Loan Modification May Be An Option

In addition to bankruptcy, people who are having difficulty making mortgage payments have house keyother options to avoid foreclosure. Loan modification allows some borrowers to modify the terms of their home loans — in many cases with lower payments — so they can get current on payments. Lenders may be willing to work with borrowers to save money in the long run by helping people keep their homes.

Don't Be Taken In by Loan Modification Scams

Unfortunately, many dishonest companies in Pennsylvania and the United States attempt to lure vulnerable homeowners with promises of loan modifications, even though those companies are often unable to follow through on those promises. At Joshua Z. Goldblum, Attorney at Law, I provide honest advice and realistic solutions to people who wish to avoid mortgage foreclosure. I will always inform you of your best options, even if they do not involve hiring me as your lawyer.

Call me for a free initial consultation to discuss your debt relief options at 215-322-2745.

Many companies advertising loan modifications are not made up of lawyers. They are made up of former real estate agents and mortgage loan brokers who are attempting to get business during a down time in the housing market. Do not be fooled by those who want to take advantage of your situation.

Advantages Of Loan Modifications

For people facing foreclosure, attempting to modify an existing home mortgage has many advantages. The primary advantage is the ability to keep a home while lowering payments, making it easier to remain current on the loan in the future.

In a loan modification, the lender will change the terms of the loan by adding the amount that the borrower is behind to the principal amount of the mortgage and extending the length of the mortgage at a lower interest rate. This will bring down the value of the monthly mortgage payment and make it easier to afford. This solution, however, will not work for every homeowner and lending companies will not agree to a loan modification in every circumstance.

I will first look at your circumstances to determine if a loan modification is in your best interest or if another option is right for you. If we agree to proceed, I will negotiate a plan with your lender that can help save your home and complete all the necessary paperwork to facilitate that modification in a timely and cost-effective manner.

Learn More In A Free Consultation

If you would like to learn more about loan modifications and what they can do for your case, contact my office in Feasterville to schedule a free initial consultation. I work with people throughout Bucks County and northeast Philadelphia. Talk to a law firm about an alternative to bankruptcy and foreclosure to improve your financial future. Call me to make an appointment at 215-322-2745.

My firm is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.