Mortgage Law, Fraud & Loan Modification
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Loan Modification in Indiana
Has the recent housing slump caused your home's value to plummet? Are you having trouble making your mortgage payments? Do you worry that you might lose your home to foreclosure? If so, you may be a candidate for a loan modification. And an Indiana mortgage modification attorney can help you get your home loan modified.
Understanding Mortgage Modification
Loan modification or mortgage modificiation is the term used to describe changing some aspect of your home loan, usually with the goal of lowering your monthly payments. A mortgage modification may change:
- The loan's principal balance, or total amount you owe
- The loan's interest rate
- The length of the loan
- The total monthly payment
A mortgage modification can also temporarily suspend monthly mortgage payments.
Who is a good candidate for a loan modification? Many homeowners, including those who:
- Have financial difficulties and have trouble making their monthly loan payments
- Are locked into a high interest rate and can't qualify for a traditional refinancing
- Own a home that is under water, or worth less than the balance of the mortgage
- Are facing foreclosure
An Indiana loan modification attorney can review your mortgage documents, home's appraised value and financial situation, then tell if you'd qualify for a mortgage modification and guide you through the process.
Reasons to Hire an Indiana Mortgage Modification Lawyer
There are a few reasons to consider hiring an Indiana loan modification lawyer. First and foremost, an attorney will be familiar with all of your loan modification options and help you select the option that works best for you. Your lawyer will also have past experience representing clients who have modified their loans, and you'll benefit from having an expert guide. Your Indiana mortgage modification attorney's experience helps ensure the process goes smoothly, without any mistakes or snags along the way.
Mortgage modification scams are commonplace, and using a licensed Indiana loan modification lawyer should give you peace of mind. According to the Loan Modification Scam Alert, common signs of loan modification scams include:
- Asking for an upfront fee to modify your mortgage
- Guaranteeing that your mortgage can be modified or your home can be saved from foreclosure
- Asking you to make your mortgage payments directly to your loan modification advisor instead of to the lender
- Suggesting you sign your home's deed over to the loan modification advisor
If you or someone you know has become the victim of a loan modification scam, Indiana mortgage modification attorneys may be able to help you reverse the damage and recoup some of your money.
Find & Hire an Indiana Loan Modification Attorney
If you're interested in hiring Indiana loan modification lawyers, you've come to the right website. Whether you live in Indianapolis, South Bend, Evansville or elsewhere in Indiana, Attorneys.com can quickly connect you to a loan modification lawyer in your area. To get started, call us at 877-913-7222 or complete the form on this page. We'll ask you a few simple questions, then quickly put you in contact with a local lawyer. Our service is fast, it's free and you're under no obligation.