Legal Guidancce for Loan Modification in Atlanta
Using Loss Mitigation Techniques to Save Your Home
Are you behind on your mortgage payments? Do you think that lowering your
interest rates could significantly improve your financial situation? Are
you worried that
foreclosure could be on the horizon if something is not done, and done fast?
First and foremost, know that you are not alone, and the professional Atlanta
loan modification attorneys at Schuyler Elliott & Associates, Inc
are here to help you. Using our
20+ years of experience, we can discuss your legal options and discover a way for you to stop
or delay your foreclosure using loan modification.
Be sure to
contact our team right away – time is of the essence in these cases.
New Regulations Providing New Hope
In the past, you might have heard people claim that there is nothing that
can be done to modify a loan and otherwise prevent your losses as you
get behind on mortgage payments. It is true that banks and lenders are
hard-pressed to budge or negotiate, often backed by detailed contracts,
but new forms of regulations may be changing all that. The Consumer Financial
Protection Bureau (CFPB) has recently enacted new mortgage servicing guidelines
aimed at assisting homeowners in need. While many of these have not yet
been tested in court, we are excited to say that our firm has already
prevented a foreclosure based on the lender’s failure to follow
the CFPB’s newly-defined regulations.
How to Pursue a Loan Modification
Even in the worst case scenarios, there may be a way to find peace of mind
and stability again through requesting a loan modification, especially
now that the CFPB is stepping in. No matter how you look at the situation,
nothing will be done if you do nothing.
When you team up with our loan modification attorneys in Atlanta, we can
help you with all aspects of your request, including:
Reanalysis: We will want to totally reexamine your finances, necessary expenditures,
and your loan or mortgage. This also includes collecting clear documentation
that can be used as evidence of these aspects.
Devising a plan: Your lender is not obligated to meet you halfway and do some of the work
for your loan modification; all of the responsibility falls on you. This
means you need to be the one to plot out what should be modified, why,
and to what extent. Keep in mind that you have to set realistic expectations
and remember that your lender is looking to make a profit. In short, do
what is fair for both of you.
Meet and greet: The best laid plans will not mean anything without proper execution. Oftentimes,
this means being able to meet with your lenders in person and persuasively
argue for the plan you have created. If you do not have an in-depth understanding
of foreclosure law, this could be an uphill battle better left in the
hands of a professional lawyer.
Keeping up to speed: There is nothing that says that your loss mitigation strategy is going
to be a huge success right away. Expect to have to negotiate or go through
a back-and-forth with your lenders. Stay in touch with them and touch
Contact Our Team to Make the First Step
If you want to
avoid foreclosure, you have to be prepared to work on your side of the arrangement. However, you do
not have to bog yourself down with stressful decisions and heavy lifting.
Instead, let our highly-experienced Atlanta foreclosure lawyers deal with
the legwork and red tape on your behalf, freeing you up to focus on other
matters, such as your family or your business. This is our passion and
one of our greatest areas of practice, and we would be happy to show you
what that sort of familiarity and commitment can do you for through a
free initial consultation.
Do not hesitate to call 24/7 at 770.400.9102!