Loan Modifications Help Arizona Homeowners
About Loan Modifications
Recognizing the difficulties that homeowners are having with making timely monthly mortgage payments, many lenders and federal government agencies have made programs available to avoid foreclosure. The Price Law Group has the necessary experience and resources to help homeowners retain their homes while negotiating with mortgage lenders. An attorney can work with the homeowner and lender to restructure a mortgage loan with terms that are agreeable to the mortgage lender and the borrower. For individuals who wish to keep their homes but are having trouble keeping up with monthly payments should contact an Arizona bankruptcy attorney for legal advice and representation regarding loan modifications. The dedicated team of attorneys from the Price Law Group assists clients with financial difficulties to avoid foreclosure and retain homeownership.
Loan Modifications and Available Options
There are many scenarios leading up to a homeowner having financial problems that make it difficult to keep current with monthly mortgage payments. Some homeowners borrowed beyond their means then caught in a depressed housing market and with high monthly mortgage payments. Others have had unforeseen situations of lost jobs or expensive medical bills making it nearly impossible to meet financial obligations. The majority of people who have mortgage loans want to keep their homes and to make that possible the banks and federal government have made available several options that benefit lenders and borrowers. Foreclosure defense could be another option.
It is important to have legal representation when attempting to modify a loan to ensure information is correct and the protection of the rights of a homeowner during lender negotiations. Some available alternatives for loan modifications can include the following:
- Rate reduction programs
- Recapitalization programs
- Principal reduction programs
Many mortgage lenders would prefer to work with an attorney with knowledge of the different aspects of foreclosure and loan modifications. The process can proceed quickly and produce the best possible outcome for all parties. Some programs have specific qualifications requiring the skill of a loan modifications attorney. Make an appointment today the Price Law Group to learn about loan modifications.
Contact an Arizona Loan Modifications Lawyer
for legal advice concerning loan modifications.
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