Can a lawyer help me deal with my mortgage company?

Asked over 2 years ago - Chester, NY

I am underwater on my house (about $40000), have tried unsuccessfully to refinance twice (in 2009 and 2010) and tried for a loan modification (unsuccessfully) last year (the loan mod was unsuccessful b/c we have never missed a payment). The interest rate is 6.75% and it's a 40 year loan. My husband just lost his job and I am pregnant. I want to be proactive in dealing with this. We do not want to lose the house. What can we do?

Attorney answers (2)

  1. Krishnan S. Chittur

    Contributor Level 12


    Lawyer agrees


    Answered . You may be entitled to a loan modification or, under the program announced yesterday by the federal government, even a reduction of principal. You should consult with a competent lawyer knowledgeable in this area; there are many legal services organizations and pro bono institutions which have very good lawyers. If you do not get good held, the bank will quite likely take you to the cleaners.

    If you do not have a signed retainer fee agreement with Chittur & >Associates, P.C., ("the Firm"), then until... more
  2. Eric Lechtzin

    Contributor Level 16

    Answered . A lawyer could help you defend against a foreclosure if that happens. Doubtful that a lawyer will be able to help you get a modification. Moreover, be very suspicious of any company that wants money upfront to help you get a modification. Many are outright scams.

    Legal Information is Not Legal Advice My answer provides information about the law based on the limited... more

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