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David B. Willis

What a timely post.

I've received 3 calls this week asking if I would do loan mods. Turned them down but it has me wondering how long it would take to get up to speed on the area and get a blog set up. Just gotta figure out the key words...


Jeffery K. Davis

Great info Chuck. Do you know of any attorneys in Texas that work with Bankers/Brokers and their clients? Right now we send them to offices located in Las Vegas and New York - I would love for my clients to be able to shake someones hand if they wanted to.


Loan Modification

I started a website to help gather those needing loan modifications and pass them on to helpful people who know how to help them. 5% of the profits go to charity.

Denise Hicks

Hello, Does anyone know the website that Jeffrey K. Davis started to help get information on loan modifications? I need help fast, I am trying to save my house in foreclosure in Seal Beach, CA

lucas law

Hi Denise why don't you try the services of www.lucaslawcenter.com?


Loan Modification California

I like the blog, it conveys right solution for the debt troubled people.I have also seen desertmortgagerelief.com to be quite promising on providing sensible loan modification in California information.

Eugene Tan

Is it really needed to have an attorney to have a loan modification? Well for me its not. You can get guide books and loan modification kits to guide you on the process and even help you how to stop foreclosure in the earliest time. Why wait if you can start now. Prevent foreclosure while its not too late.


Home Loan

Nice informative post. Thanks for sharing this blog with us.


It may be new business but the clock is already ticking as each of the programs being offered have time limits on them one ends in June 2010 (refinancing)and the other loan modification finishes at the end of 2012. So if anyone wants to get into this business they had better get started.

Ron Borg

On the one hand, I completely agree with you. A large percentage of these so called loan modification companies are simply regurgitated ex-sub-prime mortgage reps. They preyed on the ignorance of mortgage borrowers and stuck them with bad loans. Now they come in like white knights offering to fix the very same problems they created. Yet from what we have seen, most of these companies amount to nothing more than slickster telemarketing firms with a new angle.

But on the other hand, some attorneys have given rise to many of these unscrupulous companies by allowing them to use their name. This is a very misleading tactic that many homeowners have fallen for. If an attorney wishes to get involved with modifications they should not be hiring $12 an hour staff to work with those homeowners. They should also not allow what amounts to telemarketing firms to sell their services. They are using their attorney designation and the public trust that comes along with that to enrich themselves at the expense of desperate homeowners. You speak about the 200 companies that have been approved, but just as many have received cease and desist orders in California. I wrote about this in my article, http://www.911-foreclosure.com/california-cracking-illegitimate-loan-modification-companies/ I'd like to hear what you think.

justin anderson

why not try my link for to help on forclosure problem..

here in the link:

hope it will help you..

andrew thomas

im no to foreclosure here is my guide for you guys to help you stop foreclosure..

Home Loan Modification

Thanks for sharing. A loan modification lawyer can stop foreclosure.


True, a loan modification company can stop foreclosure, but most of this preyed on the ignorance of mortgage borrowers and stuck them with bad loans. here i agree with comments of Ron Borg.

andrew thomas

you may not need an attorney to stop foreclosure quick

“if you are facing foreclosure, it is imperative that you look into options to stop foreclosure quick.

If you are facing the possibility of losing your home, you can take action, such as a loan modification kit or short sale, to stop foreclosure quick. In this article, you will learn about some possible actions that you might take to stop foreclosure quick.

Depending on the laws in your state, you may need an attorney to stop foreclosure quick. However, in most cases, you DO NOT need to consult an attorney, which could save you thousands of dollars. You must move quickly if you wish to stop this process. If you have fallen behind on your house payments, you will need to contact the mortgage lender and attempt to negotiate a reasonable repayment schedule that will get you out of arrears.

As foreclosures are becoming more common, many people are simply walking away from their homes when a few phone calls or a loan modification kit may have been able to stop their foreclosure quickly. Mortgage lenders are willing to negotiate, and absolutely would rather you come up with alternatives rather than them having to legally take your home.

You should be aware of what the laws are in your state to see how much time you have to stop this process. In some states, such as Arizona, you will need to move quickly, but if your state has judicial foreclosure, such as Florida, you probably have more time.

