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Although Jonathan Stein specialized in cases involving consumer debt, he became quite an expert when national foreclosure rate soared to record levels. Because of his expertise in the field of foreclosure, Stein was named by Business Week as one of the top foreclosure experts in the nation.
Working with Awo.com, Business Week made it possible for consumers to rate foreclosure attorneys based on number of judgments won, awards received and experience.
For Stein, the foreclosure crisis has been a result of two things: homeowners who were lead to believe that they were getting a good mortgage deal and homeowners who lack financial savvy to realize that they could not afford their mortgage payments.
During the course of his helping distressed homeowners work out their mortgage problems, he noticed that lenders have become more and more open to negotiations. Because of this, it has become easier for him to find a long term solution to his clients’ mortgage problems.
Most of the homeowners who seek Stein’s assistance are those in the position to work through their mortgage problems and only require some guidance. For him, it certainly made his job easier when homeowners are eager to solve their problems and avoid foreclosure.
Stein usually advice troubled homeowners to face their foreclosure worries head on. If the problem is addressed early, the likelihood that it will be resolved is great. As soon as you miss a mortgage payment, you must contact your lender immediately and discuss alternative payment options. He also recommends that homeowners be realistic about the solution.
If selling the distressed property is the best solution, Stein believes that this is better than walking away. Clients who opted for this solution received legal advice for him so that the short sale transaction will push through without any problems.
Receiving the recognition is certainly a rewarding experience for this attorney. For certain, Stein will even be more inspired and motivated to help troubled homeowners.