Loan Modification in Maryland
The foreclosure crisis has taken its toll on Maryland homeowners. If you haven't yet lost your home to foreclosure, but are struggling to make your mortgage payments, then it's not too late. There are solutions available to help you retain ownership of your home. A Maryland mortgage modification attorney can help you explore the available options.
Understanding Maryland Loan Modification Options
A loan modification or mortgage modification allows you to change at least one of the terms and conditions of your original loan. With your lender's approval, you may be able to change:
- The length of the loan
- The loan's interest rate
- The amount of principal you owe
- The amount of your monthly payments
Additionally, you may be able to temporarily suspend your mortgage payments.
A Maryland mortgage modification lawyer can also assist you with a loan modification as well as other options to avoid foreclosure. These would include a deed in lieu of foreclosure, short sale, refinancing, bankruptcy and defending against foreclosure.
Avoiding Maryland Mortgage Modification Scams
The mortgage modification industry has attracted con men who prey on desperate homeowners who are looking for solutions to their real estate problems. Many of these fraudsters overpromise and under-deliver, stealing your money in the process and costing you precious time.
The Maryland HOPE Inititive cautions homeowners:
"Beware of situations that involve someone advertising, sending an e-mail, or coming to your door offering a 'way out' or 'rescuing you from foreclosure.' These 'rescue scams' are illegal. Example: A person will tell you, the only way to avoid foreclosure is to sign over the deed to your home. They will say that you can remain in the home as a renter, and buy it back later. In reality, they strip your home of its equity and stop making payments. You get evicted from the property and lose your home!"
If you or someone you know has been the victim of mortgage fraud, speak to a Maryland loan modification attorney immediately. A lawyer can help you try to repair the damage, recoup your money and reclaim your home.
Reasons to Hire a Maryland Loan Modification Lawyer
Legally you're not required to hire an attorney to handle your Maryland loan modification. But there are several reasons you should consider working with Maryland mortgage modification lawyers.
- Expertise: Your attorney will have spent years studying the law and staying abreast of new laws and changes to the law. In addition, your lawyer will have represented countless clients facing real estate problems just like yours. That experience translates into your advantage when negotiating with a lender or trying to decide which solution is best for you.
- Several legal options: Maryland mortgage modification attorneys will be familiar with all of your legal options—from mortgage modification to short sale, from a deed in lieu of foreclosure to bankruptcy—and can advise you of the pros and cons of each option.
- Even playing field: You can rest assured that your lender has an army of lawyers who are reading your mortgage, preparing foreclosure notices and writing mortgage modification contracts. Their lawyer's job is to protect the lender's interests—not yours. By hiring your own Maryland loan modification lawyers, you're leveling the playing field and helping to ensure that you get a fair deal.
Find & Hire Maryland Mortgage Modification Attorneys
If you're ready to tackle your real estate problem head on, then it's time to hire Maryland loan modification attorneys to represent you. And you've come to the right website. Whether you live in Baltimore, Bethesda, Hagerstown or elsewhere in the state, Attorneys.com can connect you with mortgage modification lawyers in your area.
To use our fast and free service, call us at 877-913-7222 or fill out the form on this page. We'll ask you a few easy questions, then quickly connect you with a loan modification attorney in your area.