Knowing your states legal timeline will allow you to stop foreclosure quick, because you may have more time to research what option will get you the best results for your particular situation. However, you must follow through on the option you choose, because if you fail to do so, you will be right back where you started.


austin jackson

help stop foreclosure by acting early

the most important person to help stop foreclosure from affecting you; is you!
Most people are afraid to admit that perhaps they are headed for foreclosure. Much like a storm on the horizon, people can act before all is lost. The following steps are crucial in deterring what may feel like the inevitable from occurring.

1. Come to grips with your situation. Prepare a personal balance sheet determining your income and your expenses. You can then use this balance sheet to forecast your immediate future. Do you have enough income to cover the mortgage and all other expenses? How many months can you sustain on-time payments? Are you already beyond your means?

2. Contact your lender immediately. In order to help stop foreclosure from happening, you want to inform your lender about your situation before it’s too late. Simply being honest and explaining why you fell behind with your payments and why you deserve a second chance is an effective first step.

3. Develop a repayment plan. Many lenders prefer to help a homeowner create a repayment plan then to risk the chance of bankruptcy. A repayment plan will document to the lender how much you can afford to pay in addition to the current monthly payment. This way a homeowner can remain current while paying off the back debt a little at a time.

4. If you feel uneasy about negotiating with your lender, contact a nonprofit housing counselor. Many lenders already have relationships with housing counselors. This gives the homeowner an inside connection because many of the counselors have direct access to people at the lender who will work with the counselor but not necessarily the homeowner personally.

Whether or not you can avoid foreclosure depends on you, especially in the early stages. Self denial and positive thoughts will lead you to financial ruin. The best approach is to admit you are in danger of foreclosure then develop a plan of attack. Planning, communicating with the lender and negotiating a repayment plan can often lead to the best way to help stop foreclosure from consuming you and your loved ones.


H. Pan

I am an attorney who has been involved in succesfully negotiating Loan Modifications for some time. My firm is more than happy to assist any homeowner who needs assistance dealing with their lenders and cutting through alot of the misinformation and red tape involved.

Please visit TheLoanModificationLawyers.com for more information.

carlos smith

On March 4, 2009 the $75 billion Homeowner Affordability and Stability Plan was passed into law by President Barack Obama. The White House has just released who will qualify and how to go about receiving a Loan Modification through the new plan. Here is what you must know!

Step 1: Determine if you are Eligible for your share of the $75 billion Bailout?

1. Do you live in the home?
2. Is your current loan amount within ($625,500 in high cost areas and for other areas $417,000)
3. Are your current house payments more than 31% of your gross income?(The Complete Loan modification kits will automatically calculate all financial ratios your lender may want to see)
4. Are you must be able to prove you have current income?
5. Do you currently have a job?
If you answered yes to these five questions there is a good chance you will qualify for a loan modification under the terms in the Homeowner Affordability and Stability Plan.

Step 2: Apply for a Loan Modification (Order and Instantly Download the Complete Loan Modification Kit)

You must act quickly; millions of American's will be trying to get a piece of the bailout! The sooner you act the better your chances are of receiving a loan modification. However, it is important to ensure that you have all your documentation in order so that when you do reach your lender they will be able to process your request quickly.
So in step 2 first prepare all documentation required by your lender then contact them. The Complete Loan Modification Kit has all document templates, forms and checklists your lender may request. With the Homeowner Affordability and Stability Plan if your loan qualifies there is a good chance that the lender will contact you. Be certain that the person claiming to be your lender truly is! But there is no guarantee your lender will contact you, therefore it is in your best interest to be proactive and contact them.
It is important to understand that with Obama's Homeowner Affordability and Stability Plan lenders have a financial incentive, and they love money, to process as many loan modifications as possible. Therefore it is essential that if you want your lender to consider your case a high priority for them, you need to make it easy for them to process your application fast. Nothing will get your case dropped to the bottom of the pile faster than taking up an hr of your lenders time with questions you can learn easily if you read the included Loan Modification Manual. The Complete Loan Modification Kit Course Manual provides a clear overview of the loan modification process.
One of the largest differences in the loan modification process that the Homeowner Affordability and Stability Plan will have is the fact that to receive a loan modification you do not need to be behind on your mortgage payment. Now if your ARM has been reset to a high rate and you answered yes to the questions in step 1 you can likely get your rate reduced to 4.5% fixed.
Follow Up! It is especially important now, with so many loan modifications being started that you stay in contact with your lender and ensure your case is being handled effectively.

randy stickler

UPDATED: Specific recommendations to take advantage of Barack Obama's $75 Billion Loan Modification Plan, The Homeowner Affordability and Stability Plan(HAMP Program)
WARNING: Do not pay a Loan Modification Company $1500-$3000 to simply fill out the forms included in this kit.

