Mortgage Modification Lawyer
A loan modification is a reduction of your payment by your lender. This new payment is supposed to be affordable for the homeowner. In exchange for this lower payment, your bank is now saved the cost and hassle of a foreclosure sale of your home.
The payment is reduced to 31 percent of the home owner’s income to loan ratio. This means that the program only beneficial to those home owners who have home loan payments that exceed 31 percent of their monthly income.
The goal of a home loan modification is to help home owners, who find themselves unable to meet current home loan payment obligations, to renegotiate interest rates, finance rates, deferred payments or to exit the obligation to avoid foreclosure.
Your bank has lawyers working for them and so should you. Consult a mortgage modification lawyer such as Thomas Weiss to handle your home loan modification application, you will be happy that you did!
We offer free in-office consultations. Learn more about how we can help you. Give us a call for a free no-obligation consultation.