Loan Modification Application Process
Our Loan Modification Process begins with your free consultation where you personally meet Attorney Malik Ahmad to discuss your situation. The Loan Modifcation Process starts with examining the validity of the loan agreement, the escrow documents, and all the default notices you have received from your lender. This is to see if any Predatory Lending Laws have been violated:
- Check the Loan for Possible Loan Violations
- Identify that the mortgage on their current property is a lawful one in accordance with TILA or RESPA.
- Examine the Loan for any junk or bogus fees that are in violation of TILA and RESPA
- Examine the TERMS of the aggrement with regards to APR, Right to Cancel, Proper Notification and other variables
If it is determined that no laws have been violated on your mortgage, then we still have time to approach your lender for a possible loan workout or loan modification. The factors they will look for are:
- Nature of Hardship Causing Your Mortgage Problems?
- What is Your Ability to pay?
- How Much Amount Owed on your property?
- Is There Any Equity in the Property?
- Are You Currently Employed?
- What is Your future financial situation?
- Balancing?
The answers to these questions decide whether or not to foreclose or pursue a loan workout, or modify your loan. A loan workout or loan modification generally occurs where the parties to a problem loan mutually agree to workout the problem by creating new and better loan terms. The hope is that the new loan will enable the borrower to meet new obligations more comfortably and without any delinquency.
Experience
Law Office of Malik Ahmad is helping our community in many kinds of loan modification needs for many years. When Law Office of Malik Ahmad is on your side, banks start listening to you and they help generate excellent loan modification programs for borrowers in distress. Attorney Malik Ahmad endlessly negotiates for his clients. Check the Loan Modification Information section for to find out more about the loan modification process.
Contact Attorney Malik Ahmad for a free consultation by filling out the form to the right or by calling 702-270-9100
