There are countless homeowners accepting loan modifications in which their resulting payment is the same, and in some cases, actually higher than their original mortgage payment.\u00a0 Also, the resulting principal balance owed by these homeowners is far more than the home is worth, and even more than when they started the modification process.\u00a0 Still, other homeowners end up losing their homes because they are unable to complete a loan modification before the home is sold at\u00a0public\u00a0foreclosure auction. These homeowners were apparently unaware that\u00a0the key to a successful loan modification<\/strong>\u00a0is hiring an established law firm with an experienced loss mitigation department.<\/p>\n Every homeowner should know by now that just because you\u2019ve applied for a loan modification does not mean that your lender will stop the foreclosure of your home.\u00a0 If you do not have proper representation in the foreclosure action, you risk losing your home before you can complete your loan modification.\u00a0 Despite what the bank representatives may tell you, the law firm representing the bank may have a different protocol to pursue the foreclosure of your home.\u00a0 Individuals in court lose their homes daily due to their refusal or inability to hire a qualified attorney to represent them.<\/p>\n The Arcia Law Office is one of only very few law firms with a local in house loss mitigation (\u201closs mit\u201d) department that works hand in hand with our clients and our litigation department to ensure that the loan modification is completed before the foreclosure.\u00a0 When preparing a loan modification application, it is important that it contain everything the bank\u2019s loan negotiators are looking for, and that it be organized in a certain specific order.\u00a0 If items are missing, your application is passed and sent to the back of the queue to start from the beginning.\u00a0 This process can continue for months, and then you must convince a loan negotiator that you qualify under the various government and\/or the bank\u2019s own in-house loan modification programs.\u00a0 This complex cycle is where most homeowners get stuck for months without success, or where they become so frustrated they accept the first modification offered despite the terms being worse than the original loan (higher principal, higher payments, etc.). The key to break the vicious cycle, and obtain a viable loan modification is to be properly represented by a law firm that has both an established foreclosure defense as well as a knowledgeable and experienced loss mitigation department.<\/p>\n The experience, credibility and determination of the loss mitigation department at the Arcia Law Office is best demonstrated by the amazing results and loan modification success stories of our clients published throughout this website.\u00a0 Our team at the Arcia Law Office is not looking to merely modify a homeowner\u2019s loan so that the terms are the same as before, but instead, our goal to is to obtain a significant interest rate reduction, forgiveness of past due arrearages, late fees and other charges, and whenever possible, a meaningful reduction in the principal amount owed under the loan.<\/p>\n If you would like to meet with a member of the qualified team at the Arcia Law Office to discuss a modification of your home loan, please fill out ourFree Consultation Form<\/a>\u00a0or\u00a0Call Us Now! 954.362.5830<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" There are countless homeowners accepting loan modifications in which their resulting payment is the same, and in some cases, actually higher than their original mortgage payment.<\/p>\n","protected":false},"featured_media":448,"template":"","meta":{"_acf_changed":false},"class_list":["post-447","practice-area","type-practice-area","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nYou Might Still Owe Money<\/h3>\n
We Can Guide You Through A Loan Modification<\/h3>\n