Home Mortgage Help
Adjust Your Mortgage
Lenders may adjust your mortgage in response to your long-term inability to repay the loan. Loan
adjustments may (1) reduce the interest rate (2) reduce the principal balance and (3) change the
term of the loan, or any combination of the three. Lenders are often open to adjusting a loan
because the cost of doing so is less than the cost of default or foreclosure.
A loan adjustment agreement is different from forbearance. Forbearance is a repayment plan which provides
short-term relief for borrowers who have temporary financial problems, whereas loan adjustment is a long-term,
permanent solution for borrowers who will never be able to repay their existing loan. Reworking your mortgage
may be the only way to save the biggest investment of your life, your home. Negotiating a loan adjustment of
your home loan can be an overwhelming process for many homeowners, which is why retaining the services of Debt
Help Lawyers, rather than a non attorney loan adjustment company, is imperative.
Short Sale
A short sale is a sale of real estate where the proceeds from the sale fall short of the balance owed on the
property's loan. In a short sale, the bank or mortgage lender agrees to discount a loan balance because of an
economic or financial hardship on the part of the mortgagor. The home is sold for less than the outstanding
balance of the loan, and the proceeds of the sale go to the lender. A short sale typically prevents a home
foreclosure, but the decision to do a short sale is often decided by the lender based on the best way for the
bank to recover the amount owed on the property. For the home owner, advantages include avoiding a foreclosure
on their credit history and at least partial control of the monetary deficiency. A short sale is also typically
faster and less expensive than a foreclosure.
Foreclosure Defense
Foreclosure defense describes a set of legal tactics and strategies Debt Help Lawyers use to fight and defend
lender foreclosure actions. Foreclosure defense involves fighting both judicial and non-judicial foreclosures
of property wherein borrowers and their attorneys deny the legal claims or authority of the lender to foreclose.
Common strategies include making lenders produce the note; the use of the Truth in Lending Act (TILA); rescission;
predatory lending and predatory servicing; fraud; breaks in chain of title; and other tactics.
Start the Process of Loan Adjustment
Disclaimer >>
Home Mortgage Help may not be available to everyone. Other Debt Help Lawyers services include the negotiation
and settlement of unsecured debts, and also analyzing whether your fair debt collection rights are being violated.
Depending upon your circumstances, a defense against pending lawsuits or garnishments may also be available.
Under the My Smart Debt Program, debt collector
interventions, validations and disputes, credit card billing disputes, and other consumer
financial legal services, may also be available. Chapter 7 or 13 Bankruptcy help may also be available.