Mortgage Law, Fraud & Loan Modification
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Loan Modification in Minnesota
Are you worried about losing your home to foreclosure? Or is your home worth less than the value of your loan? If so, a Minnesota loan modification attorney may be able to help you qualify for a mortgage modification. But beware before trying to do it yourself: Fraudsters are preying on homeowners, making big promises and delivering no results.
What Is Minnesota Loan Modification?
When you modify your mortgage, the lender agrees to change at least one of the elements of your original loan. The bank may:
- Lower your interest rate
- Extend the length of the loan
- Reduce the amount of principal you owe
- Lower your total monthly payments
- Change your payment schedule
If successful, a Minnesota mortgage modification can help prevent foreclosure. But qualifying can be tricky and risky. If you make a mistake, you could accidentally lose your home. That's why it pays to hire a Minnesota loan modification lawyer.
Avoiding Loan Modification Scams
Con artists have jumped into the loan modification and foreclosure rescue business. These criminals make false promises and try to rip you off. If you're lucky, you may only lose some money. Less fortunate homeowners have even lost their homes.
The Federal Trade Commission warns:
"Many companies say they can get a change to your loan that will reduce your monthly mortgage payment or take other steps to save your home. Some claim that nearly all their customers get successful results and even offer a money-back guarantee. Others say they're affiliated with the government or your lender and still others promise the help of attorneys or real estate experts. Unfortunately, many companies use half-truths and even outright lies to sell their services....In fact, many of these companies leave their homeowner customers in worse financial shape."
You can avoid becoming a victim by working with a Minnesota mortgage modification attorney.
Questions to Ask When Hiring a Minnesota Mortgage Modification Attorney
Before hiring a Minnesota mortgage modification lawyer, take some time to interview the lawyer and make sure he or she is a good fit for your circumstances. Some questions to ask include:
- How long have you been representing loan modification clients?
- What other types of law do you practice?
- What are my legal options?
- What specific work will you do to help get my mortgage modified?
- How much do you estimate that I will pay in legal fees?
Find & Hire a Minnesota Loan Modification Lawyer
If you're struggling to make your mortgage payments or have a home mortgage that's under water, then you must try to modify your loan if you want to remain in your home. And Minnesota mortgage modification attorneys can help—but you must act quickly.
Attorneys.com offers a free service that can quickly connect you with Minnesota loan modification lawyers in your area. Call us at 877-913-7222 or fill out the form on this page to get started. We'll ask you a few easy questions, then match you with an attorney in your area.