Loan Modification in New York
Have you been approached by someone who's promised to lower your mortgage payment? Has a "foreclosure rescue" company guaranteed to keep you from losing your house? Don't be fooled. Mortgage modification and foreclosure avoidance scams are commonplace. A New York loan modification attorney can help you modify your mortgage and keep you from becoming a fraud victim.
New York Mortgage Modification Basics
The lousy economy, high unemployment and falling real estate prices have put millions of homeowners at risk of losing their homes to foreclosure. But there are some other legal options that may allow you to remain in your home.
One of the most common is a mortgage modification, which allows you to alter the contract with your home loan provider and reduce your monthly mortgage payment. When you modify your mortgage, you're lowering either the interest rate or the total balance that's owed, or you're extending the life of the loan.
Avoiding New York Mortgage Modification Scams
Unfortunately, scam artists are commonplace in the mortgage modification business. These criminals make false promises and guarantees, giving homeowners false hope and often robbing them of their hard-earned money.
Beware of individuals and companies that approach you and offer to help you modify your home loan. According to the U.S. Department of Housing & Urban Development, other warning signs include guaranteed loan modifications, as well as requests that ask you to sign over title to your property, redirect your mortgage payments or stop making payments altogether.
How a New York Loan Modification Lawyer Can Help You
There are several ways in which a New York loan modification lawyer can help you. Your attorney can:
- Review your financial situation and explain your options, including mortgage modification, a short sale, refinancing and consumer bankruptcy
- Work with your lender to help you secure a loan modification
- Review any contracts the mortgage company asks you to sign
- Take legal action on your behalf if you've been the victim of a mortgage scam artist
Find & Hire a New York Mortgage Modification Attorney
If you're ready to tackle your home loan problem and need help finding a New York mortgage modification lawyer, then you've come to the right website. Attorneys.com offers a free, no-obligation service that can quickly connect you to a loan modification lawyer in your area. Complete the form on this page or call us at 877-913-7222 to get started. We'll ask you a few simple questions then quickly match you with a local New York mortgage modification attorney.