Raleigh Mortgage Modification Attorneys
For most individuals, purchasing a home requires a buyer to obtain a mortgage loan through a financial institution. The lender pays for the home and the buyer makes regular mortgage payments, gradually repaying the newly acquired debt in exchange for an ever greater share of ownership of their home. Because mortgage repayment typically stretches over many years, mortgage holders are susceptible to life events or other occurrences which may interfere with their ability to continue to make the necessary payments on their mortgage.
When this happens, if nothing is done to address the situation, a home may be subject to foreclosure. However, with the help of a skilled attorney, a struggling homeowner may be able to seek a modification of their mortgage, making it easier for them to make the required payments. If you would like to learn more about this option, contact the Raleigh mortgage modification lawyers of the Bradford Law Offices, PLLC, by calling 919-758-8879 today.
How Mortgage Modification Works
There are many ways that a mortgage may be rearranged in order to help a person repay the loan over time. When restructuring a mortgage to adapt to a change in one’s own financial standing, it may be possible to achieve the following:
- Extend the duration of the repayment period
- Eliminate or reduce fees and penalties
- Lower the interest rate of the loan
- Reduce the principal amount or waive some of the accrued interest
Though it is easy to become overwhelmed when you are unable to make the required payments for your mortgage, do not be alarmed as the help of a committed and capable legal representative may be able to help you resolve the issue while keeping your home.
At the Bradford Law Offices, our team of Raleigh mortgage modification attorneys is prepared to help you and your loved ones through a financial challenge by working with you to renegotiate the terms of your mortgage. Call 919-758-8879 to discuss your legal options with a knowledgeable and compassionate attorney.