Break Through the Red Tape of Loan Modification Services in Hagerstown, MD

What happens when prices of virtually everything continually climb but wages don’t follow suit? Based on current trends, thousands of hard-working people are forced to choose between having roofs over their heads or food on their tables. Back in 2009, the Home Affordable Mortgage Act was introduced to help families affected by this conflicting turn of events. Through loan modification services in Hagerstown, MD, homeowners falling into this category were promised a bit of relief.

Unfortunately for many, this promise is ultimately generating quite a bit of false hope. Mortgage lenders seem to have developed a habit of using this program to lure borrowers into a false sense of security. They tell applicants they’re eligible for a loan modification and ensure them all the necessary paperwork is being processed. In truth, it’s all a stall tactic. Borrowers believe they’re out of danger of losing their homes only to be surprised by foreclosure notices.

If you’re thinking about applying for loan modification services in Hagerstown, MD, you may also want to consider having legal backup in your corner. In the event your lender has already promised to work with you in this regard, don’t be afraid to protect yourself. Ask for documentation of the process and a signed statement declaring your rights aren’t at stake. Those who legitimately intent to make good on their promises will provide this paperwork without hesitation; if they don’t, your best interests aren’t being considered.

Some homeowners are actually granted loan modifications but find the terms are even more unrealistic than the original loan while others are unfairly rejected despite valid proof of need. Small, inadvertent oversights leave many desperately searching for answers, whereas others submit flawless paperwork that makes its way to the trash can rather than the processing department. Regardless of the situation, an attorney may be able to help break through the red tape of loan modification services in Hagerstown, MD.

Having legal representation on your side seems to streamline the loan modification process. Lenders are typically more motivated to work with those who’ve hired an attorney, and applicants who are well represented tend to receive more advantageous terms when compared to those who tackle the process alone.

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