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Bad Communication by Lenders Illustrates Need for Southern California Loan Modification Lawyers

April 28, 2009

As Orange loan modification attorneys, we were struck by two April 14 articles illustrating the difficulties that homeowners face in trying to negotiate a loan modification themselves. One, which appeared on CNN.com, revealed that many homeowners have called their banks, only to face hourlong hold times, runarounds from person to person, automated recordings or instructions to call back endlessly. Part of the problem is that lenders are swamped with loan modification calls, the article said -- but that's little comfort to people who have lost their homes and their good credit. One Los Angeles woman in the article ended up filing for bankruptcy after extended efforts to save her home did not help. Another, a single mother, is about to lose her home in an auction after six months of efforts to negotiate a loan modification.

The other story focuses on the bad communication between Escondido homeowner Elba Coronado and her lender, Countrywide Financial. According to the North (San Diego) County Times, Countrywide settled a predatory lending lawsuit last year with a promise to modify hundreds of thousands of alleged predatory loans. Coronado's was not such a loan, but it halted her foreclosure anyway -- and didn't call her or the real estate agent she was working with to save the home. Coronado had already moved out in hope of avoiding eviction, so even though she technically still owns the home, it has been empty for months. The real estate agent and a professor at the University of San Diego both told the paper that this miscommunication was the norm for loan modifications.

These sorts of basic communication problems are exactly why many clients turn to our Fallbrook loan modification lawyers for help. Over and over, we hear from clients that they're getting no help and little communication from their lenders, who might pass them from person to person, ignore multiple messages or even refuse to discuss changes to a loan until they're in default. We can get better results in part because we understand the law and your rights -- which means we can use lenders' legal violations and mistakes as leverage to open real negotiations. We believe another part of our success simply stems from the fact that we are Southern California mortgage loan modification lawyers, which reminds banks that we can and will sue them if that's what it takes to protect our clients' rights.

If you've faced months of silence, miscommunication or worse from your lender and you need to take action, Howard Law LLP can help. Based in Anaheim, our firm has an active practice negotiating with lenders to substantially change the terms of our clients' loans. With the goal of lowering monthly payments to a sustainable and reasonable amount, we negotiate aggressively to change interest rates, restructure non-traditional loans, extend the life of the loan and more. To set up a free, confidential consultation about how we can help you, please contact Howard Law online today or call us toll-free at 1-800-872-5925.