Mortgage Law, Fraud & Loan Modification
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Loan Modification in South Dakota
If you're a South Dakota homeowner whose property has fallen in value or your income has dropped since obtaining a loan or you're locked into a high interest rate, you may qualify for a mortgage modification. Talk to a loan modification attorney to learn more.
The Basics of Loan Modifications
When a lender agrees to a mortgage modification, it is changing the terms of the original loan agreement in an effort to lower the borrower's monthly or biweekly loan payments. A lender may agree to:
- Lower your loan's interest rate if you're locked into a high rate and can't refinance your loan
- Write off some of the penalties, fines and fees that have been added to your account
- Forgive some of the loan's principal if your home's value has fallen and you're "under water"
Loan modifications allow South Dakota homeowners to remain in their home, avoiding foreclosure, short sales and personal bankruptcy.
Mortgage modification attorneys can review the terms of your existing loan agreement and financial situation, explain all of your legal options and help you apply to have your loan modified.
Find & Hire a Local South Dakota Mortgage Modification Attorney
If you're ready to modify your mortgage, your next step is to hire a loan modification lawyer. And Attorneys.com can help you. Our free service can quickly connect you with mortgage modification attorneys in your area, whether you live in Sioux Falls, Rapid City or elsewhere in South Dakota. Simply fill out the form on this page or call us at 877-913-7222 to get started.