Members of Congress whose districts are especially hard-hit by the foreclosure crisis are picking up the phones to help, the Associated Press reported June 5. The article discusses the efforts of Reps. Elijah Cummings of Baltimore and Maxine Waters of Los Angeles, both Democrats. The lawmakers have taken an active role in helping their districts deal with the foreclosure crisis, using the power of their offices to get the attention of banks after the same banks weren't helpful to constituents.
Cummings has asked lenders to designate someone to work with his office and hired a new staffer to handle that work. He also set up a "foreclosure fair" in his district that brings together troubled homeowners and lenders. Waters, who has been working directly with banks on behalf of individuals, said she has discovered that trying to contact loan services is "an absolute nightmare for anyone." According to the article, she has sat on hold for more than an hour and been transferred multiple times. In two cases, she said, she had to write directly to the CEOs of major banks to get action taken on her constituents' problems. When the homeowner is not grossly delinquent on payments, banks sometimes send her only to a loan officer who demands payment she told the AP.
Our San Bernardino County loan modification lawyers hear horror stories like this every day -- but usually, we hear them from clients. Many clients come to us only after trying to negotiate a loan workout with their lenders on their own, only to be endlessly put on hold, transferred around or told to wait for a call that never comes. Others discover that banks won't even entertain the idea of a loan modification before they go into default -- hurting their credit and their pride. In the meantime, threatening notices and phone calls from the lender keep on coming. It's disappointing, though democratic, that a Congresswoman would get the same poor treatment. Without serious action by banks, homes go into foreclosure and everyone loses -- including the banks.
Howard Law LLP has an active practice in mortgage loan modifications, serving homeowners throughout Southern California. Our Alhambra loan modification attorneys will not sign off on a shoddy loan modification that raises your payments or gets you deeper into debt -- we negotiate aggressively for lowered monthly mortgage payments that help you stay in your home for the long term. Unlike the crop of loan modification companies that have appeared recently, we are legally and professionally accountable for our actions -- we face career-ending consequences for taking advantage of our clients. Our Fallbrook loan modification lawyers have successfully argued for lowered interest rates, new loan structures and other major changes to our clients' mortgages.
If you need a loan modification and your bank -- or your Congressional representative -- hasn't been able to help, contact Howard Law as soon as possible for a free, confidential consultation. You can reach us via email anytime or call us toll-free at 1-800-872-5925.