Saving Your Home With A Mortgage Loan Modification
Under water?!? When your mortgage is more than the value of your home, you can feel like you are drowning. Contact Bankruptcy Lawyer David J. Smith about obtaining a mortgage loan modification. Mortgage modifications allow you to stay in your property while reducing your monthly payments to a livable rate. This fresh start that can also help bring your mortgage up-to-date if you have missed some payments.
You’ll Need To Prove Eligibility
Mortgage loan modifications create a permanent change in one or more of the terms of a Borrower’s loan, allows the loan to be reinstated, and results in a payment the Borrower can afford. To be eligible, you must demonstrate that any outstanding balance owed is because you suffered a setback that has since been resolved and you are now able to make payments at a lower level over a longer period of time. The seemingly mysterious nature of who qualifies for a mortgage loan modification is legendary among housing counselors. Through solid negotiation and proper planning, David J. Smith may also be able to lower your interest rate, fix adjustable rates, reduce your loan balance, erase debts caused by delinquent bills and get you lower payments over a longer period of time. You can also explore if a bankruptcy filing might be right for you.
Attorney Smith has an great understanding of Ohio Bankruptcy Law. He can prepare all necessary mortgage loan modification applications and represent you and your financial situation accurately. He will work with you and your lender to obtain a reasonable payment rate and can navigate you through the relationship between bankruptcy and past due mortgages.