A loan modification may be an option worth considering if you are facing foreclosure. Stephen K. Hachey, a St. Petersburg loan modification lawyer, helps many clients facing foreclosures from losing their homes by negotiating loan modifications.A loan modification changes the terms of your loan in order to bring about payments that you can afford. Most lenders will modify an existing loan in order to help you when faced with a documented financial hardship. The most important goal is to make the loan affordable for the long term. Until recently, loan modifications were only given to borrowers who were behind on payments when they were faced with a hardship. Now, borrowers may be able to get a loan modification even if they are not behind on payments, but still face a financial hardship. As a permanent change in one or more of the terms of a your loan as a borrower, a loan modification can allow your loan to be reinstated, resulting in a payment you can actually afford by reducing your interest rate, extending your loan terms and/or reducing your principle. It’s important to know, however, that loan modifications are often a complex and lengthy process requiring the knowledge and negotiation of an experienced St. Petersburg loan modification attorney. At the Law Offices of Stephen K. Hachey, we know what it takes to get you out of debt and avoid the foreclosure process, helping you achieve the best outcome for your specific budget and situation. We work with you one-on-one, helping you stay in your home, move one with your life and get you back on good terms with lenders. As an expert St. Petersburg loan modification attorney with years of experience, we’ll work with you to achieve the best outcome, providing the quality representation needed to make your loan modification an unparalleled success. Know your options and take advantage of the best available solution.
How Do You Know if a Loan Modification is Your Best Option?Your lender will make a calculated decision based on your hardship letter, current financial situation and employment status to determine if they should approve you for a loan modification. It is highly recommended to consult with an experienced St. Petersburg loan modification lawyer like Stephen K. Hachey to determine your options and offer you the best available solution.
Do You Have to be Behind on Mortgage Payments to Qualify for a Loan Modification?No, this is a common myth and is false. Many mortgage lenders are receiving incentives to accept loan modifications while the homeowners are still current.
Why Should I Hire an Attorney Instead of Attempting to Do it Myself?Of course you can do it yourself, but ask yourself honestly how important is it to you to keep your home. Many people have tried to complete a successful loan modification themselves with no help or advice, but remember the lender has their best interest in mind and not yours. People always hire experts to handle anything as important as the home they live in. So a better question might be, can you afford to NOT hire a loan modification attorney? Tampa Office: 15619 Premiere Drive Ste 104A Tampa, FL 33624