This is the common reoccurring theme that our law firm has experienced since early 2007 when we first started performing loan modification for our clients. If this was easy then we wouldn’t have so many foreclosures and everyone would be getting the help they deserve.

But you and I know that simply is not true.

Mortgage servicers do not have the manpower to handle the volume of delinquent borrowers and thousands of homeowners are simply getting lost in the mayhem. For some of you, hiring an experienced loan modification attorney that can cut through the red tape can be crucial and may make the difference in saving your home.

Maybe the reason you need a lawyer is because you have multiple properties, complex financial situations, do not have the time to do this on your own or have been turned down by your lender. If you want to save your home, walk away or simply be legally protected during the foreclosure process, then you need a lawyer.

If you are someone like in this CNN article below and you are not getting help from lender,  please give us a call at (888) 756-2652.

From CNN:

Borrowers and housing counselors, however, have been complaining about the program since it began. Many say their servicers are not responsive — losing paperwork, not returning calls and never making decisions on applications. Some charge that servicers are violating the rules, such as denying modifications to those who are still current with payments.

The program, unveiled last month, allows at-risk borrowers to reduce their monthly mortgage payments in an effort to keep them from losing their homes. It creates a $75 billion loan modification program that would allow “responsible homeowners” to refinance to interest rates as low as 2 percent.

“We were well positioned for a vigorous launch of this new government program. Since the outset of the mortgage crisis, we have increased key staffing by over 65 percent,” Ocwen Chairman William C. Erbey said in a news release. “Our modification processes required very little tweaking to comply with program guidelines.”

For a loan modification, lenders would have to reduce the mortgage payments to no more than 38 percent of the borrower’s income. The Treasury Department would share the cost for lenders to cut that debt-to-income ratio to 31 percent.

Loans could be extended to up to 40 years.

Read more from the Bizjournals

The new federal program to let people refinance or modify their mortgages is expected to help millions of Americans lower monthly payments and avoid foreclosure. So what strings are attached?

You might be concerned about the impact to your credit report or the tax implications, for instance. Others who are still paying low introductory rates might fear their monthly bills could skyrocket.

Here are some questions and answers on concerns people might have about the Making Home Affordable program.

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Q: How will my credit profile be affected?

A: Refinancing generally doesn’t affect your score since it’s simply a rewritten mortgage, according to Norm Magnuson of the Consumer Data Industry Association, a trade group based in Washington.

This is especially true of refinancing under the federal program, since one of the terms of eligibility is that homeowners can’t have missed a payment in the past year.

Read more from the AP