Government Loan Mod Program Still Up In The Air

Foxnews.com is reporting that the House of Representatives is voting on new foreclosure legislation that may help homeowners modify or restructure their loans. It is not clear what will happen yet.

Whatever it is, wise homeowners will not attempt to pursue their remedies without legal help. There is a maze of laws and procedures in foreclosure law and little that homeowners can do if they get the Lender Runaround (which seems to be a very common occurrence based on what I hear every day from clients and callers). Here is the news story.

Here is a web site with information from the US Treasury on this program. My Midtown Manhattan firm already helps homeowners in New York State try to modify their loans. We will be offering assistance with any new programs. We also have been litigating foreclosures and handling Chapter 13 bankruptcy to help homeowners as well.