Margaret Becker, Homeowner Defense Project Director, is quoted in the piece discussing the importance of legal help in a foreclosure case.
From the article:
"It often makes the difference between keeping the home and losing the home," Ms. Becker said.
Eligible residents can also apply for mortgage modifications through the federal Home Affordable Modification Program (HAMP), although critics such as Ms. Becker contend the program isn't nearly as effective as it should be.
Lending institutions can offer their own loan modifications.
Even so, Ms. Becker said most of the 200 open cases in her office consist of loan-modification requests wrongly denied.
But the majority of homeowners are flummoxed by the legalese in mortgage documents and don't realize they can fight back, she said.
"It's very difficult for an unrepresented homeowner to challenge that," said Ms. Becker, whose office, despite serving 920 borough households since 2006, is in danger of losing significant city and state funding.
Even with an attorney on board, loan-modification requests are often shot down -- multiple times in some cases -- and must be vigorously pursued, she said.
Read the full article at SILIVE.COM.