A Mortgage Modification could save your home, but only if it's done properly
Falling behind in your mortgage does not necessarily mean that foreclosure is your only option, or that you will have to file bankruptcy. There are a number of legal options that have helped many people to keep their homes when mortgage payments were not up to date.
One option is a Mortgage Modification: Even if you have tried to refinance your home without success, there may be an option available for you to obtain a modification of your loan if you act quickly once you know you're getting behind in payments. A licensed professional can help determine whether you qualify under the Obama administration's plan to preserve home ownership through loan modifications. Eligible persons file free of charge, so be careful to choose one of the government recommended agencies.
Those who are not eligible for the free program may still get a great mortgage modification with the help of a licensed professional. Only one mortgage modification is permitted, so make sure that the person who negotiates it with your lender is a a knowledgeable and licensed professional. Check with the Better Business Bureau, and state licensing agencies before paying anyone to do this for you.
If you believe you have been the victim of a mortgage modification scam, please report it so that others can benefit from the information. You can report it to the state banking department or the Better Business Bureau.
This is not intended to be legal advice. New Yorkers may contact me for a free consultation about their legal options. The main office number is 718-690-9503. www.DwyerLawNYC.com
Dwyer & Associates is a debt relief and distressed property law firm. We help people file for Bankruptcy under the Bankruptcy Code.
One option is a Mortgage Modification: Even if you have tried to refinance your home without success, there may be an option available for you to obtain a modification of your loan if you act quickly once you know you're getting behind in payments. A licensed professional can help determine whether you qualify under the Obama administration's plan to preserve home ownership through loan modifications. Eligible persons file free of charge, so be careful to choose one of the government recommended agencies.
Those who are not eligible for the free program may still get a great mortgage modification with the help of a licensed professional. Only one mortgage modification is permitted, so make sure that the person who negotiates it with your lender is a a knowledgeable and licensed professional. Check with the Better Business Bureau, and state licensing agencies before paying anyone to do this for you.
If you believe you have been the victim of a mortgage modification scam, please report it so that others can benefit from the information. You can report it to the state banking department or the Better Business Bureau.
This is not intended to be legal advice. New Yorkers may contact me for a free consultation about their legal options. The main office number is 718-690-9503. www.DwyerLawNYC.com
Dwyer & Associates is a debt relief and distressed property law firm. We help people file for Bankruptcy under the Bankruptcy Code.
