Mortgage Forbearance Programs

Thousands of families are facing foreclosure because of the economy. Many people were victims of adjustable rate mortgages and high interest rates on their homes and are now suffering the effects of increasing monthly home payments. The Obama administration has recently begun requiring some money lenders to extend forbearance payment lengths to unemployed homeowners in hopes that those homeowners can get back on their feet. Forbearance programs simply extend the time that unemployed homeowners have to make payments on their homes.

The Maryland mortgage modification attorneys of Chaifetz & Coyle, P.C., understand that facing foreclosure can be difficult and overwhelming for families. We negotiate mortgages every day for homeowners, and may be able to help you better understand your refinancing options if you are considering entering a forbearance program. Contact us today at 443-546-4608 to discuss your personal financial situation.

Benefits of Refinancing

Sometimes homeowners just need a little extra time to come up with the money to make their monthly house payments. Forbearance programs and other refinancing options can provide this aid. Some of the benefits of refinancing your mortgage include:

• Extending payment period
• Reducing monthly payments
• Providing time to adjust to new income

Forbearance programs are just one option for homeowners looking to refinance, and they can be a great option for people facing financial struggles.

Contact Us

If you are facing foreclosure and are interested in renegotiating your mortgage, contact the experienced Maryland mortgage modification attorneys of Chaifetz & Coyle, P.C., today at 443-546-4608 to discuss your refinancing options.