LMLC, Inc. | Loan Modification and Short Sale Experts | California

LMLC -Fighting for homeowners since 2002

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Great News – NO INCOME TAX for California Short Sales

The California Association just announced that it received final confirmation from the Board of Equalization that California homeowners who lose their house in a short sale are NOT subject to state income tax liability on the debt forgiveness. This is fantastic news for anyone who has already gone through the process or anyone thinking of letting their upside-down mortgage go but are concerned with the tax liability that might follow.

Anyone who has actually sat down with an attorney and discussed the consequences understands the implications of this exciting news. I have talked to hundreds of people and analyzed their unique situations and for some the IRS and state tax issues they faced felt like rubbing salt into a large wound. Sorry for the analogy but it’s really that bad.

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New Government Program | Interest Rate Reduction.

Interest Reduction Program

Avoid Foreclosure – Get Help Today!

If you are a homeowner and have missed any payments on your home or are concerned that you might miss payments on your loan then you want to know your options and act promptly before your lender sells your home out from under you. Unfortunately, one in every 200 homes in California is being put up for sale in a foreclosure or trustee sale.  Here at the Loan Modification Legal Center we help distressed and frustrated homeowners save their homes from such sales caused by missed mortgage loan payments.  We have the real estate and legal expertise to aggressively negotiate a modification with your lenders for your loan. This helps you keep your primary residence and save your credit from dropping into a hole for the next 10 years which a foreclosure could cause you.  There is still time to modify the terms of your current mortgage loan even if a notice of foreclosure or trustee sale has been issued by your lender.  We can help you:

  • Reduce Your Monthly Mortgage Payment(s)
  • Lower the Interest Rate
  • Switch your Adjustable Rate to a Fixed Rate
  • Extend the Repayment Term (potentially up to 40 years)
  • Decrease the Principal (Balance Due)

Loan Modification - Getting Started...

Frustrated with Your Mortgage Lender – Let us Help!

Many homeowners are at their wits' end trying to get approved for a loan modification and need an experienced legal group who knows how to work with mortgage lenders to get things done. We empathize with many homeowners who have tried to apply for a loan modification on their own in the past. Many have sent the same documentation in to your mortgage lender over and over only to be put through headache after headache as you wait indefinitely. It is not surprising to us that only about 20% of homeowners applying for a loan modification in our country are actually being accepted and put into an affordable and permanent loan modification.

The White House and US Treasury anticipated between 3-4 million homeowners would have benefitted by the Home Affordable Modification Program (HAMP) as of 2012 but in actuality HAMP has only helped just over 1 million homeowners since being introduced in March 2009. Lenders took billions of taxpayer dollars in the form of bailouts.  In general mortgage loan servicers have been slow to comply with Federal regulations and we are the advocate many homeowners need to achieve a refinance.

Loan Modification - Getting Started...

We Understand Your Time Is Precious

We realize many of you have taken time away from your family, work, and weekend play time to be patient with your lender(s) over the phone as they transfer you endlessly from one department to another.  Isn’t it time to stop wasting your time and allow LMLC to go to work for you?

Loan Modification - Getting Started...

Last Updated ( Wednesday, 26 February 2014 00:13 )  
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