Loan Modification

As a former bank attorney, Ms. Valdes worked with some of the country’s largest banks and loan servicers on numerous loan modifications. Ms. Valdes knows what the bank are looking for when submitting a loan modification application and knows how to negotiate with the banks to obtain a loan modification. If you are interested in applying for or obtaining a loan modification, contact Valdes Law Firm, P.A. online or by calling (954) 764-7878 to schedule your free consultation today. Hablamos español.

A loan modification is an adjustment to the original payment terms agreed upon by the lender and the borrower. There are items that can be adjusted to help lower your monthly mortgage payments: (1) interest rate; (2) principal owed; and (3) term of the loan. Usually, the bank is not willing to modify the outstanding principal, but is willing to modify the interest rate and/or the term of the loan. However, in some cases, the bank may negotiate the outstanding principal in order to make the loan modification work. There are several federal programs for loan modifications and each bank also has its own “in house” modification program.

If you want to keep your home, but your home is underwater and you can’t afford to make high mortgage payments, a loan modification may be a good solution. If you are already in foreclosure, a loan modification may be a way out. Banks strive to avoid foreclosure proceedings as much as homeowners do. The foreclosure process is not only lengthy, but creates additional costs that the bank does not want to incur. If you are considering a loan modification, contact Valdes Law Firm , P.A. online or by calling (954) 764-7878 to schedule your free consultation today.

Oftentimes, homeowners get frustrated with the bank and feel as though the bank is not communicating with them regarding their options for a loan modification. Valdes Law Firm, P.A. can help you complete all of the necessary documentation that the banks require for a loan modification as well as communicate with the bank on your behalf. Ms. Valdes will negotiate with the bank to try to obtain a loan modification that is affordable for you so that you can keep your home. The most common misconception is that a loan modification is easy to obtain and can be handled by simply applying with the lender. The reality is that most homeowners do not have the knowledge and resources needed to achieve success through the process. Hiring an experienced attorney, such as Valdes Law Firm, P.A., can often reduce the amount of time and risk for error by processing your paperwork efficiently, and presenting your application in the exact manner that each lender wants it.

If you have already been offered a loan modification and would like us to review it, please contact us online or by calling (954) 764-7878 to schedule a consultation. There is a lot of fine print in a modification agreement that needs to be carefully reviewed before your loan modification is completed. Ms. Valdes will carefully review the modification that you have been offered and explain all of the conditions and fine print to you. Hablamos español.