Top Philadelphia, PA Loan Modification Attorneys Near You

Philadelphia Loan Modification Information

What Mortgage Loan Workouts Are For

A mortgage loan workout, also called a mortgage modification, is a plan detailing how to restructure a home loan when the homeowner is facing foreclosure. Lenders consider the seriousness of the hardship, the balance of the loan, earned equity, and the borrower's future financial prospects. Lenders may lower the interest rate or extend the loan.

How a Mortgage Loan Workout Lawyer Can Help

If you are considering a mortgage loan workout you should first consult a Philadelphia lawyer who handles workout cases. The lawyer can guide you through the workout process, advise you about your alternatives, such as a short sale, negotiate with the lender and protect your interests.

Top Questions to Ask When Hiring an Attorney

  • How many years have you been practicing law? How long have you practiced law in the local area?
  • How many cases similar to mine have you handled in the past?
  • What is the likely outcome for my case?

In legal practice, experience matters. An experienced attorney will likely have handled issues similar to yours many, many times. Therefore, after listening to your situation, the attorney should have a reasonable idea of the time line for a case like yours and the likely resolution.

The Importance of a Good Consultation

The goal of an initial consultation is to find an attorney you are comfortable working with and someone who can help you understand your options under the law. Seek to understand the relevant legal experience the attorney brings to your case. While it is not realistic to expect an attorney to resolve your legal issue during an initial consultation, you should gain a level of comfort with his/her ability to do so. A good consultation can clarify issues, raise pertinent questions and considerations for your case, and help you make an informed decision towards resolving your legal issue.

Tips on Hiring an Experienced Lawyer with Loan Modification Cases

The more experienced a lawyer is in legal practice, the more likely he/she will be able to bring about a successful resolution to your issue. Since experience matters, lawyers who've been practicing law for many years (with a successful track record) tend to be in high demand. You should look for information about a lawyer's experience and ask questions during the initial meeting. It's a very good idea to ask the lawyer how many years he/she has been practicing law and the expected outcome of your case.

Common legal terms explained

Plaintiff - a person or party who brings a lawsuit against another person(s) or party/parties in a court of law. Private persons or parties can only file suit in civil court.

Judgment - A decision of the court. Also known as a decree or order. Judgments handed down by the court are usually binding on the parties before the court.

Lead Counsel Rated Attorneys

Lead Counsel's objective process independently verifies attorney records, conferring with state bars across the country and conducting annual reviews to confirm that the attorney practices in the legal categories as indicated, possesses a valid bar license, and is eligible to practice in the specific jurisdiction.

Court Locations in Philadelphia, PA

Philadelphia Civil Court

297 Philadelphia Pedestrian Transit,Philadelphia,PA19147
Phone: (215) 686-5100

The Philadelphia Courts- Criminal Justice Center

1301 Filbert St.,Philadelphia,PA19107
Phone: (215) 686-1776

Court of Common Pleas

Philadelphia City Hall, Chestnut St,Philadelphia,PA19107
Phone: (215) 686-7000