
March 19, 2010 - Washington, D.C. - There are many reasons for a homeowner to foreclose in this turbulent economy and it does not always have to do with the homeowner not making their mortgage payments on time.
Often, the decision rests on the lender, as many borrowers are doing what they can to save their home from foreclosure. The Home Affordable Modification Program, or HAMP, was designed to protect homeowners from losing their home if they could afford to make lower payments.
However, many lenders do not offer this option to their borrowers, or never follow through on paperwork, which can lead to wrongful bank foreclosure. This is because lenders usually lose money on modifications and many see quick foreclosure as a more economical solution.
The best way to fight this tactic is to be persistent when it comes to contacting lenders. They will probably try to get out of modifying your loan, but cannot ignore numerous phone calls, Emails, and letters that prove that a homeowner is indeed qualified and anxious to save their property. Having a foreclosure attorney on your side is another way to get the bank to sit up and take notice of what you are saying.
Of course, there are some lenders that refuse to budge on their decision, turning down homeowners who have done everything they can to get a loan modification. In this case, seeking legal help is typically the best-or only-option to avoid losing your home. With any luck, your lender will realize that bank foreclosure is no longer the easy way out.
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.
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.
Let our legal experts review your case, and we'll help you obtain the compensation you deserve. Begin your case review by filling out the form below:
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