Connecticut Home Loan Modification – Modify Your Mortgage in Connecticut

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Foreclosure is a legal procedure intended by a bank or lender to get the owner’s rights over the assets of the debtor that defaulted on his/her loan. The bank employed this process so that they can recover the money invested in the mortgage because this money can no longer be given by the mortgagor. How then can the institution earn from some properties that are deemed useless for the investors and buyers? This flaw made by the bank in reclaiming the money offered to the debtor as a loan will cause them to find another solution that will save them from bankruptcy.

Last February 18, 2009, the government proposed a new law and it was established immediately in the State of Connecticut. This new law gives right to the debtor to ask for a re-assessment of his/her initial contract, especially if he/she encounters hardships in handling the monthly rates.

The Loan Modification is a program that gives benefits to the bank, knowing that foreclosure is not a feasible alternative at the moment. Cooperation with the debtor is needed to prevail over the financial problem that threatens the institution. The law is against foreclosure that contributes to a more overcrowded real estate market and it encourages continuity of cooperation between the mortgagee and mortgagor. If you want to bypass the negotiations with your lender by yourself, try to seek legal help from a lawyer who specializes on these matters.

Finding an attorney’s office dealing with this thing in your area is easy; simply type the words ‘loan modification attorney’ on a search engine and include your town or your county in a navigator and you will see several options. You can choose and hire a lawyer who will suit your budget and he/she will guarantee that you will get the best deal from the negotiations with the bank. The process of loan modification depends on the effort of both parties and it can take 30 to 100 days. Aside from that, it also depends on your requests and the availability of the bank. There is no need for you to accept the first drop of rates proposed by the bank, you have to get the most expedient conditions for your reticent income.

The loan modification system dramatically improved the situation in Connecticut after its release. Nevertheless, the number of foreclosed homes is still large, and as a precaution, you should think twice before you apply for a new mortgage in these days.

Connecticut Mortgage Companies

H. Pearce Real Estate Co., Inc
203 453-2737
88 Broad Street
Guilford, CT

Shoreline Real Estate Company
203 453-5271
2257 Boston Post Road
Guilford, CT

Wells Fargo Home Mortgage
203-458-0140
125 Water Street
Guilford, CT

Envoy Mortgage
(860) 945-9000
774 Straits Turnpike
Watertown, CT

Page Taft GMAC Real Estate
203-453-6511
89 Whitfield Street
Guilford, CT

Prudential Connecticut Realty
203-453-5244
995 Boston Post Road
Guilford, CT

Lending Source LLC
860.283.2828
294 south main st
Thomaston, CT

WPI
860-656-7671
Silas Dean Hwy
Wethersfield, CT

William Pitt Sotheby’s International Realty
203-245-6700
670 Boston Post Road
Madison, CT

Scholastic Mortgage
203-453-5555
96 Broad Street
Guilford, CT

Connecticut Legal Services

Connecticut Legal Services

Assistance: Foreclosure and Consumer
Location: Bridgeport, New Britain, New London, Stamford, Waterbury, and Willimantic
Website: http://www.connlegalservices.org
Phone: Bridgeport 203-336-3851
New Britain 860-225-8678
New London 860-447-0323
Stamford 203-348-9216
Waterbury 203-756-8074
Willimantic 860-456-1761
Email: ghla@ghla.org
Services: Connecticut Legal Services (CLS) is a private, non-profit, civl law firm dedicated to helping low-income families and individuals obtain justice. The bulk of our work consists of providing civil law representation and counseling to thousands of low-income families and individuals each year. CLS serves all of Connecticut except the greater Hartford and New Haven areas.

Greater Hartford Legal Aid

Assistance: Consumer
Location: Hartford
Website: http://www.ghla.org
Phone: 860-541-5000
Email: ghla@ghla.org
Services: The Greater Hartford Legal Aid serves low-income residents in the Greater Hartford area and handles civil cases.

New Haven Legal Assistance Association

Assistance: Consumer
Location: New Haven
Website: http://www.nhlegal.org
Phone: 203-946-4811
Services: New Haven Legal Assistance Association provides legal services to individuals, families, and groups in the greater New Haven area, including the lower Naugatuck Valley, who are unable to obtain legal services because of limited income, age, disability, discrimination, and other barriers. The attorneys represent individuals in housing, predatory lending and other consumer cases.

Statewide Legal Services

Assistance: Foreclosure
Location: Statewide
Website: http://www.slsct.org
Phone: Central Connecticut and Middletown area 860-344-0380, all other regions 800-453-3320
Services: Statewide Legal Services is a legal aid telephone hotline program that assists low-income individuals with noncriminal legal matters, including foreclosure. Homeowners should contact Statewide Legal Services directly to determine if they meet the income limits to qualify for services

Avoid Mortgage Scams Connecticut

Attention homeowners: If you think you have been a victim of a scam, or approached by a scammer, report it to the Loan Modification Scam Prevention Network now! Your complaint could provide vital information that will help put loan modification scammers out of business.

Call 1-888-995-HOPE (With your permission, the complaint will automatically be shared with federal, state and local law enforcement).