New York Loan Modification Attorneys

The “Watch Out” Signs for Loan Modifications

Before you begin the loan modification process, it’s important to find an attorney you can trust to negotiate the terms of your loan and protect your best interest.   Although a loan modification is usually a secure way to avoid foreclosure, it’s important to keep an eye out for anything that seems unethical or unlawful.  The last thing you need is a problem that halts or prevents your loan modification from being successful.

Some signs to watch out for during the loan modification process include:

• If the loan modification seems too good to be true.  Mostly likely, it probably is.
• Any lender that guarantees approval without looking into your credit or financial history.
• An attorney who promises that he/she can get your loan modified.  This usually is a sign that they do not have your best interest at heart.
• An attorney who doesn’t take the time to look into your financial background, credit history, and other important information. How will he/she be able to help you modify your loan when he/she doesn’t even know what your goals are or if a loan modification is in your best interest?
• If the cost to appraise your property seems inflated.  Appraisers know that you’re in a vulnerable situation, and will not hesitate to take advantage of you.
• The loan officer keeps delaying the process.  Excessive delays are a sign that the lender may not actually want to negotiate a loan modification.  You don’t want your loan modification to fall through or you will face foreclosure once again.

Contact a New York Loan Modification Lawyer

Do not put yourself in a position where your loan modification can fall apart or you can be taken advantage of by greedy people in the real estate, mortgage, and lending industries.  At Jacoby & Jacoby, you can depend on us to protect your best interest, and look out for anything that seems shady, illegal, or unethical.  We truly care about helping you avoid foreclosure, and are committed to ensuring the loan modification process goes as smoothly as possible.   We have been helping people in New York fight foreclosures for many years, and can provide you with the honest representation you need to avoid the pitfalls that can affect your ability to successfully modify your loan.

To learn how we can help, contact a New York loan modifications attorney at Jacoby & Jacoby today!