What the bank doesn't want us to know in most cases, the loan modification terms the banks are willing to give you voluntarily when you modify your loan directly will be a VERY standard term and will not be the best outcome. I am actively working for a financial distress group of professionals, in my personal daily experience it has become apparent that a good and loyal company is most often able to negotiate for much better modification terms for clients. It is very typical for lenders to normally neglect to give relief to a borrower who attempts to engage directly in the dealings without representation.

Pretty much it is like battling a court case with your opponent outside of the court room. So, not so good in comparison to the modification terms you will receive when hiring an attorney who specializes his profession in foreclosure defense and who is highly educated in the practice of law and the study of it which is ever changing. The bank is aware of the borrower knowing very little and they do know they are being cornered when a professional steps in.

If you are serious about keeping your home, I will always highly encourage homeowners to order a Forensic Audit which is the most effective methods used to show Fraud and other critical Mistakes made on behalf of the Lender during the origination and closing. Forensic Audits show things like Forgery or Violations of the R.E.S.P.A. (Real Estate Settlement Procedures Act), T.I.L.A. which stands for the Truth in Lending Act, which is one among others in relation to Federal Guidelines and Regulations which must be strictly adhered to by professionals working in the Mortgage Lending Industry.

Once discovered, these violations can become essential to the defense of your home and modification of your loan. Lenders are often much more inclined to work with homeowners to give loans in their best interests when there is an attorney behind them with enough artillery in their war chest to influence a judge to rescind or take the loan back from the bank.

Please remember that I am not an Attorney and any information I provide is not to be taken as Legal Advice, but my only purpose for writing this article is mainly to increase your awareness for the benefit of Homeowners experiencing hardship. I work for a law firm specializing in the representation of Homeowners and Families who are potentially suffering financial distress because I am rewarded repeatedly with caring about your needs. I am the ear of the phone that has witnessed many cases and I am very compassionate towards people and it grows deeper daily.

Loan Modifications (also referred to as Loan, when handled by a professional, can be extremely effective methods of avoiding foreclosure or stopping foreclosure before it starts by adding changes to the original terms of your mortgage. Altering your mortgage terms can be a HUGE savings on monthly payments, interest, and even mortgage terms in regards to the number of years in which you have to repay the loan, and sometimes resulting in a great savings due to a reduction to the Principal Balance amount owed on the loan.