Process of Feldman Law Center

Home Loan Modification Process Page
The home loan modification process is one that shouldn’t be entered into without a home loan modification attorney.  It can be complicated, and every lender you encounter will not only have attorneys of their own, but will attempt to get every last concession from you that they can.  Lenders aren’t thinking of you during the negotiations, their main concern is their bottom line.  However, a home loan modification attorney will guide you through the California loan modification process and can successfully keep you in your home with affordable monthly payments.
The following are the steps you’ll go through  for a home loan modification:
Step 1 – Initial Consultation
Contacting the Feldman Law Center begins your initial consultation.  In order for us to assess whether or not you are eligible for a home loan modification, we need to discuss your current situation.  If you are experiencing a financial hardship, are unable to make your mortgage payments and if you want to stay in your home, the Feldman Law Center is waiting to speak with you.
Step 2 – Collecting All Financial Documentation
After your initial home loan modification consultation, we will send you some materials requesting the following information:

• A hardship letter that explains what occurred to cause you to fall behind on payments
• Your most recent mortgage statement
• Proof of current income, which includes your W2, pay stubs, rental agreements and/or any bank statements
• 4 months worth of bank statements
• Your most recent W2 forms (2008 forms should be available)
• Your 2007 and 2008 tax returns, only the first 2 pages, form 1040
• Your monthly expense, which is all expenses even if you are not currently paying them, including:
• Utilities
• Food
• Mortgage payments
• Etc.

After reviewing and analyzing your information, we will compile a negotiation package to submit to your lender.  We will fully analyze your case before negotiations begin and then proceed.  You should be aware this process may take up to 45 days to complete depending upon how fast you provide the Feldman Law Center with the necessary information.
Step 3 Negotiations
After submitting your financial package to your lender, the negotiations begin.  Our home loan modification attorneys will continue negotiations until an acceptable agreement is received and approved by you, the homeowner.
Step 4 – Homeowner Approval
After your request is approved, the final home loan modification document will be sent to you for your approval.  After years of experience with the home loan modification process, we ask that you have at least 2 months of payment saved before you home loan modification is approved in order to begin your new payment schedule.
Please keep in mind that this is not an overnight process, in most cases it takes roughly 30-60 days to complete.  The Feldman Law Center is dedicated to your cause and to keeping you living with your family in your home.