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Mortgage Foreclosures & Loan Modifications

Homeowners fighting foreclosure want to keep their homes.  The holy grail is the mortgage modification.  Unfortunately, mortgage modifications, whether through the Obama mortgage modification program, the Home Affordable Mortgage Program, HAMP, the Home Affordable Refinance Program, HARP, or private non-HAMP or non-HARP mortgage modification agreements are all too rare and all too few.

Even worse, too many mortgage modification firms promise results which they can’t deliver.  Never pay a mortgage modification firm an upfront fee.  You can get help from a HUD approved agency, which can be found at HUD.gov. At Lakelaw, we defend against foreclosures.  If we are successful in your foreclosure defense, we might avoid a deficiency judgment against you.  We might also be able to negotiate a favorable modification to your mortgage.  Law firms are not subject to regulation as a mortgage modification firm in either Illinois or Wisconsin.

Beware of anyone who promises you too much when defending against mortgage foreclosure.

Remember, mortgage servicers don’t want to modify your loan.  They want to foreclose.  They make more money by foreclosing than modifying.  Mortgage modification costs servicers money.  Don’t believe anyone who tells you anything different.

Lakelaw has mediation experience. In 2009, Lakelaw became the only private law firm in Wisconsin to receive funding from the Wisconsin Housing and Economic Development Authority (WHEDA) to fight foreclosures. We’ve done so by advising clients across the state about their legal rights and responsibilities, presented training sessions throughout Wisconsin to other attorneys, and attended dozens of mediations in Milwaukee and Waukesha County on behalf of local homeowners.

When the United States Bankruptcy Court for the Eastern District of Wisconsin was creating a pilot program with similar guidelines, they asked that Lakelaw appear along with other law firms providing guidance on the language and structure of the program.

Lakelaw focuses on two main avenues of financial freedom: consumer bankruptcy and foreclosure defense. Lakelaw can provide separate guidance on fighting the foreclosures. We can also appear on your behalf at the Kenosha/Racine mediations, providing advice and guidance through a complicated process against local and national banks.

Please visit our website at www.lakelaw.com, or call (262) 694-7300 to learn more about us and our values. We have two convenient Wisconsin offices to serve you.

Mortgage Foreclosures & Loan Modifications


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