What can I do if my lender refuses to negotiate a loan modification with me?

If your lender refuses to negotiate a loan modification with you in Virginia, you have several options. First, you can file a complaint with the Consumer Financial Protection Bureau (CFPB). The CFPB will investigate your complaint and help you negotiate a loan modification with your lender. Second, you can seek out foreclosure defense assistance from a nonprofit organization, such as a HUD-approved counseling agency. These agencies provide counseling on home ownership and have relationships with many lenders. The counselors can act as a liaison between you and your lender to work out a loan modification or other foreclosure defense option. Third, you can look into filing for Chapter 13 bankruptcy. This type of bankruptcy allows you to reorganize your debts and keep your home. During the three-to-five year period of the bankruptcy, you can negotiate a loan modification with your lender. Finally, you can consider hiring an attorney to fight your case. An attorney can represent you in court and negotiate a loan modification with your lender. Even if the foreclosure process has already started, an attorney can often help you retain your home by filing a motion with the court to stay the foreclosure proceedings. In conclusion, if your lender refuses to negotiate a loan modification with you in Virginia, you have several options. You can file a complaint with the CFPB, seek out foreclosure defense assistance from a nonprofit organization, look into filing for Chapter 13 bankruptcy, or consider hiring an attorney.

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What can I do if my lender refuses to negotiate a loan modification with me?

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