(1888PressRelease)
April 09, 2009 - Homeowners across the U.S. are still feeling the crunch from the housing bubble that hit the country earlier this year. As sub-prime mortgages reverted to regular interest rates, a large number of homeowners have found themselves unable to make ends meet, and many have lost their homes to foreclosure. The number of foreclosures peaked in 2007, and according to experts, the situation is yet to stabilize.
The Loan Modification Department of Leclercq & Associates Law Office offers a promising solution to homeowners at risk of losing their homes. Loan modification is a contract between a lender and borrower to restructure a mortgage, designed to help struggling borrowers meet their financial obligations. The Loan Modification Department helps homeowners negotiate better rates with their lenders and avoid drastic measures such as foreclosure.
The loan modification process starts with a legal consultation. The Loan Modification team will review the borrower's financial situation and history, ask for supporting documents, and then will work out a customized negotiation plan. Also part of the plan is to review the original loan documents for violations of the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA), which can be used as leverage during the appeal. The team then sends the application to the lender and begins negotiations.
The Loan Modification Department takes pride in its aggressive yet measured approach to the loan modification process. All clients are fully informed of their options, and are guided through the application from start to finish. Unlike others, Leclercq & Associates will keep negotiating until lenders make a reasonable offer. Leclercq and his team have successfully negotiated interest rates to as low as 2.5%, and can stop foreclosures even after the homeowner has received their notice of sale.
The real estate crisis has caused a significant rise in loan modifications, and subsequently in loan modification firms. But the Loan Modification Department of the law offices of Leclercq & Associates remains one of the most ethical and reliable loan modification firms in the Southern California region. Interested homeowners can reach them at (310) 820-3959.
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