When you are having difficulty paying your mortgage payments on time, sometimes applying for a mortgage or home loan modification and help you avoid foreclosure. Losing your job, getting divorced, and other situations can lead to problems paying your bills, which often results in losing a home through foreclosure. With mortgage modification, a St. Charles estate planning attorney can assist you throughout the entire process.
Benefits of Using an Attorney for Modification Processes
There are a lot of benefits to hiring an attorney to help you with your home loan modification. It is especially important to do see when you are in a situation where you aren’t sure how to proceed. Your St. Charles estate planning attorney will help educate you and represent you as you apply for this modification.
Unfamiliarity with the Process of Mortgage Modification
Your attorney will be there to help you understand the nuances of filling out your application. They can also provide you with a list of the documents you will need when you visit your lender. Also, your attorney can guide you through the process of writing a hardship letter explaining your situation.
Unsure About Handling Unique Situation
You may be unsure whether a home loan modification is an option you should choose. Your St. Charles estate planning attorney will guide you through what your options are, and which might work best for your situation. Some of the options that your attorney may suggest include fighting foreclosure in court, pursuing mortgage modification, or tailoring an option for your specific situation.
Denied for Modification in the Past
If you have already gone through the process of requesting modification and have been denied, a lawyer may be able to assist you in determining if you were wrongfully denied. If it is found that this is the case, you will have another chance to modify the loan and avoid certain foreclosure.
Dual Tracking Lender
When we mention dual tracking, this means that your lender is considering your request for a modification but are also seeking foreclosure. If this is the case, there are ways to fight the situation. An attorney can guide you in regards to what your options are and how likely success will be.
If you are looking for an experienced law firm to help with your mortgage modification, Jackson Abdalla Law Group would be happy to assist.