Loan Modification
Should I Consider A Loan Modification?
You should consider Loan Modification if you fall into any of the following categories:
- Have an adjustable rate mortgage
- Have an interest only mortgage that is about to convert into amortizing
- Have lost your job
- Have had a medical emergency which has increased your monthly expenses
- Have an “upside down” mortgage (your debt amount exceeds the fair market value of your property)
- Are facing any other hardship such as: death in the family, divorce, military service, etc.
- Are having trouble paying your mortgage
- Are behind on your mortgage payments
- If you are in the foreclosure process
Why Use An Attorney?
I think one of the worst experiences for anyone is losing their home. As a real estate agent, I helped people reach their goal of owning a home. As an attorney, I have helped many more clients work their way through the home ownership process. My first exposure to the current problem came when a past client showed up at my office and wanted to give me the keys to his home. He didn't understand what was happening to him, the foreclosure process, and didn't know where to turn. Since then, we have made an effort to help all of our past clients needing legal assistance. Going forward, we are opening up this service to all homeowner's in North Carolina. It is my promise that we will make every effort to help you stay in your home.
An experienced attorney is in the best position to get you the best results. North Carolina law states that only an attorney can modify or negotiate debt on your behalf. You can negotiate the modification by yourself, however, keep in mind that you only get one chance at modifying your loan.
You want to ensure that you get the best terms possible. Our attorneys have experience dealing with big banks and other lenders. We have the experience to get you the best terms in the shortest amount of time. It is our job to keep you in your home.
Additionally, the lender will have its legal counsel prepare documentation expressing the new terms of the loan. You should have an attorney review these documents to ensure the terms and conditions are what you think they are.
Any company offering such services that is not licensed to practice law in North Carolina can’t legally operate as a debt negotiator in this state. Please help keep the legal practice of Loan Modification honest. If you know of a company offering debt modification services in NC that is not a licensed attorney, please Contact the Attorney General of North Carolina.
