Restructuring

If you have not missed payments or perhaps find yourself owing more than your home is worth, you may be able to redo your loans without having to bear the cost of refinancing.

A loan restructuring may enable you to reduce your principal, especially in areas where property values have fallen drastically and many owners are thinking of "walking away."

In seeking to restructure a loan, the homeowner re-examines the loan at the point when it was originated. Foreclosure Defense LLC. attorneys working with attorneys search the documentation of the loan to see if it was predatory in nature or, if not, if it did not fully comply with federal Real Estate Settlement Procedures Act (RESPA) requirements. If a flaw is found, the original loan is voided and restructured (not modified). This allows the homeowner or his representative to negotiate with the lender from a position of strength. If the loan was "bad" from the beginning, why modify a loan to the advantage of the lender? Restructuring is clearly the best option for the homeowner.

If the loan is found to be predatory or in violation of RESPA, the homeowner may also be eligible for a refund of all or part of the original closing costs.