Ayayo Law Offices
1501 Westcliff Drive
Suite 260
Newport Beach, CA 92660
ph: (949) 612-0340
fax: (949) 612-0341
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Loan Modification Services
Are you in danger of losing your home to foreclosure? Let us help you save your home now. We are not former mortgage brokers or other “industry professionals” who helped create the current financial crisis; we are simply lawyers who are here to help you through this challenging process.
The first order of business is for us to sit down with you and get a clear understanding of your current financial situation and the circumstances behind your loan.
At these early stages, we will have a forensic loan audit performed by an outside company to determine whether there were any violations of the Federal Truth in Lending Act or related consumer protection laws. If the lender violated any of these laws, that will factor into how we proceed.
Loan Modification (You want to stay in your house, but cannot afford the current payment)
If you have hit a rough patch and have a realistic chance of being able to stay in your home if your payments were affordable and other loan terms were adjusted to reflect the market’s current realities, you should first attempt to obtain a loan modification. This requires that the lender agree to change your current loan’s terms so that it is affordable enough that you can stay in your home. This can be achieved through a combination of interest rate reduction, reduction in principal balance owed, and the extension of the term of the loan (how long you have to pay it off). If the forensic loan audit reveals any violations, we will use that as leverage in these negotiations.
Loan Modification (You are willing to walk away from your house, but want to minimize the damage to your finances and credit)
During the course of the negotiations, you may decide that you no longer wish to keep the house. If that is the case, we will attempt to get the bank to agree to a short sale, deed in lieu of foreclosure or a “cash for keys” deal that will help you get out from under your loan with the least pain possible. Again, these are negotiated deals that require the bank’s cooperation and consent. It is crucial that you get a finalized agreement with the best terms possible before you move out of the house.
It's a harsh reality that in these times, many people simply cannot afford their mortgage payments for whatever reason. We're here to help you make the best of a bad situation.
1501 Westcliff Drive
Suite 260
Newport Beach, CA 92660
ph: (949) 612-0340
fax: (949) 612-0341
info
