San Diego Home Loan Help – Handling Difficult Questions Quickly

Home loans slipping into default and ultimately into foreclosure often present situations and variables that are extremely complicated.  This not only creates confusion for the borrower, but also added stress. Many homeowners who have fallen behind on their mortgage feel completely helpless. Don’t despair, there are number of options available for homeowners who are behind on their mortgage.

Below are a few examples of some of the more common questions we answer when working with distressed homeowners, and if you’d like specific answers to your questions, please contact one of our San Diego real estate attorney sas soon as possible to schedule an initial consultation.

Why shouldn’t I attempt to handle this problem myself?

The same reason that you wouldn’t represent yourself in court – you’re putting yourself at a distinct disadvantage when attempting to work with banks and lenders much more experienced in this field than you, the borrower, and mistakes can be very costly indeed.

Why should I work with a law firm for help?

The legal route is one that will only help alleviate your stress, as you simply will not have to worry about what the attorney is doing to help your cause.  Our attorneys have governed by specific rules of ethics, are well-versed in real estate laws, rules and regulations, have vast resources at their disposal and will provide a high level of client service.  Their intricate knowledge of the relevant foreclosure and bankruptcy laws will allow your attorney to negotiate to your advantage.  Your attorney will also be able to hold your note holders accountable and motivate your lenders to move the process along expeditiously. Our attorneys can also subpoena records and original loan documents and conduct audits if the lender’s cooperation is lacking.

Why should I work with Kerry Steigerwalt’s Pacific Law Center?

Our Firm’s reputation precedes itself, and you can be sure that your lender knows who we are. Our Firm prides itself on maintaining the highest level of client service and professionalism. We offer convenient and fair financing plans that no other firms offer and have faithfully served the people of San Diego for many years. 

What is a Home Loan Modification?

A loan modification is a process by which the lender agrees to change the terms of the loan in order to make payments more affordable for the borrower.  This may include reducing the interest rate, lowering the principle balance, extending the loan term, tacking past due amounts on to the back of the loan and various other options.

Does loan modification affect my credit?

There is, unfortunately, no hard-and-fast answer to this question. As most people in need of a loan modification are already behind on payments, their credit is already in jeopardy.  However, the loan modification process itself does not have a negative impact on the borrower’s credit rating.

Do I qualify for a San Diego loan modification?

Most likely, especially if you are behind on your payments, upside down on your home, have an adjustable rate mortgage or have recently suffered a financial hardship. Our intake specialists and attorneys can quickly review your case to determine whether you are candidate for loan modification and you can be assured that our attorneys won’t take your case unless they believe they can help you.

How long does a loan modification process take?

The timeframe varies on a case-by-case basis, but the typical case takes between 1-6 months. Oftentimes, at the outset of the loan modification process the attorney and the lender will agree to halt the initiation of the foreclosure process until both parties have had the opportunity to negotiate the terms of a loan modification.  Furthermore, one the process has begun and the loan placed in dispute, the borrower is protected by law and the lenders are longer report negative information to the credit bureau.

I have already talked with my lender and they refuse to work with me, can Kerry Steigerwalt’s Pacific Law Center still help me?

Absolutely.  Your lenders have no choice but to deal with us once legal action begins.

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