Mortgages can be Modified
Foreclosures typically cost mortgage companies a considerable amount of money. Consequently, and in order to save themselves the time of pursuing a foreclosure, mortgage companies may consider home loan negotiation, even if it means some financial loss to them.
At the Price Law Firm in Altamonte Springs and Orlando, Florida, we know how to make loan negotiations count. The founder of our firm, attorney Charles W. Price, used to work on the other side of these cases. On behalf of mortgage holders, he would negotiate with homeowners and their lawyers to achieve mortgage modifications and to stop foreclosures. This comparatively rare experience as a lawyer enables him to quickly grasp what mortgage holders routinely look for when engaging in these negotiations, and to obtain favorable mortgage modifications for our clients in many instances.
For a free consultation about loan negotiation, call 407-792-3473 or contact us toll-free at 866-381-9243. You may also contact us by e-mail.
How Much can Mortgage Payments be Reduced?
Certain lawyers and loan modification companies are on record as telling people that they can cut mortgage payments in half. This certainly sounds too good to be true in almost any case and, frankly, it is. There is no reason for a mortgage holder to logically agree to this type of mortgage modification.
In reality, the goal is to modify the loan so that payments are in the range of 31 to 38 percent of your gross monthly income. If payments are higher than this, we will negotiate to reduce interest rates or loan periods so that payments fall within this range.
A Successful Record of Dealing Constructively with Mortgage Holders
When a person simply calls a mortgage holder and asks for a modification, it is not uncommon for that person to experience extreme frustration owing to exhaustive delay or even a complete ignoring of his or her request. Candidly, that type of response does not occur for clients we represent. We know the law and have a dedicated staff that is constantly communicating with mortgage companies to achieve our clients' goals. With nearly 20 years of experience on our side, we know how to optimally proceed and best promote a client's interests in any loan modification matter.
Mortgage modification may be a viable option for you. For your free consultation, contact an experienced attorney at our Central Florida office. Call 407-792-3473 or contact us toll-free at 866-381-9243. You may also contact us by e-mail.