“GOOD NEWS for homeowners facing foreclosure: AT LAST! a complete Loan Modification Kit which provides insider tips and easy instructions on how to stop the foreclosure process and SAVE YOUR FAMILY’S HOME. ” Guaranteed or you PAY NOTHING.

victoria samuels

Do it Yourself Loan Modification

What would you rather do? Pay $3000 to a loan modification company and hope that they are working in your best interest, OR complete your do it yourself loan modification application after investing only 3 hours of your time and knowing you have a very good chance of approval? You don’t have to be an expert, but after just a few hours, you can be knowledgeable enough to prepare a loan workout proposal and present it to your lender. And best of all, loan modifications are free. Learn today how to lower your mortgage payment and save your hard earned money.

Let’s be clear here – you cannot just gather some papers together, fill out some forms and hope that you’ll get approved – that is not what is meant by a do it yourself loan modification. It is not a difficult process, but it will take some work and effort on your part. A majority of loan workouts can get approved with a do it yourself loan modification. And remember, by doing it yourself you are keeping your money, not handing it to some other company.

You’re probably saying to yourself, “I don’t have a clue how about the do it yourself loan modification.” If you can follow step by step instructions, calculate simple math equations and are willing to do whatever it takes to save your family’s home, then you are ready to learn how you can process your loan modification application.

Loan mod companies advertise and promise to help you, but did you know that you have to spend your time gathering all the information and required documents before they will even start to work on your file? And they do not guarantee success. By gathering all the documents and completing financial statements, you have already done most of the work – so why would you pay them for something you can finish for free? The simple truth is that for most homeowners, it makes sense to save your money and process the application yourself. The Treasury Department actually warns people not to pay any company an up-front fee.

It is now even easier to complete a do it yourself loan modification with the new Obama federal loan modification plan. Each participating lender uses standard criteria for approvals. You can complete your own application as long as you take some time to learn the process, and pre-qualify yourself so that your chances of approval are significantly higher. You do not need any negotiating skills, all those who qualify are guaranteed the same terms. With a few simple guided steps you can discover what you need to do in order to qualify and receive the modified mortgage payment you deserve.

Are you committed to setting aside 3 hours to learn how to put together a comprehensive do it yourself loan modification? Make your decision today and take back control of your finances, your home and your life. Make sure you get your share of the billions of dollars that has been allocated for this program.

If you are still unsure of the process or if you think you may need help preparing the do it yourself loan modification, you can, for a nominal fee, order The Complete Loan Modification Guide. This is a complete loan modification kit that provides you with all the necessary forms, instructions, charts and calculations you need in order to properly complete your application. The guide will also show you how to put it all together and present it in a professional manner to your lender. Start today and follow the path of the financially fit.

kloud social

Great article. THe job done by president Obama is really great. It helped hundreds ythousands people to prevent foreclosure. http://www.obama-loanmodification.com ; Thanks again

Loan Modification

I think that they could do more to help homeowners to get approved for a loan modifications.

Mortgage loan modification

It's like you predicted the future when you wrote "Just like mortgage brokers, loan mod companies are under no obligation to act in borrowers' financial interests, short- or long-term." This was likely the reason for so many shady loan mod companies.

BTW with the latest laws in California, it's going to become even harder for attorneys to want to get into the loan mod field without being able to collect money upfront.

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    The opinions expressed in this weblog represent only the opinions of the author(s) and are in no way intended as legal advice upon which you should rely. Every person's situation is different and requires an attorney to review the situation personally with you.
    Charles (Chuck) Newton is licensed to practice law in all courts in the State of Texas, the United States Court of Appeals for the Fifth Circuit, and all United States District Court and Bankruptcy Courts in the State of Texas.
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