Homeowners not familiar with loan modification may wonder what can lawyers do or why they would need legal assistance. There are multiple reasons a lawyer may be sought; not just after the process when a homeowner could be losing their home due to foreclosure but even before and during the process. A lawyer can give homeowners pertinent details relating to legal rights, review the process in detail, and even represent you on your behalf during the modification process.
There has been the question of whether or not a loan modification attorney is needed, especially since there are free government-approved housing counselors available to consult with homeowners. Some lenders may claim it’s unnecessary to obtain such services but lenders have their own legal counsel to help protect them so why shouldn’t homeowners have the option of getting their own legal representative?
Loan modification attorneys have been helpful in many cases. Homeowners gain better understanding of their rights, gain useful knowledge to help them get through the modification process, negotiate terms with lenders and even stop foreclosure. Borrowers may also get a chance to catch up on mortgage payments, have payments reduced and have a better understanding of what to expect during the process.
Homeowners facing foreclosure may benefit from legal assistance by having their mortgage information reviewed. A legal professional may review your foreclosure situation to make sure procedures have been followed accordingly as well as catch any errors that may have been made by the lender.