Loan Modifications — a Way to Keep Your Mortgage
In order to argue for a loan modification, you must present substantial information to banks, showing them your ability to make the renegotiated monthly mortgage payments. We will help you gather the evidence that you need to try to convince your lender that you will make good on a new mortgage.
A loan negotiation typically involves convincing the bank to lower your interest rate or extend the term of your mortgage. Sometimes banks are willing to agree to these offers if they find it will prevent a foreclosure — which can be costly to them.
Some of the types of loan modifications available to homeowners include:
- Recapitalization Agreement — Where all your arrears, interests, fees and past payments are added to the principal of your mortgage, allowing you to become current on your mortgage
- Loan Modification — Allows you to extend the term of the loan or lower the interest rate, allowing you to make your monthly mortgage payments
To speak to an experienced lawyer about obtaining a loan refinance, contact us at Weisberg & Associates, P.A. for an initial consultation.
It is nearly impossible to obtain a permanent loan modification without going through the legal process with an experienced law firm. Without legal assistance, almost 95% of loan modifications get denied.
At the Weisberg & Associates, we specialize in default management / walk-aways / short sales / foreclosure defense. We can possibly help you:
- Lower your monthly mortgage payment
- Convert your adjustable rate to a fixed rate
- Reduce your interest rate
- Reduce principal balance
We are very different than other law firms or companies. We do not go to your lender with a hardship letter asking for help. Your lender is not your friend and they are here to make money, not give it away. If you have tried to deal with your lender about loan modifications, or sought federal assistance, you’ve probably sat on the phone for hours and gotten nowhere.