(312) 818-6700

Help With Loan Modification Programs

Posted by CTM Legal Group | Jan 07, 2015 | 0 Comments

There has been a lot of news lately about various loan modification programs available to underwater and in distress homeowners.

Terms such as HAFA (Home Affordable Foreclosure Alternative) and HAMP (Home Affordable Modification Program) can be confusing to the average homeowner.

Using an experienced attorney who will guide and expedite you through the process is highly recommended.  Some common objectives include reducing the interest rate, forgiveness of a portion of the principal balance, converting from a variable interest rate to a fixed interest rate, or extending the length of the loan.

An attorney can advise you on filling out the application, assist with providing the necessary documentation, and help you properly explain your hardship in the application.  Additionally, an attorney will verify the form's accuracy and submit the form to the lender. Certain times, a lender will pursue foreclosure even after a loan modification packet is submitted in violation of the law.  An attorney can enforce your rights, by stopping foreclosure proceedings while your application for modification is being considered.

An attorney can also appeal your modification request, and pursue alternatives.  An attorney can pursue more favorable terms.     

Call CTM Legal Group to discuss how we can help with your loan modification!


About the Author


There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

The CTM Legal Group Is Here for You

At the CTM Legal Group, we focus on Commercial Litigation, Consumer Law, Corporate Law, Criminal Matters, Debt Defense & Bankruptcy, Family Law, Immigration, Labor & Employment, Municipal Law, Probate, Real Estate, Tenant’s Rights, Wills & Trusts, and Workers’ Compensation / Personal Injury and we are here to listen to you and help you navigate the legal system.

Contact Us Today

The CTM Legal Group is committed to answering your questions about law issues in Chicago, Illinois. We offer consultations and we'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.