Loan Modification in Oregon
In recent years, Oregon has been hard hit by foreclosures and the drop in real estate prices. If you're a homeowner and are struggling to make your mortgage payments—or own a home that's underwater and are having trouble justifying your payments—you may be a good candidate for a loan modification. An Oregon mortgage modification attorney can review your financial situation and help guide you through the process.
Things to Know About Mortgage Modifications
When a lender modifes a loan, it's changing some part of the original loan agreement with the goal of reducing your monthly or bi-weekly mortgage payments. A lender can:
- Lower your mortgage's interest rate
- Forgive some of the principal you owe if your home has fallen in value and is now worth less than the balance of your loan (known as being underwater)
- Forgive some of the late fees and penalties you owe
- Extend the length of your loan
By modifying your mortgage, you may be able to avoid foreclosure, a short sale or personal bankruptcy.
If you're thinking about getting a loan modification, it pays to work with a loan modification attorney who's licensed to practice in Oregon. That's because mortgage and foreclosure fraud is becoming increasingly common in Oregon.
Find & Hire a Local Oregon Loan Modification Lawyer
If you're ready to solving your mortgage problems, now is the day to talk to a mortgage modification lawyer. And whether you live in Portland, Salem, Eugene or elsewhere in Oregon, Attorneys.com can help you connect with a lawyer in your area. To use our free service, fill out the form on this page or call us at 877-913-7222. We'll quickly connect you with local mortgage modification attorneys.