Home Loan Modifications   Is your mortgage payment too high?  Has your ARM increased (or is it about to increase) so that you can no longer afford the payments?  Are you facing foreclosure?  Do you want to sell your home but you owe more than your home is worth?  Could you afford your mortgage payment if it were 10 to 30 percent lower?  Perhaps your lender violated the consumer protection laws (such as RESPA or the Truth in Lending Act). There are many reasons why you may want to renegotiate your home loan -- and particularly since the Obama Administration's new loan modification program is now in effect, there is more reason than ever to believe that lenders (at least those which participate in the new program) will be willing to consider renegotiating the terms of home loans for qualified borrowers. The terms of the new loan modification program have been widely reported in the media and they may sound simple.  But like most government programs that may not necessarily be the case, particularly if you are not a full-time real estate professional, or if you are not accustomed to wading through government jargon.  For example, the new program uses terms like "front end" and "back end DTI" and "Standard Waterfall."  Do you know what these mean -- and how they might impact on your ability to obtain a modification of your home loan?  We do, because we've already spent a lot of time studying the new guidelines and what they mean -- and that means that ALG Loan Modification clients won't have to spend their own valuable time trying to figure them out.  Please take a look at our list of Frequently Asked Questions (FAQs) about the new program. Remember, too, that the government rules provide that those who decide to take advantage of this program only get one "bite at the apple" -- once you've modified your home loan under the new program, you can't do it over again. That means that you need to maximize the benefits that are available to you under the loan modification program because you've only got one chance to get it right. Then again, there are some loans that won't qualify for inclusion in the new program -- loans for rental properties, for example.  But just because some loans don't fit into the President's program, doesn't necessarily mean that lenders won't be willing to work with you to modify your loan -- particularly if you can persuasively set forth the facts of your own situation and demonstrate to the lender that modification of your loan is in the bank's own financial interest. Whether or not your loan qualifies for inclusion in the government's loan modification program, we may be able to help you.  Take advantage of our free initial consultation to talk with our real estate attorney, Kathleen McDermott, and see what ALG can do for you. Kathleen McDermott is a Virginia attorney with over 20 years of experience in real estate law.  She has handled thousands of loan closings and is familiar with all kinds of mortgage loan products, lender practices, and the laws that have been put in place to protect borrowers.  Kathleen also has represented clients in numerous real-estate related contract negotiations.  And she already has spent many hours getting up to speed on President Obama's new loan modification program.  If you qualify for that program, she can help you assemble your facts and work with you to obtain the right deal for you under the program.  And even if you -- or some of the properties you own -- don't qualify for the new program, she still may be able to renegotiate a better rate and/or better loan terms (such as lower monthly payments) with your lender(s).  She may also be able to renegotiate your payoff or prepayment penalty terms if you are attempting to market your home -- or rental properties -- as a short sale. Every borrower's situation is different.  Every lender is different.  Even with the President's new program, there is not a "one size fits all" approach to loan renegotiation and loan modification.  Kathleen is available to meet with you in-person or over the phone for a 20 - 30 minute free confidential consultation.  She will discuss your problem with you and, together, you can decide whether it would be helpful for her to represent you. For those clients to whom ALG provides loan modification services, we accept major credit cards for payment of our fees.  Kathleen can be reached at (703) 848-8318 or kmcdermott@alliancelawgroup.com.    PLEASE CLICK ON THIS LINK FOR AN IMPORTANT FRAUD ALERT!!     Representative Projects Please also see our services in corporate law, telecommunications, technology, or Internet or Electronic Commerce matters.   ALG Legal Services Quick Reference Legal Services Overview   Commercial Real Estate   Corporate Law     -Start-Up Enterprises     -Virtual General Counsel   Home Loan Modifications   Intellectual Property   International Practice   Internet and Electronic Commerce     -Internet Legal Audit   Technology     -Emerging Technology and Technology Transfer   Telecommunications     -Spectrum Management Our Fee Structures Representative Projects List Terms and Conditions of Use