A Loan Modification Can Help You Save Your Home

When you fall behind on your mortgage payments, panic can set in. The longer you go without being able to pay what you owe each month, the more vulnerable you can be to the threat of foreclosure. When your payments start falling 30 days, then 60 days, then 90 days behind, you could be in serious trouble if you don't take action.

Relief is available. Call 888-813-4737 now to find out how you can save your home. Se habla español.

At Nowack & Olson, we've seen what can happen to individuals and families who don't act quickly enough and have their homes fall into foreclosure. As a Florida homeowner, you should do everything you can in order to keep your home from being taken away from you. Whether that means filing for bankruptcy or requesting a loan modification from your lender, our attorneys are here to help.

Understand Which Options You Can Choose In Florida

Foreclosures are the worst-case scenario for homeowners, but they are not the outcome that lenders are hoping for either. In the long run, it's better for banks to keep a customer who is able to continue paying rather than add yet another foreclosed property to a large list and try to recoup their investment. That means many lenders may be willing to alter the terms of your mortgage if it makes sense for them.

There isn't a standard way to handle a loan modification, but no matter how it is done, the goal of the process is essentially the same: to make monthly payments more affordable. This can be done in several ways: by lowering the interest rate; by extending the length of the loan to decrease the monthly payments; or even lowering the principal balance.

Free Consultation ~ No Obligation

Regardless of how it is done, if you think this might be a solution for you, it's crucial to contact us as soon as possible. Call our Fort Lauderdale lawyers today at 888-813-4737 or email our law firm to get started.

Start breathing easier today. We are here to help you.