The Chance to Modify Your Mortgage Loan
Many times, a loan modification is in the best interests of both the homeowner and the lender. A family will be given a second chance to stay in their home and the lender will receive regular mortgage payments without having to resort to a costly foreclosure action and subsequent sheriff's sale. At 511-LAW.com, our job is to find that all-important middle ground and look out for your best interests.
Help is on the way by dialing "511." Contact us at 511-LAW.com (511-5292).
The Need for an Attorney to Explore Options to Modify Your Mortgage
While anyone can negotiate a loan modification, a Florida attorney is your best option when the negotiations are taking place while a property is in foreclosure. At 511-LAW.com, we will make every attempt to negotiate a loan modification with your bank. We will explore a variety of options on your behalf, including those that involve reducing your monthly payment and interest rate, changing from an adjustable rate mortgage (ARM) to a fixed rate, extending the maturity date on your loan, or reducing the principle balance.
Finding a Middle Ground Where Both Sides Benefit
While seemingly hard to believe, a mortgage company has a great deal to lose if your house goes into foreclosure. The money they will spend to take this legal action and the money they often lose in the subsequent sale, motivates them to come to the table willing to explore all options.
In the end, a successful loan modification results in both sides benefiting. You are allowed to stay in your home and your lender continues to receive payments.
Contact Us
For more information or to schedule an appointment with an experienced lawyer regarding a mortgage modification, please contact our Fort Lauderdale based firm today.
