Chicago Loan Modification Attorney Services

 

Foreclosures are public so you've likely been hit with numerous flyers and postcards from entrepreneurs looking to "help" and "save" your house. Many of these people are offering to short-sell your home to remove you from the obligation of your debt.

 

God bless 'em, it's America. However, the reality is that you bear the risks. If the "expert" can't save your home, your house gets sold at by the county sheriff and you may owe money for the deficiency. Even worse, you may have to pay taxes on that money. Don't sell yourself short by just selling short. Let our firm help you preserve your home and negotiate new terms with your lender

 

WHAT IS A LOAN MODIFICATION?

 

Your loan has fixed terms that you agreed to. For example, you may have borrowed 225,000 for that you now pay in installments at 6.75% for a term of 30 years. A Loan Modification changes the terms of that agreement. Ideally, the rate is lowered and your monthly payment is reduced. In other cases, the bank may allow you to skip some payments or to resume missed payments. Each scenario and bank has diffierent criteria. We push for the best solution for you.

 

WHAT IS A SHORT REFINANCE?

 

 

Besides Loan Modifications, you have other options to consider. These include:

 

Deeds-in-Lieu

Forbearance

Bankruptcy

Foreclosure Defense