When a Warrendale resident agrees to the terms of a mortgage contract he effectively states that he will make his payments toward that mortgage in full and on time. Many lending documents like those that cover mortgages include terms regarding what actions the lenders may take if the mortgage payers fail to follow the agreements’ provisions. In many situations a mortgage lender may initiate foreclosure proceedings if a payer falls behind or otherwise stops paying toward his financial obligation.
It is possible, though, for some mortgage payers to modify the terms of their agreements so that may either change or reduce their mortgage payments. Through a mortgage loan modification, a person may be able to keep current on his payments, protect his home, and abide by the terms of his contract. When pursuing loan modifications, many individuals choose to utilize the help of legal professionals.
Whether you have an upside down mortgage, you are underwater in your home, or you have experienced a change in circumstances that prevents you from staying ahead of your mortgage payments, the Thompson Law Group is here to help. We work with individuals who need to modify their mortgages and seek to secure loan modifications that protect our clients from foreclosure and other financial distress.
Though the outcome of a mortgage loan modification request cannot be guaranteed and not every mortgage payer will be able to achieve a modification, the Thompson Law Group has worked with Pennsylvanians who have been able to successfully stay in their homes. To learn more about how to modify your mortgage and loan modifications in general, interested readers are invited to visit our firm’s webpage on the loan modification process.