Spokane Valley Mortgage Modification Attorney
When you are unable to make you mortgage payments, the stress can be overwhelming. It may feel like you have no chance of ever catching up to past due payments and foreclosure is a serious threat. In the worst-case scenario you may lose your home altogether. The good news is the Washington law firm of Brent Sorenson & Associates, P.C., can help you explore loan modification plans or other options that may help you hold onto your home.
If you are behind on your mortgage payments or are in foreclosure, contact a Spokane loan modification lawyer or call us at 509-590-4627 for a free initial consultation.
Modifying the Terms of Your Mortgage
Loan modification involves negotiation with your lender to see if they are willing to modify the terms of your mortgage so you end up with a more affordable monthly payment. If you are currently unable to make your mortgage payment, or have a change in your budget that will make it difficult for you to make your payments in the future, loan modification may be an option for you. An experienced mortgage lawyer can take a look at your situation and provide you with guidance on what your next steps should be.
An Attorney Who Understands Federal Programs
If you are seeking a loan modification, it is important to speak with an attorney who is knowledgeable about federal government programs that may help struggling homeowners. For example, the Home Affordable Modification Program (HAMP) is designed to assist homeowners who are struggling with their mortgage payments or are already behind on their payments. Even if you have filed for bankruptcy, you will automatically be considered for a HAMP modification if you choose to submit an application.
If your lender does not agree to a loan modification, or if it does not appear to be the right option for your situation, filing for bankruptcy may still allow you to keep your home. Chapter 13 bankruptcy will provide you with an affordable payment plan to give you the opportunity to catch up on your payments. Chapter 7 bankruptcy may be a viable alternative as well. An experienced bankruptcy lawyer can review your situation and help determine your options.
Call for a Free Initial Consultation With a Tri-Cities Loss Mitigation Attorney
If you find yourself in danger of falling behind on your house payments or are already in foreclosure, contact a Tri-Cities loss mitigation attorney or call us at 509-590-4627 for a free initial consultation.
