How much can a lawyer charge for a loan modification and short sale?

Asked almost 5 years ago - Miami, FL

I would like to know which is the correct price to pay to get legal assistance on a loan modification and short sale?
Is it possible to get a flat fee?

Attorney answers (1)

  1. Bruce Jacobs

    Contributor Level 8

    Answered . The short answer is you get what you pay for. Some attorneys offer cut rate prices and do very little in return. If you are serious about avoiding the dangers of foreclosure and a deficiency judgment, you should be less concerned about price and more about quality.

    If your house is worth less than you owe, the Bank has the right to seek a deficiency judgment against you for the difference. Many banks will give up that right to avoid a lengthy difficult foreclosure. A deficiency judgment could be $100K or more. Don't eat cheap sushi and don't hire the cheapest lawyer. Neither one is a good idea.

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