Renegotiate Your Mortgage
Las Vegas Bankruptcy Attorney Vegas BK
find out how we can help!
Renegotiate Your Mortgage
If you are struggling to stay current on your home loan, renegotiating your mortgage may be a good option. An experienced loan modification attorney in Las Vegas can help you understand your options to lower your mortgage rate and enjoy lower monthly payments to save your home.
Loan Modification Options
Most home mortgages have a term of 15 to 30 years. Of course, circumstances can change a great deal over this time and your mortgage may no longer fit well with your financial situation as it once did. An attorney can help you bring your mortgage current and make your loan more affordable through home loan modification that:
- Reduces your interest rate
- Reduces your principal balance
- Extends the term of the loan
While you can certainly represent yourself in the loan modification process, keep in mind your lender has their own team of lawyers who complete loan modifications every day. An experienced lawyer will represent your interests, not your lenders, to help you lower your mortgage payment, waive fees, re-amortize past-due loan payments, reduce your balance, and/or get a lower interest rate.
Halt the Foreclosure Process
If you are behind on payments and facing foreclosure, a loan modification attorney can help you stop the foreclosure process. Depending on your financial situation, it may be in your best interest to file bankruptcy to immediately halt the foreclosure or your attorney can file an order to show cause to stop an imminent foreclosure. This can give you the time you need to catch up on payments and renegotiate your loan.
Contact a Loan Modification and Foreclosure Attorney in Las Vegas
If you choose to hire an attorney to help you negotiate a loan modification, you will not pay upfront fees for the service. You also have the right to contact your lender directly or work with a government program. An attorney can help you protect your rights throughout the loan modification process and help ensure you are getting the best possible deal to save your home. Your attorney will also discuss alternatives such as bankruptcy, which may be a better option if you are facing other significant debts than your mortgage or your home is worth a great deal less than you owe. Chapter 13 bankruptcy may be a solution to help you cure your default and even strip junior loans from your home while keeping the house.
Contact Las Vegas BK today for a free consultation with a foreclosure and loan modification lawyer in Las Vegas to discuss your case.