What if I am in California or another state that requires lenders to modify loans before commencing foreclosure?
As of September 8, 2008 in California (and in other states that have foreclosure reform laws – Google your state and ‘foreclosure reform law’), if your loan originated between 2003 and the end of 2007 and is secured by your principal residence, before your lender can record a Notice of Default, they must offer to modify the terms of your loan. This is an ideal opportunity to modify loan terms into a loan that works for you long term. We highly suggest you engage an attorney to assist you with this process. Since this is a lender requirement, the fees the attorney will charge should be far less than a non-lender initiated modification. For instance, we charge only $995.00 for this type of modification. What is a forensic review? A forensic review is an attorney audit of your loan documents and the circumstances surrounding your loan(s) to determine if your lender violated lending laws when they made the loan to you. The legal terminology for this is engaging in predatory lending practic
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