Is Mortgage Modification for You?
PA mortgage modification lawyers
If you're dealing with large quantities of debt and facing foreclosure, mortgage modification is an effective tool to stall or prevent foreclosure proceedings. When enacting mortgage modification as a foreclosure defense, Harold Shepley & Associates works directly with you and your creditors to negotiate lower interest rates, longer payment terms, and reduced loan principals.
Part of the qualification for modification is that you are actually able to pay a modified mortgage, and that the residence is your primary home. If you don't make enough money to meet even a modified payment, the lender will reject your offer - and even worse, if you set yourself up with yet another unattainable payment plan your home can still be foreclosed upon.
Mortgage foreclosure defense is a complex process, and one that requires an adept attorney like those at Harold Shepley & Associates. There are ways to avoid foreclosure, and we are here to help guide you through them. Call us today at 877-827-9006 or contact us online any time for a free consultation and start your journey to debt freedom today.
Mortgage modification vs refinancing
Refinancing, while it can be a good way to get a better rate on your mortgage, can be difficult to have approved if you are already behind on your mortgage. You are also less likely to qualify for refinance if you have existing credit issues.
Most of our clients are in a position requiring modification over refinancing. A few other things to consider are:
- Refinance is permanent; modification can be temporary.
- Lenders will almost always charge fees for a refinance while a modification is frequently free.
- A refinance is only valid if you are current on your mortgage; late fees and more can be bundled into your modification package if you choose to go that route.
Your PA foreclosure defense experts
When considering refinance, foreclosure defense, or modification, the most important thing to have in line is legal representation.
Harold Shepley & Associates works with people in your situation every day to help save their homes and possessions. Call us today at 877-827-9006 or contact us online any time to find out what we can do for you.