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Photo of attorneys Shelley Slafkes and Bruce Levitt
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Why Do a Loan Modification?

On Behalf of | Apr 15, 2013 | Loan Modifications

If you are struggling to pay your mortgage loan, a modification may be the answer to your troubles. A mortgage modification may lower your monthly payment to an amount you can afford, allowing you to stay in your home. Benefits of a loan modification may include:

  • Saving your home from foreclosure
  • Lowering your monthly mortgage payments
  • Lowering your mortgage interest rate
  • Fixing your adjustable rate mortgage
  • Reducing your loan balance
  • Waiving negatively accrued interest
  • Granting payment extensions
  • Re-amortizing your loan to include past due payments
  • Eliminating late fees
  • Making mortgage payments affordable

If you are considering a mortgage modification, it is essential to obtain the help of a qualified and knowledgeable attorney. Obtaining the bank’s approval to modify your loan is a complicated and time-consuming process. You need the experience of a lawyer to put you in the best possible position to successfully modify your loan. Additionally, you want an attorney to assist with handling the documentation of your loan modification. The news has been full of stories about lenders whose paperwork has been less than stellar. Thus, the smart borrower should protect himself by hiring a lawyer to protect his interests. If you would like to make your home more affordable, now is the time to schedule a free initial consultation with a New Jersey loan modification lawyer at Levitt & Slafkes, P.C. Contact our attorneys online by filling out the form or by calling 973-323-2953 to schedule a free initial consultation.