Home Foreclosure in America today is at an all-time high and is affecting many homeowners that never believed they could lose their home to foreclosure. Homeowners are feeling the crunch of higher interest rates and a slowing economy. A Loan Modification may be the only way for a homeowner to save the biggest investment of their life, their home. Negotiating with the bank for a modification of your home loan can be an overwhelming process for many homeowners.
Our experienced Loan Modification professionals represent homeowners with all major lenders, and we often negotiate one or more of the following possible resolutions:
- Interest rate reduction
- Term extension
- Coversion of Adjustible to Fixed Rate
- Principal Reduction
- Deed in lieu of foreclosure
- Short sale
Please be aware there are many companies advertising that they can stop your Foreclosure. Most of these companies are not licensed Real Estate Attorneys and do not contest your foreclosure case in the legal system. Therefore, these companies will lack the proper amount of leverage to re-negotiate your mortgage. Lenders are always more willing to re-negotiate the terms of a mortgage when the foreclosure is being properly contested in the legal system by a licensed Attorney. If you hire anyone other than a law firm, please make sure that person is licensed to practice law, has experience in the area of foreclosure law and the fee quoted includes the defense of your case in the Foreclosure Action. Remember: Your bank will continue its collection process, including foreclosure, while negotiating a possible loan modification. Do not hire anyone who has not agreed to represent you and cannot represent you in a possible foreclosure action in order to modify the terms of your mortgage.
