Loan Modification in Rhode Island
Are you stuck with high mortgage payments and don't qualify to refinance your loan? Fear not! Many Rhode Island homeowners have lowered their payments through a mortgage modification. An experienced loan modification lawyer can review your financial status and existing loan to help determine whether you're eligible to modify your mortgage.
Are You a Good Candidate for a Mortgage Modification?
There are several ways that a bank can modify a loan. It may:
- Lower the interest rate
- Forgive some of the principal
- Extend the length of the loan
- Forgive some of the late payment fees and penalties
The end result is lower monthly or bi-weekly payments for you.
You may be a good candidate for a loan modification if:
- You're ineligible to refinance your loan
- You're locked into a high interest rate
- Your home is underwater, or worth less than the balance of your loan
- Unemployment, medical debt or other circumstances have reduced your income and made it difficult for you to afford your loan payments
You're not legally required to hire a mortgage modification attorney to help modify your loan, but it's a smart move. A lawyer can also explain your other options—such as a short sale or bankruptcy—and help you understand the pros and cons of each choice. And using a licensed attorney reduces the risk that you'll become the victim of a loan modification scam.
Find & Hire a Local Rhode Island Mortgage Modification Attorney
If you're ready to put your real estate problems behind you, now is the time to hire a loan modification attorney. And you've come to the right website. Whether you live in Providence, Warwick or elsewhere in Rhode Island, Attorneys.com can connect you with mortgage modification lawyers in your area. Simply fill out the form on this page or call us at 877-913-7222. We'll quickly put you in touch with local loan modification lawyers.