In the most basic sense, a loan modification changes the terms of your loan. You may wish to pursue a loan modification if your home is in foreclosure and you want to take action to keep your property. A loan modification can be used to negotiate the length of repayment, interest rate, and other terms.
If you wish to pursue loan modification in order to stop foreclosure on your home, contact Grewal Law PLLC. The process can be incredibly complicated; it is wise to have an experienced attorney on your side who can guide you through the process and represent your best interests from start to finish. With more than 100 years of combined experienced, our Michigan loan modification lawyers are prepared to assist you.
Call our office at (888) 211-5798 or submit an online contact form to request a free consultation today.
Types of Loan Modifications
Depending on your particular situation, there may be several different loan modification options available to you. These options vary from private plans to state and federal programs.
Some of the different types of loan modification options include:
- The Home Affordable Modification Program (HAMP)
- HUD Housing Counseling Agency programs
- Various state and federal programs
- Private loan modification plans
- Loan modification through bankruptcy (Chapter 13 or Chapter 7)
Each of these options offer various benefits. For instance, HAMP allows you to undergo a three-month trial period to determine if this loan modification program suits your needs. Filing for bankruptcy, on the other hand, can allow you to modify the terms of your mortgage loan and eliminate other debts. Our firm can help you find a credible solution that meets your specific goals.
How Grewal Law PLLC Can Help with Your Loan Modification
Our experienced loan modification lawyers in Michigan can help you explore your various options. We are also capable of assisting you with all of the necessary paperwork and agreement negotiations. It is important that you reach out to us as soon as possible, as the longer you wait to begin the loan modification process, the more likely it is that you may lose your home to foreclosure. Remember, your mortgage company is not required to modify your loan. It is important that you seek the assistance of a skilled real estate attorney who can help you navigate the process.
Get in touch with us at (888) 211-5798 to learn more. We proudly serve clients throughout the state of Michigan.