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There are times when mortgage payments are behind schedule due to financial circumstances or you might be going through a stressful financial situation that may affect your mortgage payments. You might be qualified for a mortgage modification.
What is Mortgage Modification?
A Mortgage Modification also referred to as loan modification, mortgage loan modification or home loan modification is the process of modifying your existing loan to make your payments
more affordable. The purpose of a loan modification is to provide you
with a mortgage payment you can afford. It's similar to mortgage refinance but instead of looking for a new loan, this just modifies your current loan to fit your budget. At Anderson & Ferrin Attorneys at Law, P.A. we will assist you in successfully modifying your current mortgage for better terms.
Advantages of Mortgage ModificationMortgage modification will help you especially in times of financial distress. Some benefits of mortgage modification include:
- Prevent foreclosure
- Reduce your interest rate
- Reduce your monthly payments.
- Request extension on past due payments
- Reduce your principle.
- Eliminate adjustable rates / negotiate for a fixed rate.
- Re-amortize loan to include past due payments
- Waive negatively accrued interest
Why Use A Loan Modification Attorney?
Lenders may simply deny your loan modification request if you submit it directly without legal representation. At Anderson & Ferrin Attorneys at Law, P.A. we will carefully analyze & review your case to ensure that the proper techniques are used to request your loan modification.
Why choose us?
- We prepare necessary documentation for loan modification approval by your lender.
- We will negotiate the terms on your behalf leveraging current laws that protect you.
- Follow up the process to ensure quick approval.
- We will help prevent foreclosure during the modification request period.
How to get started
The first step is to contact us for a free case review. Call us Today! 407-412-7041
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