There is an easy way to avoid foreclosure: modify the mortgage. The bank prefers the loan be kept active to ensure it receives continued payments, and the homeowner gets some relief from a debt that has become too much.
In loan modification, we renegotiate the terms of the mortgage in order to make the payments more affordable.
A mortgage modification can include:
* A reduction or change in the interest rate
* A reduction in the principal
* A reduction or elimination of late fees and penalties for non-payment
* A reduction in monthly payment
* Forbearance, to temporarily stop making payments, or extend the time for making payments
We have been providing expert foreclosure solutions to clients across all 50 states for more than 30 years.