There is a lot of talk today about unfair loan modifications. In this economy, mortgage loan modification is a good option for many people struggling to repay their debts, but reports of predatory modification companies have some homeowners afraid to act. Some individuals have been taken advantage of, particularly in the California loan modification scams, by companies who take their money and provide no results. With the help of qualified, respected attorneys like those at Feldman Law Center, however, home loan modifications can save borrowers from a lifetime of unmanageable debt.
There are many options for loan modification, and it is wise to seek out the best
possible loan modification advice. For example, you may be wondering about federal
loan modification law. The FDIC loan modification program may be able to help you,
but it may not. Unethical modification companies may not tell you about all of your
options, preferring instead to make empty promises and return nothing. The attorneys
at Feldman Law Center, however, know exactly which homeowners can be helped by federal
loan modification and will gladly recommend government assistance if that is what
is right for your situation. More likely, however, you will need to consider other
options, as the FDIC's loan modification program promises help to only to a specific
segment of homeowners.
If you are struggling to make ends meet and saddled with unrealistic payments, principle
reduction, rate reduction, or another form of modification to your loan may be possible
without federal assistance. This indeed ought to be a key indicator of the trustworthiness
of any loan modification company. It is crucial to examine your own specific situation
to determine what kind of help would be most beneficial to you. Any company that
charges an unwieldy up front fee with no apparent concern for your circumstances
is likely to cause more harm than good. Do not enter into any loan modification
agreement with anyone unless you understand precisely how they will help, and they
have demonstrated their ability to negotiate specifically on your behalf.
The loan modification process can be frightening, but it is possible to find debt
relief in many situations. Another key to avoiding unethical or untrustworthy loan
modifications is to pay attention to what you are being promised. Any company that
can claim to be able to get you a specific rate reduction or to reduce your principle
by a specific amount before judging your circumstances or negotiating with your
lender cannot be telling the truth. Without speaking to a lender about a specific
loan, it is impossible to know how much can reasonably be promised in the way of
principle reduction or interest rate reduction.
Hardship modification has become necessary for many people, and finding a trustworthy
loan modification attorney can be very tricky. You can, however, place your trust
in the Feldman Law Center. Our loan modification programs can provide you with help
to get your debt back under control. Unlike the predatory loan modification companies,
we will not take any action that does not benefit you. With loan modification help
from our experienced attorneys, your unrealistic payments could become a thing of
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