Maryland Mortgage Modification Attorney
If your mortgage payments are just too high, a mortgage loan modification could save your finances and your home.
A mortgage modification is an arrangement between you and your lender that changes the terms of your loan, making it more affordable for you. If you have fallen behind on your mortgage payments and are facing foreclosure on your home, Chaifetz & Coyle, P.C. can help you negotiate a modification with your bank.
Contact our Maryland mortgage modification attorneys at 443-546-4608 to start protecting your home today.
Am I Eligible for Mortgage Modification?
If you have taken out a mortgage loan and are:
- Behind on your monthly payments
- Unable to meet your new payments for an upcoming rate change or escrow adjustment
- Suffering a documentable financial hardship
- Willing and able to make lower, more reasonable payments
Contact Chaifetz & Coyle, P.C. for more information on seeking a mortgage modification.
Benefits of Mortgage Modification
Why should you consider a mortgage modification? Although the negotiating process can be complicated, a successful resolution can help you:
- Avoid foreclosure. Foreclosure is an expensive process for banks, and they typically lose money on every foreclosed property. At Chaifetz & Coyle, P.C., our Maryland mortgage modification lawyers can help you convince the bank that changing the mortgage terms in your favor is simply better than foreclosure.
- Lower your monthly payments. If you simply cannot afford your mortgage payments, loan modification may be a good option for you. With the assistance of an experienced attorney, you can negotiate an interest rate or payment plan that lowers your monthly payments to a manageable amount.
- Protect your credit rating. Having a foreclosure on your credit report can seriously hurt your chances of getting a loan or buying a home in the future. By working out a solution with your lender, you can stay current on your mortgage payments and keep your credit record foreclosure-free.
- Keep your home equity. Because mortgage modification allows you to continue making affordable mortgage payments, you can continue to build up equity in your home for future use.
If you are facing foreclosure threats from the bank, Chaifetz & Coyle, P.C. is here to help. Call a Maryland mortgage modification lawyer today at 443-546-4608 to learn how loan modification can help you stop foreclosure and keep your home.