Loan Modification in Tennessee
Worried about losing your home to foreclosure? Other options may exist. In particular, you'll want to speak to a Tennessee loan modification attorney and your lender about whether you qualify for a mortgage modification.
Tennessee Mortgage Modification Basics
When a bank modifies a loan, it's agreeing to make changes to the original loan agreement or terms of the loan. A lender may modify:
- The interest rate
- The total amount that is owed
- The payment schedule
The end goal: A lower, more affordable monthly mortgage payment.
You may be a good candidate for a loan modification if your mortgage has an unusually high interest rate but you don't qualify for a refinancing, your monthly income has declined since you took out your home loan or you've had some unusual expenses—such as medical bills—and are struggling to make your loan payments.
Reasons to Hire a Tennessee Loan Modification Lawyer
You're not required to hire a Tennessee mortgage modification attorney, but you should strongly consider it.
Your lawyer can will do some legwork before you apply for a loan modification so the process runs smoothly. And Tennessee mortgage modification lawyers can explain all of your legal options, including a short sale, deed in lieu of foreclosure and consumer bankruptcy.
Don't forget that when you modify a loan, you're entering into a new, binding legal agreement with your lender. And it always pays to have an attorney review any contract before you sign it.
Finally, loan modification scams and foreclosure avoidance frauds have become commonplace. When you work with licensed Tennessee loan modification attorneys, you're working with professionals who are bound by certain rules and ethical requirements. You'll have the peace of mind of knowing that you won't become a fraud victim.
Find & Hire a Tennessee Mortgage Modification Attorney
If you're ready to solve your housing problems, you've come to the right website. Attorneys.com offers a free service that can connect you with Tennessee loan modification lawyers in your area.
Complete the form on this page or call us at 877-913-7222. We'll ask you a few basic questions, then match you with a local Tennessee mortgage modification lawyer. Our service is fast, it's free and you're under no obligation to hire the attorney—it's risk free, so get started today!