It is sometimes possible to prevent foreclosure on a home by working out a loan modification agreement. The loan modification will usually change the amount owed or the interest rate charged or the payment schedule.
Banks don't advertise their openness to modification of the terms of mortgages — they lose money every time they do it — but it is an option that keeps people in their homes, and allows lenders to get some of their money back.
Central Florida Mortgage Modification Attorney
The hard part is that the modification process is in rapid flux, changing almost every day. To succeed with loan modification, you need a real estate attorney who can handle shifting scenarios, one who stays up to date with these changes.
My name is Robert F. Hoogland and I have helped many people hold onto their homes by renegotiating the terms of their mortgages. It is not a simple business, and many of my clients would get lost without experienced assistance. I maintain constant vigilance to see that your rights are protected, and that all paperwork is in order.
Every lender is different and every loan is different.
Banks don't like to give away money. It is not uncommon for a lender to take the $20,000 you are behind by and tack it onto the end of the loan. As your representative, I will ensure that such actions are made clear at the time of the proposal and there are no secret costs buried in the modification.
In an uncertain market, there is no better guarantee of sound legal real estate counsel than a Florida Bar-certified expert. For your protection, call or e-mail Altamonte Springs loan modification attorney Robert F. Hoogland today.
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