Legal Question in Real Estate Law in Maryland

I am looking for an attorney to help me explore options of getting a mortgage modification (reduded interest and principal). I have re-financed primary mortgage through HAMP as I am underwater. I was told that I could not do a 2nd re-fi. Have 2 mortages that have been sold to other lenders. Presently, not at risk for foreclosure but will be in 5 yrs when I retire. Wonder if there is proper documentation of my loans with current lenders and if that could be used as leverage to re-fi.


Asked on 1/08/11, 7:43 am

1 Answer from Attorneys
Phillip M. Cook Cook Legal Services, LLC

If your current lender cannot produce the original Note, then that could certainly present an impediment to foreclosing the loan in the case of default, which in theory gives you leverage to re-fi. You may also want a real estate attorney to review your loan/closing documents to ensure that they comply with Maryland and certain Federal Laws (RESPA, etc.). If they don't, this = leverage.

Best of luck.******The above is for informational purposes only and does not create an attorney-client privilege.********

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Answered on 1/13/11, 12:27 pm


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