Loan Modification

Maryland Loan Modification & Bankruptcy Attorneys

home loan modificationWhen you worked so hard to keep your home, the threat of losing it is devastating. At Laura Margulies & Associates, LLC, in Rockville and Greenbelt, Maryland, we have helped clients find solutions to their difficult financial situations since 1993. We will help you fight to avoid home foreclosure.

Under President Obama’s Home Affordable Modification Program (HAMP), mortgage companies are encouraged to enter into loan modification agreements with homeowners. If you cannot make your current payment on your home and are at risk of foreclosure, contact Laura Margulies & Associates, LLC for a consultation about modifying your home loan.

Do You Qualify to Modify Your Loan?

Not everyone is going to qualify for loan modification. You have to show that you can make some mortgage payment and there are income and other criteria that you have to pass in order for a mortgage company to even consider your request. For example, if you are unemployed with no prospect of future employment, a loan modification is unlikely.

Do You Need an Attorney for Loan Modification?

The loan modification process was supposed to make it possible for individuals and families to modify their loans without an attorney. Unfortunately, many people who try to modify their mortgages on their own do not get anywhere.

Many individuals have experienced the same thing – they do not hear from the mortgage companies until months after they fill out the paperwork. Then, they must wait months for a trial, only to find out afterwards that their request was denied.

Furthermore, loan modifications are voluntary. Mortgage companies and banks do not have any strict criteria that they must follow. They can take as long as they like to decide a case. An experienced loan modification attorney can help speed up the process and increase your chances for success.

How Can Laura Margulies & Associates, LLC Help?

Washington, D.C. and Maryland bankruptcy attorney Laura Margulies has more than 20 years of experience in bankruptcy law and has been interviewed by reporters and journalists about multiple areas of debt relief. Together with attorney she has worked professionally with hundreds of mortgage companies and is able to directly contact those companies and banks to negotiate loan modifications.

Our experienced bankruptcy attorneys can help you:

  • Complete the paperwork you need to modify your loan
  • Verify that everything you need for a loan modification, including proof of income, is included in your application
  • Communicate with your mortgage company for a smooth process
  • Negotiate the terms of your loan modification with your mortgage company
  • Represent you in loan modification proceedings or Chapter 13 bankruptcy hearings

Avoid Loan Modification Scams

While lawyers can charge their normal fees, other businesses must wait until a loan is modified to charge for their loan modification services. Companies scam clients into paying them a non-refundable fee before the process is finished and then telling them that their lenders will not work with them. There are many scam operations trying to do loan modifications. They are not qualified and are just trying to get your money. If you have already been scammed, our law firm can explain what you need to do to get your money back. Then, we can help you through a proper loan modification process.