Media Loan Modification Attorney
Assisting with your loan modification in Media and Delaware County, PA
Loan modification is a way for homeowners facing financial challenges to stay in their homes and avoid foreclosure or bankruptcy. If you have fallen behind on your mortgage payments, Scott F. Waterman, Esq. can help negotiate with your bank or lender. This can:
- Give you a chance to catch up on your payments
- Help you restructure your mortgage
- Allow you to have any past-due amounts forgiven
Negotiating with banks can be difficult, but Scott F. Waterman, Esq. safeguards you through the process. Our firm also counsels you on exactly which Pennsylvania laws apply to your situation and what federal incentives there are for your lender to help you out.
Types of loan modifications
If you are facing foreclosure, we can determine what type of loan modification can best help to save your home. The types of loan modifications include:
- Interest rate modification, which occurs when your lender agrees to lower the interest rate on your home loan. Interest rate modifications can be temporary or permanent. Some banks are limited in their ability to offer homeowners interest rate reductions. We can negotiate with the lender to help you get the lowest rate for the longest period of time.
- Term modification, which extends the repayment period for your home loan. This type of loan modification is almost always offered permanently and can be used in addition to an interest rate reduction to maximize monthly savings for a homeowner.
Experienced loan modification attorney helping you in Media, Pennsylvania
If you need help negotiating and applying for a loan modification, call Scott F. Waterman, Esq. at 610-566-6177 or contact us online to set up a free 10-minute phone consultation.