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cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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I just did some searches and it turns out I DO qualify for

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I just did some searches and it turns out I DO qualify for some sort of mortgage assistance program! I will be meeting with my lender at a govt. sponsored event 3/29. Will I need to retain a lawyer for any proceedings or will I be able to work with my lender myself? I would like to get a fair deal and want to have all bases covered. Is ther anything I shoudl be wary of with the programs offered? I am trying to keep my home.

cortrightlaw : You can represent yourself without an attorney, the process mainly involves submitting the request documentation to support your financial situation which is then reviewed by the lender for approval. Modifications can be difficult to obtain and fairly often the terms are not really favorable but you will have to wait and see of they offer you any modification then determine if the terms are favorable. Also beware of anyone charging even attorneys to help you with your modification, there are a lot of scams out there.
cortrightlaw :

Have I satisfactorily answered your question? If I have please remember to click the GREEN ACCEPT BUTTON so that I will receive credit and compensation for my time (doing so does not end our discussion), i will gladly clarify my response or respond to follow up questions if needed.


Thank you I will accept and provide you with credit. I asked because the lawyer I had spoken with who was recommended through my work CLC told me I was not eligable for a modification since I was current on my mtg dispite the fact I owe about 50K above market/income value of my home and pay 6.5% interest when I have tried to get that reduced-and ended up in an expensive interest only payment-stupid I know but I was desperate. Long run on sentence, sorry. The lawyer told me I would have to pay 2000.00 plus hourly for him to file a modification and that since I did not actually qualify I would be lucky to get them to 4%. Now he was nice but Ifelt he was not being honest with me-not good vibes for a lawyer to give off which is why I will ask my magical 3 additional questions to nsure I am safely covered as I move forward to save my home for my son and I! I do thank you fro the advice. What would disqualify me from a modification? I have been reading govt sites(HUD, Att general etc) and have the required papers to fill out but need to be secure with my movements. Thanks!

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Customer: replied 5 years ago.

Are there any of the programs that would be best for me to persue with the bank?

The lawyer I spoke with told me the charge for bankruptcy was $2000.00 plus his hourly fee!

There is no good answer to your question as what the banks want to approve a modification. Because it is always changing from week to week. And unfortunately there is no real program all the programs you are reading about are completely voluntary on the banks and they do not seem to comply with any of them.
Customer: replied 5 years ago.

So are you also advising my only option as a homeowner is bankruptcy or foreclosure?


Not at all, you should attempt to modify but just be careful who you work with, and beware of anyone requesting money to modify your loan, and keep you expectations in line modifications are few and far between.
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