Helping You Save Your Home
If you are facing home foreclosure anywhere in the United States or in southern California, you may be able to save your home or eliminate principal balances through renegotiation of your home mortgage.
At the law firm of Weintraub & Selth, APC, mortgage loan modification is one of the tools in our toolbox to help people burdened with mortgage debt. Our lawyers represent distressed homeowners across the United States and in Los Angeles, Santa Monica, the San Fernando Valley, South Bay and surrounding communities in southern California.
What is Mortgage Renegotiation?
Many California homeowners were deceived by their lenders and put into loans they couldn't afford. Others have adjustable rate mortgages (ARMs) with balloon payments they can't make. Still others have faced a reduction in their work hours (full time to part time) or their salary. Other have had a spouse laid off through downsizing. Our lawyers will review your cash flow and debt and determine if you could afford to stay in your home if the terms were modified.
There are many ways to renegotiate mortgages to make the payments affordable. Here are some examples:
- Changing the interest rate (for example, from 8 percent to 3 percent)
- Placing your past-due payments (or arrearage) at the back end of the loan
- Extending the terms of your loan (for example from 30 years to 40 years)
- Changing an ARM to a fixed rate mortgage
- Preventing an increase in an ARM
- Reduction in principal
If you lost your job and can't afford even modified payments, our lawyers can negotiate a short sale or deed in lieu of foreclosure on your behalf. We also offer bankruptcy protection if that is the best solution for you and your mortgage debt problem.
Do I Need an Attorney to Negotiate a Modification?
Our lawyers have extensive experience negotiating distressed debt for clients. As attorneys, we negotiate both persuasively and effectively on your behalf. We request that our clients contact us before submitting any documents to the bank or creditor. But even if you have done so, we can still help.
Attorneys often charge no more for mortgage loan modification than so-called "foreclosure consultants". Unlike attorneys, foreclosure consultants are unlicensed, largely unregulated and do not have a legal duty to protect your interests.
A Warning to California Homeowners: Don't fall for a mortgage renegotiation scam with a foreclosure consultant who promises to negotiate with your mortgage company in exchange for an up-front payment. Up-front payments for foreclosure consultants are against the law in California. In addition, often these people are simply unemployed real estate agents or loan brokers with no previous experience negotiating settlements on behalf of clients, something the lawyers of our firm have been doing successfully for clients for years. Learn more about why you should hire an attorney.
For more information: To discuss mortgage loan renegotiation with one of our Los Angeles attorneys, call (310) 584-7702 ((866) 572-2423 toll free) or complete the contact form on this Web site. Se habla español.
