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Alternatives To Bankruptcy

Bankruptcy Alternatives

North Charleston Mortgage Modification Law Firm

Bankruptcy Alternatives, Charleston Debt Relief Law FirmIf you are having financial difficulties and want alternatives to bankruptcy, contact a Mortgage Modification lawyer who can help you understand your options. You may be behind on payments and have creditors calling every day. You may be unsure of how to deal with the situation. But you don’t have to handle it alone. Call a skilled attorney at our North Charleston Mortgage Modification Law Firm Steadman Law Firm, P.A. to help you decide which path to mortgage modification is right for you.

Mortgage Modification

The availability of loan workout plans provides the opportunity for “at-risk” homeowners to rework the terms of their mortgages to a more manageable level. A Mortgage Modification attorney can help you with mortgage modification by negotiating with your loan servicer and protecting your rights throughout the process.

Banks and other mortgage servicers often engage in loss mitigation when a borrower falls behind on payments. Loss mitigation may take many forms, but the most common is mortgage modification. Through loss mitigation, the loan servicer is willing to renegotiate terms in order to prevent foreclosure and repossession of the home.

A mortgage modification is a process that will permanently change the terms of the promissory note. This often makes mortgage payments more affordable. This may take place by extending the loan, rolling past-due amounts into the principal, or lowering the interest rate. There are many strategies that can be used in a mortgage modification. In order to obtain the best situation for your mortgage, contact a mortgage modification lawyer.

You can do a mortgage modification on your own but experience tells us that most people have a very difficult time with it, and encounter problems with their lender.  In Chapter 13 there is a portal system in which the court can review the mortgage modification process.

Contact a North Charleston Mortgage Modification Lawyer for Help Today

 

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