

Having negotiated over 500 attorney driven loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing.

The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425 or visit www.feldmanlawcenter.com

Tags: mortgage loan modification, loan modification companies, home loan modification, loan modification agreement, loan modification company, hardship loan modification, California loan modifications, fdic loan modification, home loan modifications, loan modification attorney, loan modification programs, loan modification advice, federal loan modification law, loan modification help, Principle Reduction, loan modification process