Sacramento Loan Modification Lawyer
How Loan Modification Works
California is one of the states that has been hit with the worst number of foreclosures in the nation. Coming in as the third worst state in number of foreclosures, it is no surprise that so many homeowners are in need of a loan modification. In addition to falling behind on their mortgages, homeowners have been hit with the sudden loss of value in their homes. Now they are not only behind on their mortgage, but paying on a loan that is well in excess of the value of their home. This fact alone would make it difficult to keep up payments, but when you include the unemployment, divorce, and unexpected medical bills that have also hit many individuals, it is clear you need someone to help you cope with the circumstances. Your best option is to contact Bruce C. Bridgman, Sacramento Loan Modification attorney, to advise you on the best alternatives to foreclosure.
Although you do not have to be delinquent to request a loan modification, you do need to qualify by having some type of a financial hardship that prevents you from continuing to make the normal payment. In these hard economic times, this is not difficult to do. If you are delinquent on your mortgage, there is a set procedure your lender will take prior to foreclosure. You will obviously receive late notices, which include penalties and fees. Once late for two to three months you will eventually receive a Notice of Default which will give you an additional forty days to bring your account current. If you are unable to do so, a Foreclosure Notice will be issued advising you of a pending sale sometime in the future. At this time, with the vast number of foreclosures occurring, it may take some time before they actually proceed with it. However, it depends on your lender. Some are acting on schedule, so it is important to heed the deadlines given on these notices. When you obtain the services of Bruce C. Bridgman, we will begin the loan modification process by contacting your lender directly to negotiate on your behalf. Although you may attempt this yourself, be aware that there are thousands of individuals contacting the Loss Mitigation departments of these lenders, and if you do not completely understand your rights, you likely will either not get a loan modification or will get a plan that is not to your benefit, but the bank's.
Sacramento Lawyer Handling Loan Modifications
With 30 years of legal experience, Attorney Bridgman can expertly assist you with your Loan Modification needs. Due to the volume of calls that lenders and bankers are receiving, you will not be able to obtain the results you need without the aggressive and knowledgeable attorneys from our staff contacting them on your behalf. We have the patience and resources necessary to get to the right department and insist on the loan modification you need to save your home from foreclosure.
Because a Notice of Sale can trigger the loss of your home, we will work aggressively to stop this procedure and delay it as long as possible. While we negotiate the terms of your loan modification, we will keep you updated on a regular basis as to our progress. We are aware of your concern and stress regarding the possible loss of your home and understand what are responsibilities to our clients are. The Loan Modification procedure will allows us to negotiate for a lower interest rate, reduction of your principal balance, waiving of delinquent and penalty fees and even a change in the length of your loan. The goal is to obtain a lowered monthly mortgage payment that is within your financial budget and will allow you to remain in your home. Our legal team prides itself in having helped numerous homeowners keep their homes and we look forward to doing the same for you.
Contact Sacramento Loan Modification Attorney Bruce C. Bridgman for assistance with your Loan Modification