It is not true that a real estate attorney works better than a loan modification attorney. However, a loan modification specialist would be able to take care of your problem in a better way. If you are having problems with your mortgage, it may be the time to contact a loan modification firm.
What Can a Loan Modification Attorney Do For You?
The best thing a person who needs assistance for a loan modification can do is to contact a loan modification attorney. Such an attorney can work to make it easier for a person to get a mortgage loan modification. It can be a useful service for those who are having a tough time with their lenders. An attorney will present the data of their client to a lender and offer a proposal for a loan modification. The attorney will also have an argument that relates to the losses that the lender may face if they choose a foreclosure instead of a modification.
The attorney can propose a variety of things. The attorney can propose an extension on the repayment time of a loan or the reduction of an interest rate. Some attorneys can successfully pursue principal reductions.
What Can a Real Estate Attorney Do For You?
A real estate attorney is the person to follow when you simply cannot manage your mortgage lender on your own. When you agree to the terms of a mortgage and sign the documents for it, you position yourself for a number of years to repay the loan. If you cannot maintain the agreement you set originally, the lender has the right to sue you for the funds you owe. If you cannot pay, the court may force a foreclosure to occur. In this process, the property is sold so that the lender can recoup some of their money. If you are in this position, it is the right time to talk to a lawyer about the options available for you.