5 questions You’re Not Asking Your Loan Modification Attorney

Falling behind on home payments is a problem that needs to be handled before the situation gets out of control. Acting sooner rather than wait until the debt is up a significant amount is the smartest way to keep from losing your home. Unfortunately, the process of loan modification when faced with foreclosure can seem like a frustrating ordeal.

No two loan situations are the same so it’s impossible to completely predict how it’s going to go from one case to the next. Some lenders are not going to be easy to work with and time spent trying to negotiate will cause the debt to grow. It’s important to ask the right questions to find a worthwhile loan modification attorney to handle your situation fast.

• How do you determine if you are able to help me?
  Don’t jump the gun to start sharing your story with the first attorney that comes along. Take the opportunity to get more information about their methods of identifying potential clients and how it has worked for them in past cases. If they truly know what they’re doing, it will be evident from the way they are able to explain their process.
• Do you have previous loan modification clients that I can speak with as a reference?
  A satisfied client that was able to save their home with the help of an attorney will gladly offer their personal story. Ask for 3 references to speak to so that you can find out what it’s like to work with this company, their modification experience, and to understand if it was worth the trouble.
• Do you use violations of law hidden in my current loan contract as leverage up front or later on in the process?
  This question is an important indicator of the way the company prefers to handle negotiating with lenders. In some instances it is more appropriate to take the time to comb through the entire contract to find legal discrepancies as a negotiating tool. On the other hand, a faster resolution comes from having the attorney simply discuss affordable terms with the lender until an agreement is reached.
• What type of fees are required for your service?
  Price is not the first or most important question to ask, but the answer is one to consider. Find out about any up front fees and also calculate the percentage due if the case is handled successfully. It’s not necessary to price shop as long as you feel confident in skills of the company.
• Can you tell me what I can expect when working with my specific lender?
  It’s a good indication of experience if they are able to provide evidence of working with your lender in the past. At the same time, if they haven’t then it could be a sign that the company doesn’t have the experience you’re looking for.

Do not allow yourself to continue accumulating debt to the point you may lose your home. Ask the important questions to ensure that you choose the right firm the first time so that you can get back on your feet quickly. For more information and advice call the Law Offices of Georgette Miller and Associates at 1-866-964-6529