The Foreclosure Time Bomb
Mortgage rate adjustments increase either the interest rate or the payment amount of a loan. Such increases are often substantial and can be the difference between a mortgage payment you can afford and one you can’t, often resulting in foreclosure. The government has stipulated that lenders need to modify these loans, but a lender may not do this. If this is your situation, the Law Offices of Leslie Richards will hold your lender accountable and fight get your mortgae reduced to the point where you can afford it again–and keep your home.
This is called a mortgage rate reduction–a financial plan to pay your mortgage with an a monthly mortgage amount you can afford. Payments are based on necessary living expenses weighed against gross income and are not determined by your lender. That makes your monthly payment within your reach and keeps you out of foreclosure. Our firm will then negotiate with the lender to make the new payment permanent.
It is tricky to get approval for programs like this. That is largely determined by creating a financial plan that everyone involved can agree to. It’s also essential to make sure your mortgage rate reduction program is actually affordable.
We’re Here to Assist You with a Mortgage Rate Reduction
Our firm is experienced in mortgage rate reductions and can put together a program for you according to your current income level. We will help establish a verifiable relationship between your expenses and your income that will prove you are able to continue making payments for the term of the loan. This is what your lender will want to see and we will guide you through any issues that arise.
What We Do Best
The attorneys at The Law Offices of Leslie Richards have focused almost exclusively on helping struggling homeowners avoid foreclosure. If you are interested in a mortgage rate reduction, you need a firm with experience. Owners who work directly with lenders have a very high rate of failure.
Do it right and keep your home! Our attorneys have the specific knowledge and track record to help you with a mortgage rate reduction. Take advantage of our free consultation by contacting us today.