Loan Modification in Wyoming
Wyoming has one of the lowest foreclosure rates in the country, but homeowners have still been hard-hit by the recession, high unemployment rates and falling real estate prices. However, there is hope. If you're locked into an expensive, unaffordable home loan, you may qualify for a mortgage modification. A loan modification lawyer can explain your legal options and guide you through the process.
Modifying a Mortgage in Wyoming
A mortgage modification allows the homeowner to alter the terms of their original home loan, resulting in lower bi-weekly or monthly loan payments. The lender may agree to:
- Lower the loan's interest rate, which helps homeowners who are ineligible to refinance their loans
- Forgive some of the loan principal if the home has fallen in value since it was purchased (known as being "underwater")
- Write off some of the late payment fees and penalties
- Extend the length of the loan
Is a loan modification right for you? Ask your mortgage modification attorney to explain the advantages and disadvantages to you. Your lawyer might also explain the pros and cons of personal bankruptcy, a short sale or a foreclosure if they are more appropriate for your specific situation.
Find & Hire Local Wyoming Loan Modification Attorneys
Don't try to get a loan modification on your own—too many innocent homeowners have lost their money and their homes to criminals and con artists running loan modification scams. Working with an experienced loan modification attorney will give you peace of mind.
Attorneys.com offers a free service that can connect you with mortgage modification lawyers in your area, whether you live in Cheyenne, Casper or elsewhere in Wyoming. Complete the form on this page to get started, or call us at 877-913-7222.