Why Have KEL Attorneys Handle Your Foreclosure or Loan Modification

It is possible for you to work on your own with the bank to come to a mutually amicable solution to your foreclosure problem, however you must also keep in mind that time is of the essence in dealing with a loan modification. While you’re trying to deal with the lender, time is slipping away.

Many lenders will continue with the foreclosure process while you negotiate a modification or other alternative. Your denial of a modification may not occur until the day before the foreclosure sale. If you do receive a modification offer, the offer may be unfair or possibly contingent on you giving up important rights.

There are no hard rules on what lenders are willing to do, so it would be very helpful to have a skilled attorney represent you and present your situation in the best way possible. An attorney will review your financial information and help you come up with a strategy to reach your goal, whether it’s to modify your loan to a fixed or lower rate, add back payments to the principal, temporarily reduce payments, or just help give you enough time to sell your home or negotiate a short sale or other alternative.

An attorney can also review your loans and lenders’ actions to see if there are any violations of HOEPA, RESPA, Reg B, the Fair Debt Collections Act, Fair Credit Reporting Act, acts regarding subprime loans, predatory lending acts or any of the other consumer/borrower protections found in Florida and/or Federal law. There are many rules and regulations out there that protect borrowers and consumers that you may be able to take advantage of.

Finally, an attorney often has contacts in Loss Mitigation, Short Sale, and other departments within lenders which can increase the efficiency of you loan modification review and so that you don’t have to spend your valuable time on hold with lender departments just to have your modification paperwork lost or juggled from one department to another. An attorney will make these calls, negotiate your position, propose many alternatives, advise you at each juncture and keep you updated throughout the process.

You may only have one shot at a loan modification or other alternative, therefore by employing the services of KEL Attorneys you can rest assured that all possible options have been explored.