SOURCE: American Residential Law Group

American Residential Law Group

August 31, 2010 06:00 ET

American Residential Law Group Provides Homeowners With Tips for Surviving Home Loan Modifications

With Proper Guidance, Homeowners Can Feel More Confident About Keeping Their Homes

FORT LAUDERDALE, FL--(Marketwire - August 31, 2010) -  Many Americans are staggering under the weight of their mortgage, but American Residential Law Group, an industry-leading firm dedicated to protecting the interests of homeowners, has provided important tips and strategies for loan modifications to ensure homeowners get the most favorable terms they deserve.

American Residential Law Group stresses to homeowners facing possible foreclosure, or those already in the process, to start the loan modification now. It used to be that a loan modification was only an option for homeowners in default, but the new federal assistance programs do not require homeowners to be in default to get started. Home loan modification programs can help homeowners reduce their mortgage payments to 30% of their gross monthly income.

As homeowners begin to think about loan modifications, an important question to consider is whether to seek out professional help or not. An option is to tackle a loan modification by yourself, but you have to decide if you have the time and the skills needed to complete a loan modification. American Residential Law Group says spending money on an attorney who's an expert in these issues can be money and time well spent. There are also other resources such as nonprofit housing groups that can provide homeowners with advice, just make sure you are not falling into a loan-modification scam.

One of the most important parts of pursuing a loan modification is to be honest. In your application, you will have to disclose a lot of financial information and disclose it to your lender. To ensure the process goes well, the information needs to be honest. Stretching the truth when trying to convince your lender to approve your loan modification is tempting, but this can guarantee you a rejection letter if caught. If you decide to hire professional help, they can help you turn in all necessary paperwork with the correct information.

American Residential Law Group urges any homeowner facing the prospect of losing their home to consider a home loan modification. You can take control of your situation and avoid foreclosure all together.

To learn more about home mortgage modifications and how American Residential Law Group can be of assistance to you, visit them at http://www.ARLGNow.com.

About American Residential Law Group: American Residential Law Group is a law firm that strives to provide the community with legal assistance and all the benefits to which consumers are entitled under the law.

Contact Information

  • Contact

    Name: American Residential Law Group

    Address: 6245 S Federal Hwy #401
    Fort Lauderdale, FL, 33308

    Phone: (877) 236-6576

    Web Address: http://www.ARLGNow.com