A mortgage loan modification is now more popular than ever, as lenders have become more willing to work out payment reductions for those overburdened by their monthly payments. Rather than see borrowers face foreclosure or abandon their homes, lenders are inclined to offer a mortgage loan modification.
Working with lenders on a mortgage loan modification can be complicated and time consuming. More importantly, if you are behind on your mortgage, each month that passes during the loan modification process may further damage your credit, add late and legal fees, and ultimately push you further along the path to foreclosure.
Our experienced Jacksonville bankruptcy attorneys can help you avoid foreclosure by attaining monthly payment reductions through mortgage loan modification.
The Making Home Affordable Program is an essential portion of the present federal government administration’s strategy to help distressed homeowners avoid foreclosure. Eligible homeowners can effectively lower their monthly payments and obtain secure loans at today’s low mortgage rates. The program can provide a means for those who cannot afford their present mortgage payments to keep their home out of foreclosure.