As I have noted on several recent occasions, the government's Making Home Affordable program has come under criticism on several fronts. The program was intended to help responsible homeowners in California and elsewhere in the country hold onto their properties by assisting them with California loan modifications.
New proof that this program and numerous similar efforts have failed to live up to their promise came a few days ago in the San Francisco Chronicle. As the paper reports, only about 31,000 homeowners nationwide have received government-assisted loan modifications this year, even as the number of homes facing foreclosure in 2010 is now estimated at around 1.7 million.
It is at times like these that the assistance of a Bay Area loan modification attorney can be invaluable. A skilled San Francisco loan modification lawyer can advise you on the advantages and disadvantages of both government and privately arranged programs, as well as representing you when you do, finally, sit down with your lenders.
Holding onto your home in these economically difficult times can be a challenge. Putting an experienced loan and negotiation professional in your corner can make all of the difference between success and failure.
San Francisco Chronicle: 2009's mortgage modifications pretty minor
