Loan Modifications

Loan modifications are currently being offered by mortgage companies as an alternative to foreclosure. In order to help a mortgage company review your loan for modification, homeowners can assemble a package of information with the help of an attorney that outlines information including current income, monthly expenses, and an explanation of any recent changes in income or hardships you may have suffered.

These items are useful during the negotiation process with your lender. An attorney can prepare sample re-amortizations of your loan, adjust or fix the interest rate or ask for other concessions in the interest of designing a payback plan that is reasonable and affordable for your current income.

Contact The Law Offices of Scott R. Schneider today

For assistance with New York bankruptcy, foreclosure or debt resolution of any kind, contact The Law Offices of Scott R. Schneider today.