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Debt Relief Practice Areas
Foreclosure Defense
Short Sale Deed in Lieu
Loan Modification
Bankruptcy
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Loan Audits
Foreclosure Loans

Loan Modification in Ventura, San Bernardino and Los Angeles

Avoid Foreclosure - Contact an Attorney Today!

When a homeowner falls behind on his or her mortgage payments, the lender may threaten foreclosure. If you own a home in Los Angeles, Ventura or San Bernardino and feel that you may be facing foreclosure because you have defaulted on your mortgage payments, a loan modification may be an option to consider.

By calling the Law Offices of John Ribarich today, you can talk to an experienced foreclosure defense attorney about what you can do in this situation. By discussing your options with you and conducting a review of your financial situation, an attorney at our offices can assist you in making the right choice about moving forward with a loan modification. We are skilled in negotiating loan modifications for clients who are facing overwhelming debt or other financial hardships and are facing the possibility of foreclosure.

New Loan Modification Law Passed in California

In 2008, a new law was passed in California that greatly benefits homeowners facing foreclosure. Under this law (California Civil Code 2823.6(b)) a lender is required to accept a loan modification for any residential loan under the following circumstances: the homeowner has defaulted on his or her payments, the lender will recover more money by agreeing to the loan modification rather than following through with foreclosure, and the mortgage loan was made between January 1, 2003 and December 31, 2007.

If you are interested in finding out whether your Los Angeles, Ventura or San Bernardino home will qualify under the new loan modification laws, contact a loan modification lawyer at our offices today. We understand that you may want to do everything you can to save your home, and that is precisely what we can assist you with.

Contact a loan modification attorney at John Ribarich today.





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Address: 15223 Burbank Blvd.    Sherman Oaks, CA 91411    Phone: (877) 306-6343

Further Disclaimer: By now, you may have made your own attempts at loan modification. You now know what we have known: Despite all the government and media hype, the voluntary loan modifications are not the silver bullet to the foreclosure crisis. Even after President Obama introduced the HAMP program, only about 8% of the anticipated 9 million loan modification applications have been considered. Never forget that lenders and loan servicers are in the business of making money for their shareholders, not solving people’s financial problems. Despite the incentives created by the government, loan servicers remain inconsistent, negligent, understaffed, arrogant and just plain indifferent to the financial plight of most folks. If you’ve ever wondered why the bank doesn’t seem to care? Consider that it is the investor, not loan servicer, takes the financial hit when a property is foreclosed. Loan servicers make more money when a borrower falls into foreclosure. Servicers have an incentive to drag out the foreclosure and loan modification process. Despite what the government and the lenders may say, the loan modification or short sale process is not as quick and easy as has been portrayed.

VIOLATIONS CAN GIVE YOU LEVERAGE to secure a “SETTLEMENT”, not a LOAN MODIFICATION.

Whether hiring a lawyer will increase your chances for success a little or a lot depends on whether the lender has done something wrong. This is why Attorney Ribarich encourages every client to commission an audit of the original loan documents, review the appraisal and take measure of any agency relationships between the broker, the lender, the appraiser, the escrow and the title companies. Anecdotally, Attorney Ribarich believes that your chances of success increase fourfold if there is litigation or bankruptcy. Hiring a lawyer to review your options and handle the process makes sense. Your chances of obtaining a substantial loan modification will be greatly improved if the lender has violated the law…but how will you ever know? A lawyer can help you gain negotiating leverage on your behalf by finding violations of the law or capitalizing on provisions of the bankruptcy code.