Experienced Legal Help For Mortgage Loan Modification Applications
During the foreclosure crisis, the federal government created several programs to help homeowners stay in their homes. Many were simply left holding the bag when the market dropped off. Others faced unfair lending practices and fraud. Still more had borrowed responsibly but could not withstand plummeting home values.
Today, most lenders in Maryland have become more willing to work with homeowners to solve mortgage problems. At The Law Offices of Richard B. Rosenblatt, PC, we are committed to helping people obtain fair and reasonable mortgage modifications as an alternative to foreclosure.
Working To Protect Your Home From Foreclosure
In negotiations with your lender, we will seek changes to important terms in your existing mortgage. These may include the interest rate and monthly payment. Depending on the exact changes, you should end up with a lower interest rate and/or a lower monthly payment.
One common loan modification solution is to roll your past-due payments into the balance of your loan. This allows homeowners a recalculation of their payment at a lower interest rate. As a result, you are no longer in arrears and can pay off missed payments over the course of the loan. You may even end up with a lower payment over the entire course of repayment.
Our lawyers know how to effectively negotiate loan modifications. We negotiate directly with lenders and rely on available government programs and initiatives. Our legal team is highly skilled at helping our clients effectively express their need for a loan modification based on specific financial hardship and other circumstances.
We have also helped clients arrange forbearance agreements to catch up on missed mortgage payments. As your advocates, we will provide the informed guidance and dedicated representation you need to get your mortgage terms changed in your favor.
Why You Need An Attorney to Help With Loan Modifications
You may have already tried applying for a loan modification on your own. If so, you know it is a confusing process full of complex terminology and miles of red tape. In many unfortunate circumstances, some people offering to help with modification are trying to scam those who are the most vulnerable — the elderly and those who are facing threats of foreclosure.
We have the experience needed to determine whether you qualify for loan modification. We will also work to ensure that your application is received and considered. We know how to present that application in the way that puts you in the best position to get approval. We actively engage with the lender during the loan modification process and our experience in obtaining hundreds of loan modifications for our clients benefits you.
Additionally, we have an extensive understanding of the types of mortgage modification fraud that scammers commonly use. We will work to protect your interests and prevent you from becoming a victim.