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Loan Modification Lawyer in Irvine, CA

Explaining Loan Modifications & What They Can Do for You

Many people flock to California for the ideal weather and the wealth of opportunities. It is a great location to own property and plant your roots. Unfortunately for some, the turn in the real estate market left countless homeowners across the state dealing with underwater mortgages. The bad economy has also left many people out of work or with a reduced income and they are no longer able to meet the mortgage payments they had once agreed to. For those that are in this position, there may still be options that you can discuss with an Irvine bankruptcy attorney.

Falling behind on your mortgage doesn't mean that you have to lose your home. A loan modification is the chance to work with lenders to come to an agreement. A solution can be prevented to them to modify the terms of a loan so that it becomes more affordable and more realistic for you to make the payments. This can allow you to remain in your home while still paying smaller amounts. Lenders are not always sure about how to work these new terms so it is important to work with an attorney who knows how to negotiate and knows how to develop these plans.

In the past lenders were not always willing to provide the option of a loan modification. They were quicker to seek another alternative, or even foreclose on a home. Today, with the large amount of people that are in this same position of being unable to meet the high cost of a mortgage, lenders have become more open to the idea of making an agreement that will allow them to receive some form of payment. In order to push this matter forward and aid homeowners, the government has provided incentive to lenders to further push them to make these deals.

Working With a Loan Modification Attorney

When you are considering the option of a loan modification, it is often best to speak with a qualified professional first. The team at Peter Rasla & Associates, P.L.C. offers a free case evaluation. They will assess the details of your case and better determine if a loan modification, bankruptcy or other option is the best choice for you. These situations are already costly enough and you do not want to put yourself at risk. By working with someone with immense experience, you stand a far better chance at meeting success the first time around. Working with a bank one on one can be challenging to say the least. You will be put on the back burner as a low priority, will be left without guidance and will be dealing with a ton of paperwork. When banks know that you have legal representation, they are often more willing to work with you and your attorney can handle any difficult tasks.

Their team has a vast amount of experience and they have guided many individuals and families through the process to find a solution that allows them to remain in their home while meeting their financial obligations. They are familiar with the many aspects of this industry and are able to find positive resolutions such as lowering interest rates and reducing a principal balance. They have a thorough knowledge of the laws regarding loan modification and are able to use this to the advantage of those they serve. It is important to work with a reputable professional, and there are many scam companies out there that you will want to avoid. Call the firm today and get started, or fill out a case evaluation form on the website.

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