Home Affordable Modification Program

Under the Home Affordable Modification Program (HAMP) mortgage lenders were told to accelerate the review process for loan modifications. Evidently, the applications submitted by struggling homeowners were not being processed in a timely enough manner. It seems these applications were just sitting collecting dust while the threat of foreclosure loomed.

According to the Home Affordable Modification Program:

Mortgage lenders have to send confirmation in writing that they received your loan modification request.

Mortgage lenders have to approve or reject your loan modification request within 30 days of receiving your application.

If a mortgage lender denies your application, they have to offer another option to help you avoid the foreclosure process.

Now with the Home Affordable Modification Program getting support with loan modification is much easier. The processing time is much faster.

However, some homeowners have experienced the opposite. There have been instances in which homeowners actually qualified for loan modification but the mortgage lenders took too long to look at the applications. In these cases the homes went into foreclosure because the applications were not approved in time to stop foreclosure.

Many other home owners have said that their banks are not providing any type of loan modification assistance at all.

An experienced loan modification legal expert is the best resource if you are facing foreclosure. Most will provide you with a free consultation and inform you about your rights and best options. You need a professional that is familiar with the laws and able to negotiate on your behalf.

A qualified attorney will guide you through the entire process and help you get your loan modification approved.

Janian and Associates uses the information from the forensic loan audit to uncover the real terms of the loan, to determine if there are any applicable federal law violations, and find out if there are any hidden fees and/or commission earned by your broker and/or lender. This provides leverage for negotiating a loan modification.

Call Janian & Associates for a free consultation with a Loan Modification Attorney.