Understanding Loan Modification

Loan modification is a tool for foreclosure prevention which is underutilized. It is possible to renegotiate terms on an existing mortgage. It takes a thorough understanding of your legal and financial position as well as skill to negotiate with a lender. Lenders seldom make it easy for a property owner, especially if the property is worth more than the amount owed on it. You will need to know if you can afford to make the payments if your loan is modified. A skilled lawyer can review your loan agreement and other details with you, explain the process and the benefits of loan modification and other foreclosure prevention methods which could help you.

Creating Financial Alternatives

Having a second or third lender to negotiate new terms with can create a far more complex situation for many property owners. Negotiating lower interest, lower payments or revising the amount of the loan takes experience. Lenders such as Wells Fargo, Bank of America, Chase Bank and CITI Mortgage can appear difficult and even intimidating during negotiations. You need an attorney who is willing to fight for you. A loan modification lawyer at Price Law Group is tireless in working to obtain the best possible outcome and stop foreclosure on your property.

You may have a number of options in getting your mortgage back into good standing. We can help you to devise a strategy which may include a combination of legal tools. An experienced bankruptcy lawyer at our firm is ready to answer your questions and work closely with you to assist you to ensure your interests are protected. We have helped over 100,000 clients to regain control of their financial situation and are ready to use our expertise to help you with your loan modification.