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Mortgage Modification and Foreclosure Defense
There is a common misconception that a lot of money must be spent in order to reduce the mortgage’s interest rate. The truth is that mortgage modifications may sometimes be granted to a homeowner if he or she pays dues to the lender in exchange for a reduced interest rate on the existing loan. Unfortunately, the majority of mortgages cannot be modified. Many lenders will not hold onto a loan for an extended period of time. If you have a securitized mortgage, you will not be able to change the interest rate. If permitted, a mortgage modification will make it easier for you to make your monthly payments and catch up on any payments you may have missed.
If you find yourself facing the challenge of meeting your payment deadlines, it becomes necessary for you to seek the legal guidance of an experienced attorney to help you avoid repossession and eviction. Our attorneys will be able to help you with the foreclosure defense or help you recover from a possible foreclosure. Please contact Jacoby & Meyers; we will be able to answer all of your questions and help guide you through this trying time.