Loan Modifications

Forbearance title on legal document

We have been inundated with homeowners contacting us regarding their expiring forbearance plan.  Many loan mortgage servicers are requiring homeowners to pay back all of the missed payments during the forbearance period all in one shot, or face the consequences, which include foreclosure. Don’t think it cannot happen to you. …

forbearance words on the wood

We have had many homeowners in forbearance plans that have contacted our office about what their next steps are.  There is not a one-size-fits-all response to these questions.  First, for those who got their forbearance plans in writing, the document will most likely dictate what steps you need to take…

mortgage loan modification

When people are facing foreclosure, they do not always realize that they have options. One of these is a loan modification through the lender. A loan modification can change the principal of the loan, the interest rate, and other terms to make the loan more affordable. However, a lender must…

mortgage loan modification

When homeowners are struggling to make mortgage payments and fear foreclosure, a loan modification is often the answer. A loan modification will restructure the terms of the existing loan, such as the interest rate, length of the loan, and even the monthly payment amount. By modifying a loan, the payments…

beach

How a client ultimately ended up in foreclosure is often times a sticking point for many of them. In some instances, it’s because a series of unfortunate events occurred – a death in the family, unexpected medical expenses, or loss of income. Other times, it’s because the Bank’s incompetence that…

beach

Our client, T. E. took out a note and mortgage with World Savings Bank, FSB on January 30, 2007. The note had a 7.0% adjustable interest rate, which would adjust every 2 weeks, based upon the “GDW” Index. The note and mortgage were industry standard documents, however, the mortgage made…

paying money

Once an application for a mortgage loan modification is accepted, a lender usually requires a borrower to make a series of trial modification payments to demonstrate the ability to once again pay the mortgage. Once this trial period is successfully completed, typically a homeowner is more likely to receive a…