Lanin Law P.C. Successful With Mortgage Loan Modification!

I just helped a client obtain a loan modification with Wachovia that will help him save his Brooklyn home. About two months ago, Wachoiva denied our request for a loan modification. Then, about three weeks ago the government came out with a new program to encourage lenders to work with borrowers. I blogged about this on March 7, 2009. After that, Wachovia had a change of heart and just agreed to an excellent loan mod. Now, is the optimal time for borrowers and homeowners to call my office for help with a loan modification. Don’t make the mistake of trying this without legal help.

Here is what we were able to achieve with Wachovia: a 30 year old loan was extended to 40 years; late fees and other charges were waived; monthly payments were reduced to interest only for the first 6 years; and arrears were placed back into the loan to be paid over time. Our client was very happy.

If you are a New York property owner trying to stop foreclosure, catch up on arrears, or lower your monthly payments, please call my office at 212-764-7250 x 201 for a free phone consult. Or, you can click on the FREE CONSULT link in the right column and we will contact you.

If you are receiving letters from out-of-state companies (non-attorneys), throw them in the trash where they belong. It is illegal for “foreclosure rescue” companies to charge an advance fee or to practice law in New York. Modifying a mortgage contract is something that only a local licensed lawyer is allowed to do. These companies cannot help with litigation or bankruptcy and leave many homeowners in a lurch with no backup strategy. I get calls daily from people who have sent money to various companies that scammed them. Caveat emptor.