The Phoenix, Scottsdale, and other surrounding areas are full of people who owe much more than their houses are worth. Many homeowners in the Phoenix area are signing up for home loan modifications as a way to reduce the payments on their house or make up for previous payments that have not been made on their mortgage. Under the guise of working with you, the banks state that they will give you a “trial” loan modification. I am writing this article to warn you that there are dangers in this trial loan modification that you likely don’t realize when you sign up. In summary, even though you make your trial loan modification payments and jump through all of the hoops that the bank wants, you can still be denied a permanent home loan modification. Then, the banks will turn around and make a demand that you catch up on the difference between what you would have paid without the trial loan modification and what you actually paid during the trial period. Often times, my clients are sent a letter that states they have to come up with many thousands of dollars within a relatively short period of time or else their house will be foreclosed (also called a trustee sale in Arizona).

If the above happens to you and you want to save your house, call a bankruptcy attorney immediately. Depending on your situation and if you qualify for a Chapter 13 bankruptcy, you may not have to pay that amount off immediately in order to stay in your home.

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    Great lawyer, he really helped my mother out of a jam. She was totally new to bankruptcy and he talked with us for about an hour and a half to make sure she wouldn’t be worried.
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    Ben is a kind and down to earth attorney. He worked around my busy schedule as a single mom (school, full-time job, and daycare pick up and drop off times). He explained absolutely everything to me and was good about e-mailing. I am writing this review as a THANK YOU.
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    I had a very positive experience with Attorney Wright. He or his staff returned my e-mails and calls promptly (even after business hours occasionally). His fees were reasonable. He was patient with me when I showed up in court missing an important document. He is aggressive, but fair and nice.
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