Your salary has been cut, your paychecks are smaller, and the amount you owe your lender is increasing. Sound familiar? What should you do? You can’t make your loan payments disappear, but you may be able to make them smaller. Let the Feldman Law Center help you.
Is it possible to get a loan modification if your salary was cut? Yes. If your salary has been cut, it is possible, but by no means guaranteed, that you can get a loan modification from your lender. Don’t worry. You don’t need to do this alone. The Feldman Law Center is here to help.
There are many reasons that your lender will agree to a loan modification. Financial hardship, job loss, and a decreased salary can all be sufficient grounds for your lender to modify your loan. However, the process is complex, and many people who try to handle it on their own face numerous challenges.
No one wants you to go into bankruptcy or foreclosure. Going into bankruptcy or foreclosure does not benefit your lender, and it does not benefit you. Sadly, many Americans are experiencing the traumatic effects of bankruptcy and foreclosure when they have many other options.
Getting a lender to change the conditions of your loan is not as easy as calling them and asking nicely. Just because you may qualify for a loan modification doesn’t mean that you will get one. Just because a loan modification would be the best solution for your financial future doesn’t mean that it will happen.
The process of modifying your loan can be very frustrating. Lenders are looking for very specific and detailed information. Sadly, many people don’t take advantage of the services that a professional, qualified, and knowledgeable loan modification attorney can provide.
A high percentage of requests for loan modifications that are submitted directly from the borrower to the lender are denied. Often, the paperwork is incomplete, or the specific concerns of the lender are not addressed. The Feldman Law Center knows what specific concerns each specific lender has, and what information they are looking for. We are ready and willing to work with you and your lender to help negotiate a loan modification that works for you.
Your lender wants you to make the full payment. And you didn’t want your salary to be cut. Your lender wants you to make some sort of payment. And you want to make payments. Let us help you negotiate the deal.
Every loan modification case and application is different. It may be possible to reduce the interest rate on your loan, extend the length of your loan, or get into a different kind of loan altogether. Regardless of the complexities, a loan modification might be the answer you are looking for to avoid foreclosure or bankruptcy, and the Feldman Law Center is here to help you.
You have questions about your specific situation. We have answers. This is what we do. Don’t worry and wonder if there is anything that can be done. Call the Feldman Law Center today.
Visit us at http://www.feldmanlawcenter.com or call 800-588-0425.
Legal Disclaimer
The information contained herein is provided for general information and advertising purposes only and is not intended to convey a legal option nor legal advice for any particular case or situation. Nothing in this article shall create an attorney-client relationship. Nothing sent to this law office via e-mail shall constitute an attorney-client relationship. Nothing contained in this article shall be construed to be a guarantee or prediction of result. Prior results are provided for general information purposes only and do not guaranty, warranty or predict a similar outcome with respect to any future matter. Results achieved depend on individual circumstances and not everyone will qualify or be successful in restructuring their mortgage loan.