Category: Loan Modification

OC Real Estate Lawyer Answers Frequently Asked Questions about Loan Modification

A loan modification is a permanent change of the terms of a loan. It allows the loan to be reinstated and ideally will result in a payment plan that the borrower can afford. Can anyone apply for a modification of his or her loan? Banks do not offer modifications to everyone who wants them. Each […]

Understanding the Loan Modification Process

Banks lose money when their customers are unable to make payments. Therefore, they are often willing to work with homeowners to ensure that payments keep coming in. If you are struggling to keep up with your mortgage payments, it may be in your best interest to consider getting a loan modification. It is a great […]

How Can a Loan Modification Lawyer Help You?

Financial matters can be confusing and stressful. When fighting to keep your home, it may help to have an experienced Orange County real estate lawyer on your side. It is particularly important that you have support from a loan modification specialist if you have reached a dead-end with your lender. After attempting loan modification independently […]

Foreclosure While Current on Loan Modification Payments

After falling behind on mortgage payments, an Altadena family was relieved to have their lender, Ocwen Financial Corporation, agree to a loan modification allowing them to keep their home, or so they thought. The family had worked hard to submit all necessary documents and information to their lender and were eager to accept the loan […]

Mortgage Dual Tracking Foreclosure

Many homeowners have heard the term “dual tracking” but many don’t fully understand this concept, which was made unlawful by the California Homeowners Bill of Rights (2013). Dual Tracking is a lender or mortgage servicer simultaneously negotiating with the homeowner on a modification, while at the same time foreclosing on the subject property. Homeowners Bill […]

Bank of America Makes Major Loan Modification Changes; The “Nationstar Experience”

After recent allegations by former employees and whistleblowers regarding serious loan modification abuses by Bank of America, it appears substantial changes have been made.  Most notably, a huge portion of Bank of America’s loan portfolio has been transferred to Nationstar.  Bank of America and Nationstar were most likely working on the deal to transfer loans […]