Individuals such as Mr. Mozilo were committing two major crimes (allegedly):  the first was selling incredibly flawed and risky mortgages to home buyers who would later go into foreclosure; and the second was presenting company assets as high-quality when they were actually “toxic” or “poison” in hindsight.  Some of these individuals will go to prison because of the securities fraud, others will be convicted of mortgage fraud.  However, the people who are facing foreclosure won’t be assisted by any of these convictions, because it won’t stop their foreclosure proceedings.

In the end, one of the only things that can put a halt to home foreclosure proceedings is a highly qualified loan modification company.  A home loan modification company can work with lenders, on behalf of homeowners, to negotiate the terms of their mortgage with the end result being a lower monthly payment.  Even as subprime mortgages created situations where a $1,500 payment turned into a $5,500 payment, home loan modifications can turn that situation back around.  A qualified California home loan modification company, for example, can negotiate with a lender (bank or mortgage company) to lower the overall interest rate, alter the length of the loan, reduce the principal balance, or some other formula to get payments back to a realistic monthly amount.

As executives from Countrywide and other corporations are facing the music for their misdeeds, loan modification companies are assisting average Americans to overcome those same misdeeds.  A loan modification attorney can work with you to get your paperwork and financial information in order so that the loan modification process goes quickly and smoothly.  A California loan modification company with years of experience will know the ins-and-outs of the loan modification process and how to avoid foreclosure.

The California loan modification and FDIC home loan modification programs are working, and California loan modification attorneys can help you take advantage of these programs.  For example, in January of 2009, there were only 14,351 foreclosures in the state of California, down from 20,952 the month before.  Loan modification attorneys have been helping people more and more.  However, the reality is that there are still tens of thousands of people going through foreclosure every month, in part because they don’t have the expertise of a loan modification company by their side.  People live in fear of answering phone calls and think anyone trying to help them just wants money.  However, doing nothing will result in the loss of a home, and the concept of homelessness is not something Californians are accustomed to.  The loan modification companies with years of experience in the industry and that utilize a California home loan modification attorney can be the difference between living in a home for the next twenty years, and living on the streets.