Attorney-Assisted Loan Modification

Attorney-Assisted Loan Modification

An attorney-assisted loan modification can be a smart foreclosure defense option for homeowners who are behind on their mortgage payments and are looking to achieve a loan modification. The loan modification process can be a difficult and strenuous process, so having the help of an experienced attorney can help facilitate the process.

An attorney-assisted loan modification helps by guiding homeowners through the loan modification process with the help of an experienced attorney. These attorneys advise homeowners on any required financial documents and paperwork involved and walk individuals through negotiating with mortgage lenders and submitting paperwork. It is important to note that an attorney-assisted loan modification typically costs significantly less than a full service loan modification program with a foreclosure defense attorney.

How Does an Attorney-Assisted Loan Modification Work?

An attorney-assisted loan modification works as a sort of DIY loan modification program. Experienced attorneys are tasked with helping homeowners through the loan modification process with their mortgage lenders. In many cases, homeowners may have difficulty communicating with mortgage lenders, gathering the necessary documentation together and getting approved for a loan modification.

An attorney-assisted loan modification helps homeowners by outlining all necessary paperwork and financial documents involved. Next, attorneys can review how the paperwork is filled out and ensure everything is filled out correctly. After that, the attorney can review the hardship letter and advise on when and where to submit the loan modification packet.

Attorney-Assisted Loan Modification Advantages

An attorney-assisted loan modification may offer numerous benefits to homeowners who are considering applying for a loan modification, but aren’t quite certain how to start:

  • Attorney-assisted loan modifications can cost significantly less than a full service loan modification program with a foreclosure defense attorney.
  • Homeowners can submit their loan modification request with the assurance that it has been reviewed by an attorney and all of the required paperwork is included.
  • Attorneys can help by teaching homeowners about how the entire loan modification process works from start to finish.