Modifying a mortgage is not as easy as one would have you believe.  Lately, loan modifications have become the en vogue strategy to lower your mortgage payment or stop a foreclosure.  In fact, unlicensed companies are cropping up everywhere, which should be a concern for any consumer.  Not only is it against Nevada law for loan modification “companies” to take money up front, but most of these companies are merely mortgage brokers, which caused many of the problems we face today.  Below are just a few reasons why you should hire a law firm to modify your loan.

1. The basis of any mortgage is contract law.  When you purchase a home you sign legally binding documents, which his why your lender can foreclose on your property.  Any loan modification involves an initial review of your loan documents and an understanding of the laws and regulations involved, which are continuously changing.
2. The next step is negotiation.  If a loan modification “company” sends a letter requesting a loan modification based upon errors in your loan documents will they get the same response as a law firm?  NO.  A law firm can actually take action, where a loan modification “company” has nothing but futile and empty threats.  An attorney is trained to put forth the facts and reasoning why a lender should modify your loan.  Not only is an understanding of the law important, but the skills an attorney has acquired over the years negotiating cases, winning trials, and persuading juries is vital to the success of your loan modification. 
3. Lastly, you need a trained expert reviewing the modification, which is a legally binding document, to ensure everything is correct.  Importantly, an attorney has the skills and knowledge to ensure you don’t miss the fine print lenders are notorious for including.

You must remember that you are negotiating new terms for the most important purchase you ever made – YOUR HOME.  Do you really want to risk your home with a former mortgage broker or would you rather employ a trained legal professional who is aggressively pursuing your best interest?