Lead Counsel independently verifies Loan Modification attorneys in Riverside by conferring with California bar associations and conducting annual reviews to confirm that an attorney practices in their advertised practice areas and possesses a valid bar license for the appropriate jurisdictions.
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.
If you are considering a mortgage loan workout you should first consult a Riverside 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.
It is in your best interest to get legal help early on in addressing your situation. There are times when hiring a lawyer quickly is critical to your case, such as if you are charged with a crime. It may also be in your best interest to have a lawyer review the fine print before signing legal documents. A lawyer can also help you get the compensation you deserve if you’ve suffered a serious injury. For issues where money or property is at stake, having a lawyer guide you through the complexities of the legal system can save you time, hassle, and possibly a lot of grief in the long run.
Bill by the hour: Many attorneys bill by the hour. How much an attorney bills you per hour will vary based on a number of factors. For instance, an attorney’s hourly fee may fluctuate based on whether that hour is spent representing you in court or doing research on your case. Attorneys in one practice area may bill you more than attorneys in a different practice area.
Contingent fee: Some lawyers will accept payment via contingent fee. In this arrangement, the lawyer receives a percentage of the total monetary recovery if you win your lawsuit. In sum, the lawyer only gets paid if you win. Contingent fee agreements are limited to specific practice areas in civil law.
Flat fee: For “routine” legal work where the attorney generally knows the amount of time and resources necessary to complete the task, he/she may be willing to bill you a flat fee for services performed.
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.