Foreclosure Defense Through Loan Modification
If you are falling behind on your mortgage payments and are stuck in a home mortgage that you can no longer afford, a Wisconsin loan modification may be the best option to help you prevent foreclosure and save your home.
- Are you behind on your mortgage payments?
- Are you in a foreclosure?
- Do you owe more on your home or commercial property than it is currently worth?
- Would you be able to afford your monthly mortgage payment if it were lower?
If one or more of the above statements are true, then a Loan Modification obtained for you by The Fields Group Law Firm may be the solution.
What Is a Loan Modification?
A Loan Modification is an agreement between you and your lender or loan servicer that changes one or more of the terms of your promissory note and mortgage agreement in an attempt to make your mortgage payment as affordable as possible under the circumstances. Some of the changes to your note and mortgage agreement can include a lower interest rate, a change from an ARM to a fixed interest rate, extending the term of the mortgage, and in some cases, principal reduction. The Federal Government sponsors the well-known HAMP (Home Affordable Modification Program) and most lenders and servicers have their own “traditional” modification programs. Our law firm has obtained hundreds of modifications for our clients and knows what it takes to get the modification for which you are qualified.
Who Qualifies for a Loan Modification?
Any owner of mortgaged residential or commercial real estate is a potential candidate for a loan modification. The qualifications for a HAMP or traditional loan modification are different and each lender/servicer has their own standards. While the lending and servicers do not generally publish their modification guidelines, the attorneys and staff of our law Firm, relying on their knowledge and experience, can discuss your circumstances with you to determine if there is a modification program which might be a good fit.
Does It Take Long to Get a Loan Modification?
Depending on your lender/servicer and the type of modification being considered it can take anywhere from a few weeks to several months or more after application to receive the modification offer. This is why it is crucial to aggressively seek the modification if you are served with foreclosure legal papers.
How Do I Get Started?
The Fields Group LLC, Law Firm will provide you a free consultation with one of our loan modification representatives. We're always excited to discuss with you your circumstances and whether a loan modification is right for you. Call today (414) 763-3200.