1st American Law Center Loan Modification Department offers help to struggling homeowners

Jan. 12, 2010 - PRLog -- Homeowners across the U.S. are still feeling the crunch from the housing bubble that hit the country earlier this year. As sub-prime mortgages reverted to regular interest rates, a large number of homeowners have found themselves unable to make ends meet, and many have lost their homes to foreclosure. The number of foreclosures peaked in 2007, and according to experts, the situation is yet to stabilize.

The Loan Modification Department of 1st American Law Center, offers a promising solution to homeowners at risk of losing their homes. Loan modification is a contract between a lender and borrower to restructure a mortgage, designed to help struggling borrowers meet their financial obligations. The Loan Modification Department helps homeowners negotiate better rates with their lenders and avoid drastic measures such as foreclosure.

The team is led by Dean G. Chandler, an established lawyer who has handled thousands of successful loan modifications. Dean has been in the business for 20 years and has established contacts with all major American lenders. The rest of the team consists of experienced attorneys, mortgage and real estate professionals, and hardship analysts, all of whom ensure full representation for homeowners in financial trouble.

The loan modification process starts with a legal consultation. The Loan Modification team will review the borrower's financial situation and history, ask for supporting documents, and then will work out a customized negotiation plan. Also part of the plan is to review the original loan documents for violations of the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA), which can be used as leverage during the appeal. The team then sends the application to the lender and begins negotiations.

The Loan Modification Department takes pride in its aggressive yet measured approach to the loan modification process. All clients are fully informed of their options, and are guided through the application from start to finish. Unlike others, the law offices of 1st American Law Center Inc, will keep negotiating until lenders make a reasonable offer. Dean and his team have successfully negotiated interest rates to as low as 2.5%, and can stop foreclosures even after the homeowner has received their notice of sale.

The real estate crisis has caused a significant rise in loan modifications, and subsequently in loan modification firms. But the Loan Modification Department of1st American Law Center has a clear head start and remains one of the most ethical and reliable loan modification firms in the Southern California region. Interested homeowners can reach them at 1-866-247-5865 or visit http://www.1stamericanlawcenter.com

1st American Law Center is a national law firm specializing in personal injury, criminal, dui, bankruptcy and loan modification. For more information log on to http://www.1stamericanlawcenter.com

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It is our mission and highest priority is to provide Americans in every city with an ethical, affordable, and effective program in obtaining multiple solutions to financial freedom. Our vision is to create the largest and most reputable law firm in the country by providing education, customized client resolutions, and 100% customer service/satisfaction. It is evident, through the financial crisis that is taking place in all aspects of lending, that consumers need a personal advocate to help intervene. 1st American Law Center is that advocate and we are committed to protecting all Americans from predatory lending and financial distress. It is our confident belief that success ultimately depends on establishing a customer service and relationship oriented environment, that instills the integrity in each team member in the crusade of "Protecting The American Dream."