Although paying your mortgage is one of your highest financial priorities, in today’s difficult economy, it may not always be feasible to stay completely caught up on your payments. Often, changing financial circumstances result in a mortgage payment that initially worked within a family’s budget, but no longer does. Job loss, unexpected medical bills, and unforeseen circumstances can all play a role in a borrower’s ability to pay according to the original terms of the loan.
If you are struggling to make your mortgage payments, you may be able to have your loan modified. This means that your mortgage lender will work with you to establish a different payment plan that works better for your current financial circumstances, but still allows you to meet the financial obligation you have to pay on your mortgage.
Beware of Loan Modification Scams
Many companies offer loan modification for a “small” up-front fee. After they are paid, they promise to contact your mortgage lender and negotiate with them on your behalf in order to reduce your mortgage payment. Unfortunately, in most cases, these companies are little more than a scam and do nothing to actually negotiate with your lender.
However, an experienced loan modification attorney can help you negotiate with your mortgage lender to establish a payment plan that is more conducive to your current financial situation and still allows you to stay up-to-date on your house payments. While some lenders are less willing to implement a modification program, a seasoned attorney can present your case in a way that illustrates how beneficial it is for the mortgage company to reduce your payments and allow you to continue to meet your loan obligations.
Contact Rodriguez Law, P.L. Today for More Information
At Rodriguez Law, P.L., we have the skills and resources necessary to work directly with your mortgage lender on your behalf in order to secure the modification of your home loan. We will negotiate aggressively with your lender so we can obtain a payment plan that works for your current financial situation, so you can remain in your home and stay on top of your monthly finances.
If you find yourself struggling every month to make your mortgage payment, or have little leftover for other bills and basic living necessities after paying your mortgage, don’t wait to contact a loan modification lawyer for help. Call now at (305) 262-8226.