Expert Cites Mission Critical Benefits of Attorney-Driven Loan Modifications

SAN DIEGO, CA, Mar 24 (MARKET WIRE) --
The recent report that more than half of loans modified in the first
quarter of 2008 "went bad again within six months" due to improper
engineering underscores the need for loan modifications to be executed by
practitioners with the right "type" of skills who rebuff a short-sighted,
one-size-fits-all approach.

"Mortgages are complex legal agreements and, essentially, binding
long-term contracts," notes money management expert Jeff Isaac of The
Lawyer in Blue Jeans Group (www.lawyerinbluejeans.com). "Attorneys not
only understand the legal intricacies, technicalities and seemingly
infinite regulations related to loan modifications, but also have the
specialized skill and expertise required to negotiate the best possible
terms for the client."

Here are Isaac's top 9 reasons why attorney-driven loan modifications are
a homeowner's best bet:

-- Lenders tend to be much more responsive and cooperative when a borrower
has legal representation

-- Attorneys operating in this space have a deep understanding of the
legal intricacies, technicalities and seemingly infinite regulations
related to loan modifications, as well as the homeowner's legal rights
related thereto

-- Attorneys have the specialized skill, expertise and experience required
to aggressively negotiate the best possible terms for the client

-- Attorneys-written loan modification requests often receive higher
priority routing, leading to expedited responses and at a higher level,
often directly with the bank's legal department or a senior-level asset
manager, thus circumventing lower level, slower moving junior loan
modification personnel who typically conduct the initial reviews

-- Loan modification attorneys have an in-depth understanding of consumer
protection laws such as the Truth in Lending Act (TILA) and the Real
Estate Settlement Procedures Act (RESPA). An attorney can also best
determine if a broker or lender violated any state or federal law when
originating a home mortgage, or if there was any activity that can be
deemed loan fraud or predatory lending practice. If so, an attorney can
best capitalize on the indiscretion -- and the threat of costly
litigation related thereto -- to negotiate a desirable outcome for the
homeowner

-- Home loans are contracts; loan modifications are a renegotiation of
restructuring of those contracts; Contracts are and should remain the
domain of attorneys who have a more in-depth understanding of these legal
instruments and can assure terms are in the homeowner's best interest

-- In most cases, there is no cost differential to hire an attorney or
real estate broker for loan modification services, so it behooves
consumers to secure the highest level of expertise possible to cover all
possible bases. With all else being equal, it makes far more sense to
have an attorney evaluate legal loan documentation for possible
violations and renegotiate terms than a real estate professional, however
seasoned

-- Many companies offering loan modifications claiming to be 'attorney
backed' or 'attorney based' are not law firms, but rather may merely have
an attorney available for consultation as -- and if -- it subjectively
deems necessary. In this instance, the company need not adhere to the same
Rules of Professional Conduct required of licensed attorneys, which can be
cause for concern

-- There is no attorney-client privilege for anything discussed with a
merely 'attorney backed' or 'attorney based' company, rendering any and
all information imparted 'discoverable' should a state agency be
considering a prosecution for alleged mortgage fraud, in which case the
services of a licensed attorney is critical

About Jeff Isaac and The Lawyer in Blue Jeans Group

Jeff Isaac, AKA "The Lawyer in Blue Jeans," is the CEO and principal
attorney at The Lawyer in Blue Jeans Group -- a firm dedicated to helping
shield consumers throughout Southern California against lawyers, legal
fees, courts, foreclosure, and the emotional and financial costs related
thereto -- with legal services offered at affordable prices. Firm services
include Loan Modifications/Mortgage Mitigation, the establishment of
Revocable Living Trusts, Articles of Incorporation, Probate Representation
and Estate Administration. In addition, Jeff Isaac is an invigorating
public speaker and media personality who imparts his unique style and
lighthearted perspective throughout San Diego's TV and radio airwaves. He
appears weekly on KUSI Channel 9 San Diego, offering insightful legal
explanations, interpretations and perspectives on legal issues that impact
viewers on a personal level as well as the region at large. Isaac is also
host of 760 KFMB AM's "The Lawyer in Blue Jeans" -- a weekly talk radio
program offering down-to-earth advice, humor and engaging commentary on
life's daily legal challenges with the "common man's" interest at heart.
More information may be accessed online at www.LawyerInBlueJeans.com or by
calling 1-800-8-IMPACT.

CONTACT:
Merilee Kern
Kern Communications
858-577-0206
Email Contact

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