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• "I sent this letter certified after receiving the free guide [from] Phillips & Garcia P.C. Saved Foreclosure. Thanks a million!" A.D. from Colorado
• After seeing first hand what you are up against concerning the big banking companies, we are even more amazed that you are willing to fight the fight. The little guy needs your help and your fearless attitude. You are good people and true Americans. We are honored to be called your friends. R.R. - Mich., Lockout & Trashout Victim
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Breaking Legal News & Current Events

Most Homeowners Do Not Qualify for Fed’s Loan Modification Program

March 18, 2010 - Washington, D.C. - Despite the government's pledge to ensure that most families can avoid foreclosure and stay in their homes by modifying their mortgages, many homeowners are finding that they do not actually qualify for the loan modification program.

Associated Press reports that President Obama announced the federal program in February 2009, stating that up to 3 to 4 million homeowners would be able to keep their homes after signing up.

More than a year later and just 170,000 homeowners successfully helped-with 1.3 million homeowners having been offered help-Obama and other proponents of the program claim that all the government can do is offer help, not guarantee it.

The federal program aims to reduce mortgage interest rates to as low as 2%, and can even extend loan terms to 40 years instead of the more traditional 30 years. These changes may be enough to help some homeowners keep paying their home loan, provided they pay the reduced loan on-time for 3 months.

Unfortunately, millions of people do not qualify for the program, or their lenders are simply not willing to work with them. Already, 90,000 people have dropped out, and banks are set to disqualify thousands more in the near future. Sadly, many struggling homeowners will continue to experience foreclosure despite the loan modification program.

The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.

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Legal Help for Wrongful Foreclosure and Seizure in Any State.  Phillips & Garcia, P.C., a leading law firm in wrongful foreclosure and seizure cases, is now taking cases in any state where there has been a wrongful foreclosure, lock-out and trash-out of a borrower's home.  We are licensed in Massachusetts and associate with a qualified attorney in your state. 

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