Are you considering loan modification or mortgage modification?
Banks consider several factors when determining whether or not to modify your loan. The factors include but are not limited to:
a. Is the home owner/ mortgagor in an ARM (Adjustable Rate Mortgage) interest only period or in the principle and interest period?
b. Is the home owner / mortgagor current on their home loan payments?
c. What is the ability of the home owner /mortgagor to pay the new monthly adjusted mortgage payment?
d. Does the home owner / mortgagor have a good payment history and credit rating?
e. What are the chances of the home owner /mortgagor will continue to make mortgage payments on time?
f. What is the banks current default rate on their own loan portfolio? (The bank won't let us know this.)
g. Is the home owner / mortgagor employed?
Just a few factors for you to consider if you are seeking a mortgage modification or loan modification. Need help making the decision? Call me http://www.bartley-law.com/ Phone # 301.741.4124.
Loan Modification - Attorney Assisted
Attempting to modify your loan?
You should consult and work with an attorney when you are attempting to modify your loan. Why?
1. The documents that represent your loan are legal documents whereby you and the bank entered into several agreements or better yet Contracts! Who better to renogotiate a contract for you than an attorney?
2. Banks have lawyers working for them! Any large bank or corporate institution has consulted with an attorney or a team of lawyers to make certain that the contracts and business processes that they are engaged in are in compliance with federal law and state law. Sometimes the banks get out of compliance and they know it. How can an average citizen know if the bank is in compliance or not? A lawyer can help you!
3. Leverage. Let's face it... everyone's ears perk up when they hear an attorney is on the other end of the line... No one wants to miss out on an opportunity to resolve a problem before it escalates to a law suit.... Did the bank follow the law? Did the bank honor the contract? If we (the bank) are not in compliance how can we solve the situation? The bank will want to talk to the attorney and work it out on behalf of the client and modify the loan if possible.
Just some thoughts on why you should let Shawn Bartley and Associates, LLC (www.Bartley-Law.com) help you if you are seeking to modify the mortgage for your home. Stop worrying about foreclosure if you get behind in your payments..... Call me at (301)741-4124.
You should consult and work with an attorney when you are attempting to modify your loan. Why?
1. The documents that represent your loan are legal documents whereby you and the bank entered into several agreements or better yet Contracts! Who better to renogotiate a contract for you than an attorney?
2. Banks have lawyers working for them! Any large bank or corporate institution has consulted with an attorney or a team of lawyers to make certain that the contracts and business processes that they are engaged in are in compliance with federal law and state law. Sometimes the banks get out of compliance and they know it. How can an average citizen know if the bank is in compliance or not? A lawyer can help you!
3. Leverage. Let's face it... everyone's ears perk up when they hear an attorney is on the other end of the line... No one wants to miss out on an opportunity to resolve a problem before it escalates to a law suit.... Did the bank follow the law? Did the bank honor the contract? If we (the bank) are not in compliance how can we solve the situation? The bank will want to talk to the attorney and work it out on behalf of the client and modify the loan if possible.
Just some thoughts on why you should let Shawn Bartley and Associates, LLC (www.Bartley-Law.com) help you if you are seeking to modify the mortgage for your home. Stop worrying about foreclosure if you get behind in your payments..... Call me at (301)741-4124.
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