Housing Help

If you’re upside down in your home, contact your lender and see if they will negotiate a reduction in principle. Most lenders will drag their feet when it comes to loan modifications and we can't tell you the number of people we've heard of who have been lost in the government's attempt to "fix" the problem with their programs. If your lender won’t renegotiate or they constantly delay, find an attorney who specializes in these types of deals. 

In the Phoenix area, we’ve known Len Munsil for years. He is a trustworthy and honest attorney (we know, those words just don't seem to go well together). His organization (Mueller Drury and Lawrence 480.443.5626) helps families get out from under oppressive loans.

Research carefully, ask lots of questions and get everything in writing. If Len’s group can’t help you, they can refer you to someone in your state who can.

Try this google search for loan modification attorneys. Just be sure you ask a boat load of questions, take copious notes and get references before you sign on with any attorney.

Anti-Deficiency Laws   Some states have rules regarding foreclosure and the recovery of outstanding loan balances. If your state has an Anti-Deficiency law and your home is foreclosed, the lender may not sue you for any difference between what they sell the house for and what you owe on your mortgage. There are many rules regarding this, so please be sure to do your research and find a competent lawyer to assist you.

Read about Anti-Deficiency Laws in different US states.

Right Click to open this link in a new window