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.
www.Bartley-Law.com Shawn D. Bartley, Esq. Attorney At Law 8730 Georgia Avenue, Suite 610 Silver Spring, Maryland 20910 Ph# (301)741-4123
About Me
- AttorneyBartley
- Shawn D. Bartley is the principal of Shawn D. Bartley and Associates, LLC. Mr. Bartley’s practice is client focused on legal matters that include business law, wills, estate probate, landlord tenant law, consumer law, creditor/ debtor law, foreclosure, bankruptcy, and traffic law. Mr. Bartley has successfully represented client’s interest in both state court and in federal court. Mr. Bartley works closely with clients to ensure understanding of the legal process and the law. Mr. Bartley seeks to find positive “win win” solutions for all parties. Mr. Bartley is a graduate of Valparaiso University School of Law located in Valparaiso, Indiana, and the University of Maryland, College Park. While in law school Mr. Bartley was active in numerous scholarly activities that included Moot Court, Mock Trial, Negotiation Team, and the Student Bar Association. Mr. Bartley attended the University of Maryland on scholarship. Mr. Bartley is a former fellow of the Maryland State Bar Association Leadership Academy. Currently Mr. Bartley is a board member on the Montgomery County Collaboration Council for Children Youth and Families. He is a member of the Maryland Bar Association.