Seasoned New York Loan Modification Attorneys Ready to Assist You
If you are struggling to make your mortgage payments, you’re not alone. Today’s difficult economy has affected hundreds of thousands of New Yorkers, leaving them with less money than they need to live their lives. If you are in danger of going into default on your mortgage, or have already gone into default, a loan modification may be right for you.
What Is a Loan Modification?
A loan modification, simply put, is an agreement between a borrower and the bank to change the terms of the mortgage to make it more affordable for the homeowner and increase the chance that the mortgage will not go into default. Most often, a loan modification is used to decrease the monthly payment that the borrower pays to a figure that is more affordable. However, other adjustments can help as well, such as decreasing the interest rate or changing the payment due date.
Would I benefit from a Loan Modification?
If the following applies to you than you may benefit from a home loan modification
- You are behind on your mortgage payments
- You owe more money to your bank than the value of your home
- You have been served with foreclosure paperwork
- You have an interest rate that is above the current market rates but can’t refinance due to poor credit or recent late payments
When trying to deal with your mortgage problems, it is best to discuss your issues with an experienced New York loan modification attorney who can give you the legal advice you need and protect you and your family through the loan modification process.
Contact the IM Law Group Today For Assistance
If you are having difficulty meeting your mortgage obligations, don’t wait to get help.
At the IM Law Group, we can assist you in petitioning your lender for a loan modification, and our expertise and resources have been proven successful time and time again. Our goal is to help you through the process and secure your financial future Call us today to schedule a free consultation at (516) 344-8010.