Loan Modifications and Mortgage Loan Adjustments

Will a Loan Modification Work for Me?

Lending gimmicks like adjustable rate mortgages, a massive draw-down of home equity through refinancing and lines of credit, and ultimately — the collapse of the U.S. housing bubble itself — have all combined to leave many American homeowners "under water" on their home mortgages.

They owe more than their house is worth, and many homeowners are simply choosing to mail in their keys and walk away.

At the Law Offices of Robert Lee Hamilton, we help people deal with situations like this almost every day. We do this by educating our clients about their rights, the available options and the likelihood that they'll be able to secure a mortgage loan modification. Our clients are then able to make informed legal decisions and we are able to aggressively pursue those goals.

Now Is a Good Time to Explore These Options

Right now, legislation is pending that would allow bankruptcy court judges to "cram-down" oversized home mortgages into right-sized debts that actually reflect current home values. If passed, this legislation would give bankruptcy courts the authority to make loan modifications in the form of interest rate reductions as well.

This would be great news for many homeowners currently in trouble.

Because of this pending legislation, lenders have more incentive to work with homeowners on finding workable solutions that will keep people in their homes and the homes themselves from becoming toxic assets. At the same time, those same lenders will have even more incentive to negotiate a loan modification if they know you are represented by an attorney and that you are seriously considering bankruptcy as an option.
 

Local: (530) 945-2540

Talk about your debt relief options with an experienced lawyer. Call the Law Offices of Robert Lee Hamilton in Redding, California, at the phone number listed above. You can also contact us by e-mail and someone from our office will get in touch with you shortly.

Serving Redding, Chico and other Shasta County Area Communities