The Feldman Law Center is one of California’s top loan modification companies, providing excellent service to our clients and is completely focused on keeping everyone one of our clients in their homes. Our loan modification experts work tirelessly to provide every homeowner we work with the information, guidance and support they need to modify their mortgages and keep the homes they’ve worked to buy. About Loan Modifications If you’re unfamiliar with what a loan modification is, a loan modification is quite possibly the most effective tool you can utilize if you are behind on your mortgage, and are in the midst of a financial hardship, in order to save your home from interesting foreclosure. A loan modification is literally is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). In general, any loan can be modified. The Feldman Law Center knows every law in California (and the country) that may be able to keep you in your home. Lenders would rather renegotiate the terms of your loan, and possibly even negotiate a principle reduction, than let the house go into foreclosure. With years of experience negotiating with lenders, as well as years of experience keeping people in their homes, the Feldman Law Center is one of the most experienced loan modification firms in all of California. Benefits There are many benefits of home loan modifications: Reduction in interest rate Change from a floating to a fixed rate Change in how fix rate is computed Reduction in principal Reduction in late fees or other penalties Lengthening of the loan term Capping the monthly payment to a percentage of household income Overall, the goal is to lower your payments so that you can afford your monthly payments so that you can afford your payments and afford to keep your home. California and Federal Loan Modifications There are various laws throughout California and the country that dictate how loans can be modified. For example, last year in California, the state of California modified how loan modifications can be negotiated. Our loan modification attorneys stay on top of legislation in order to provide the best possible guidance and counseling to homeowners. We understand that home loan modifications are a scary proposition, especially in the current economic climate. The Feldman Law Center’s loan modification attorneys and loan modification professionals are experts in their field and can guide any family through the process. We are also knowledgeable regarding FDIC loan modifications and other federal programs. We can alert you to the best possible solution for your particular situation. Foreclosures Having your home foreclosed on has ripple effects throughout your life and family. Obviously the biggest ramification is you lose your home. However, other effects include: your kids have to change schools; you lose the friends in your neighborhood; your credit score takes a major hit; you have pay countless dollars on moving all your possessions and moving into a new home; and much more. Home Loan Modifications Might Be the Answer A majority of the home loans needing modification today are conforming mortgage loans made by big banks such as HSBC, CitiMortgage, Countrywide, Household, IndyMac, JPMorgan, Wells Fargo, Washington Mutual and Bank of America and based on Fannie Mae and Freddie Mac guidelines. If you are behind on your mortgage and do not see any relief in your near term future, you can benefit from a loan modification. Act now, time is not on your side. Visit us at http://www.feldmanlawcenter.com or call 800-588-0425. Legal Disclaimer The information contained herein is provided for general information and advertising purposes only and is not intended to convey a legal option nor legal advice for any particular case or situation. Nothing in this article shall create an attorney-client relationship. Nothing sent to this law office via e-mail shall constitute an attorney-client relationship. Nothing contained in this article shall be construed to be a guarantee or prediction of result. Prior results are provided for general information purposes only and do not guaranty, warranty or predict a similar outcome with respect to any future matter. Results achieved depend on individual circumstances and not everyone will qualify or be successful in restructuring their mortgage loan.