The Law Office of M.E. Ludt, LLC
NATIONWIDE FORECLOSURE DEFENSE ATTORNEYS
NATIONWIDE FORECLOSURE DEFENSE ATTORNEYS
Frequently Asked Questions
QUESTION: Do I need to be delinquent or behind on my mortgage to qualify for assistance?
ANSWER: No. Mortgage loan mitigation is meant to help people in financial hardship. Banks are more willing to help borrowers in trouble, and having struggled to maintain your payments despite financial hardship is looked upon favorably.
QUESTION: Is it too late to help clients who have received a Notice of Trustee Sale or Notice of Filed Foreclosure?
ANSWER: No. Our service providers can assist our clients with foreclosure representation up to a few weeks before the actual transfer sale date. However, if you are thinking of getting assistance, please don't wait until you have received a notice of sale. Your chances of reaching a successful resolution diminish the longer you wait. Any reputable attorney needs ample time to prepare a defense in order to effectively represent the interests of a client.
QUESTION: Do you work with all lenders?
ANSWER: Yes. We work with any and all lenders and the results will typically vary with each lender. The results will depend not only upon your lender, but also the specific details of your case. We have established contacts at all major lending institutions. These relationships have saved our clients millions of dollars in successful loan modifications.
QUESTION: Can you help me with properties that I'm not living in or currently renting out?
ANSWER: Yes.
QUESTION: What do you look for in clients?
ANSWER: We can help anyone in financial trouble, but certain conditions can make our job easier. Ideal clients are those homeowners who:
QUESTION: Can you help unemployed homeowners?
ANSWER: Yes.
QUESTION: How long does it take to get a response from my lender?
ANSWER: The average initial response is 7-10 business days, but it varies from one client to the next. The entire mortgage mitigation process typically takes about 60 days. Some cases process faster than others and are mostly dependent on the lender’s response times.
QUESTION: What interest rates can I expect after a loan workout?
ANSWER: The results vary from case to case, but many of our clients have been modified to interest rates between 2.5% and 5.5%.
QUESTION: Do I need to pay for your services in advance?
ANSWER: No. Our retainer agreement calls for payments on a performance basis. You pay an initial retainer fee to get started and a monthly fee until your case is resolved.
QUESTION: How do I pay to retain your legal services?
ANSWER: You can pay by check, money order, cashier's check, MasterCard, VISA, or Discover.
ANSWER: No. Mortgage loan mitigation is meant to help people in financial hardship. Banks are more willing to help borrowers in trouble, and having struggled to maintain your payments despite financial hardship is looked upon favorably.
QUESTION: Is it too late to help clients who have received a Notice of Trustee Sale or Notice of Filed Foreclosure?
ANSWER: No. Our service providers can assist our clients with foreclosure representation up to a few weeks before the actual transfer sale date. However, if you are thinking of getting assistance, please don't wait until you have received a notice of sale. Your chances of reaching a successful resolution diminish the longer you wait. Any reputable attorney needs ample time to prepare a defense in order to effectively represent the interests of a client.
QUESTION: Do you work with all lenders?
ANSWER: Yes. We work with any and all lenders and the results will typically vary with each lender. The results will depend not only upon your lender, but also the specific details of your case. We have established contacts at all major lending institutions. These relationships have saved our clients millions of dollars in successful loan modifications.
QUESTION: Can you help me with properties that I'm not living in or currently renting out?
ANSWER: Yes.
QUESTION: What do you look for in clients?
ANSWER: We can help anyone in financial trouble, but certain conditions can make our job easier. Ideal clients are those homeowners who:
- are already in foreclosure
- have received a notice of default
- have an adjustable-rate mortgage that has already increased
- have negative amortization loans
- have a loan amount which is greater than the value of the house
- are experiencing hardship due to a bad loan or predatory lending
QUESTION: Can you help unemployed homeowners?
ANSWER: Yes.
QUESTION: How long does it take to get a response from my lender?
ANSWER: The average initial response is 7-10 business days, but it varies from one client to the next. The entire mortgage mitigation process typically takes about 60 days. Some cases process faster than others and are mostly dependent on the lender’s response times.
QUESTION: What interest rates can I expect after a loan workout?
ANSWER: The results vary from case to case, but many of our clients have been modified to interest rates between 2.5% and 5.5%.
QUESTION: Do I need to pay for your services in advance?
ANSWER: No. Our retainer agreement calls for payments on a performance basis. You pay an initial retainer fee to get started and a monthly fee until your case is resolved.
QUESTION: How do I pay to retain your legal services?
ANSWER: You can pay by check, money order, cashier's check, MasterCard, VISA, or Discover.