If you have fallen behind in your mortgage payments, but hope to save your home from foreclosure, a mortgage loan modification may be the answer. But, be careful. There are a number of scam artists who seem to hover just waiting for homeowners to default on their loan. The scammers rush in and offer help, but it is often help they are not legally authorized or capable of giving.
This is a complicated area of the law governed by both state and federal statutes. Our mortgage modification attorneys at Walsh, Becker & Rice keep current on the changing law and will give you an honest evaluation of your circumstances. After asking you some qualifying questions, we may be able to help. There are different loan modification programs for which you may qualify. Also, lenders are often willing to modify at least one of the following terms of your loan:
- The interest rate
- The length of the loan
- Your monthly payment
- The remaining principal
We know how to put a modification package together and show the lender that you are capable of meeting the new loan terms. We are experienced negotiators and will get you the best possible modification terms. Contact us at Walsh, Becker & Rice. We have offices in Anne Arundel and Prince George’s County, Maryland. We also serve those in surrounding counties, such as Charles, Montgomery, and Baltimore.