Loan Modification in Rhode Island

A loan modification is when the lender modifies your current mortgage in order to work with you because of a hardship. The purpose is to help make your loan more affordable. Usually it is in the form of a rate reduction and fixing the rate for a certain amount of time.

Many people find themselves in a situation where they can not keep up with their current mortgage payments. Whether there has been an illness, layoff, or an increase the payment due to an interest rate change we can help. Attorneys are able to get the attention and an answer from the mortgage servicing companies. Our office is experienced in reviewing a client's financial situation and presenting the circumstances the lender to modify the current loan terms. Not every situation will meet the lenders requirements for loan modification but it is worth letting us try on your behalf.

Lenders and servicers are very busy with desperate homeowners trying to save their homes from foreclosure. As a result many people are simply getting lost in the system and suffering foreclosure when a solution could have been worked out with their lender.

Once a lawyer is involved, lenders start to answer calls and provide timely responses to letters. Such quick responses may be the difference between saving your home and losing your home