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Follow on Google News | Loan Modification Free Consultation- Janian and AssociatesJanian and Associates Loan modifications help prevent foreclosures and bankruptcy. It is a win-win situation for all parties involved and can greatly benefit the economy.
By: Ginger Taylor Since February, a whopping 1,700 borrowers have received new loans under the loan modification program. The poor results are being attributed to the unwillingness of borrowers to submit the paperwork required to apply for the loan modification. The banks say that one of the biggest problems is that the homeowners who could probably qualify for loan modifications simply don't submit complete applications. They need to fill out the paperwork completely in order to qualify. Less than 40% of homeowners who could qualify have completed the application process. As a result, Janian and Associates is offering free consultations to homeowners facing the possibility of foreclosure. These free consultations are to educate homeowners about the loan modification process, their rights and options. The overall objective is to protect the rights of homeowners and find solutions. What is a loan modification? Loan modification is the process that enables homeowners and lenders to work together to establish new loan terms in an effort to prevent a foreclosure from happening. This process does not establish a "new" loan, it simply modifies a homeowner's existing loan. There are certain requirements homeowners must meet in order to qualify for loan modification. For example, many homeowners have been laid off from their jobs or downsized as a result of the recession. These unpredictable circumstances have caused many hardworking families severe financial hardship. In such instances, 31% or more of the homeowners' gross monthly income is going towards their monthly mortgage payments. Such extenuating circumstances meet the basic requirements. Janian and Associates has performed successful loan modifications in all 50 states and has had great success getting loan modifications with the following mortgage companies: AMC Mortgage American Home Mortgage Service Bank of America Beneficial Chase Citi Mortgage Citi Financial Countrywide Home Loans EMC Everbank First Franklin Freddie Mac GMAC Homecomings Financial HomEq HSBC Bank IndyMac Litton Midland M&T Bank National City Ocwen Mortgage Option One Saxon Select Portfolio Services SunTrust Wachovia Washington Mutual (WAMU) Wells Fargo Wilshire # # # Janian and Associates is a full service law firm with various practice areas such as: Loan Modifications, Mortgage Fraud Litigation, and foreclosure help consultations (Short Sales and Deed in Lieu of foreclosure help). For a free consultation and to find out more information about the loan modification process visit www.janianandassociates.com End
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