Orange County Loan Modification Lawyer
What are some options for my mortgage?
With the current real estate climate and the mortgage crisis in the country
that has been ongoing, many Californians across the state are getting
into dangerous situations with their house and the loans they have used.
When an individual or family finds themselves in a situation in which
they owe more to the mortgage company than the house is actually worth,
that is an upsetting and financially hazardous situation to be in. Late
fees, past-due fees, high interest rates, the failing economy and other
financial issues can result in a situation in which you find yourself
unable to pay your mortgage payments as expected.
With the help of a qualified and compassionate Orange County loan modification
lawyer, you can take steps to control this problem once and for all. The
skilled negotiators at The Law Office of Bruce C. Bridgman will fully
investigate your situation in order to help you get your loan modified
to a more manageable amount. Instead of doing nothing about your situation
and getting further and further in debt, you can take a proactive stance
against the bank or mortgage company and renegotiate the terms of your loan.
Loan Modification FAQ
If you're considering a loan modification as an alternative to foreclosure
or bankruptcy, you may benefit from some answers to some frequently asked
questions about the process. The
U.S. Department of Housing and Urban Development has provided a helpful list of answers for those considering a modification.
Q: Will my lender conduct a property inspection before approving my loan
A: Yes, according to Mortgagee Letter 2000-05. If the lender believes that
your property may be below standards then they will conduct an interior
Q: When calculating a new interest rate, which date is used?
A: Your lender will use the date on which they approve your loan modification
to determine the appropriate interest rate for your new mortgage.
Q: Can my lender capitalize an escrow advance for the purpose of homeowner
A: According to the HUD handbook, "Lenders must also escrow funds for
those items which, if not paid, would create liens on the property positioned
ahead of the FHA-insured mortgage."
If you're choosing loan modification as the option that best suits
your needs, an attorney can prove to be an immense benefit to you. Our
firm knows the procedures necessary to complete a successful loan modification
for qualifying individuals. Even if you do not qualify for a loan modification,
there are likely other options available to you so that you can bring
your debts back to a manageable level.
Why choose loan modification?
When you are able to change your loan to an amount that is more fitting
your circumstances, the stress and anxiety of financial woes can be greatly
reduced. Many people do nothing about their financial problems and that
only ends up in worse issues, possible
bankruptcy – which could have been avoided if they had taken the steps to modify
their loans and
consolidate their debts when they had the chance.
The Orange County loan modification attorneys at The Law Office of Bruce
C. Bridgman are compassionate to your needs yet very aggressive when it
comes to fighting for you. They will do everything necessary to get your
loan into a state that you can easily manage. With the help of an experienced
and seasoned loan modification attorney, you could get excellent results.
You can also contact our firm directly to have your case evaluated by
a skilled attorney.
Don't hesitate to call today!