Finding an attorney that can help you with your loan modification is a great way to one-up the banks when trying to protect your home from foreclosure. However, you should not hire an attorney who simply does loan modifications. A licensed attorney must also provide foreclosure defense. The loan modification process alone does not protect you from foreclosure.
Anyone can submit a loan modification
You don't have to be a lawyer to submit a loan modification to the bank. However, banks can be very selective about which loan modifications they do and don't accept.
Foreclosure defense can usually prolong foreclosure a long time. In many cases, people will stay in their homes at least a year before a sale date is even set on their home. This means that some homeowners may want to prolong the foreclosure process while they work out a solution to keep their home, or as a means to save money before they eventually move out of the house.
