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When to Seek a Loan Modification in Foreclosure Defense - Davie, FL Attorney
While your foreclosure is ongoing - and you are not making a mortgage payment - we'll keep you in your home for significantly less than your mortgage payment.
Loans can be modified in many ways. The interest rate may be lowered in order to reduce your monthly payments. Also, the duration of the loan may be extended to reduce monthly payments. Sometimes, the principal amount of the loan itself may be reduced.
At the law firm of Michael Jay Wrubel, we know how beneficial a loan modification can be. It can help you get your monthly payments rearranged in a manner that makes more sense for you. It can allow you to get caught up so you don't have to worry about the threat of foreclosure. That is, if the bank or other financial institution is willing to do it. All too often, they are not willing. They often have no incentive to modify the loan.
Give Them a Reason to Change Your Loan
Lenders are happy to listen to requests for loan modifications. They are happy to go back and forth with you. They are happy to play phone tag. The one thing that they are rarely happy to do is actually make a change to your loan. After all, why would they? They won't benefit from it.
You need leverage. You need to give them a reason to modify your loan. At our law firm, we know how to do just that. It involves a method that is often surprising. It involves letting them start the foreclosure process.
Foreclosure Defense Provides Opportunity for Loan Modifications
The foreclosure process gives our law firm the opportunity to find the flaws in promissory notes and the assignments of mortgages. It allows us the opportunity to take action on behalf of the defaulting borrower. Our skills give our clients leverage, which can be used not only to slow down the foreclosure process, but to ask for a loan modification that makes sense for the homeowner.
We will put together a foreclosure defense strategy that involves positioning loan modification to the lender in a way that makes it clear that it is their best option for restarting regular payments. After all, getting something is better than getting nothing, even to these powerful institutions.
Contact Us for a Free Consultation
Available for consultation in Davie, Hollywood and Ft. Lauderdale, Florida, we are able to provide foreclosure defense to people throughout Broward County and South Florida. Contact us today to find out how an experienced attorney from our law firm can stand up for you.
