Is a Loan Modification Right for Me?
If you have fallen behind on your mortgage payment, and you do not see any foreseeable way to catch up, a loan modification may be a good option for you. At Jacoby & Jacoby, we have helped countless clients throughout New York improve their financial situation through a loan modification, and would be more than happy to schedule a consultation to discuss your financial situation with you.
Loan modifications are not for everyone. In general, the people who benefit the most from a loan modification meet at least one of the following criteria:
- A financial hardship has put you in a position where you could lose your home
- You anticipate you will experience a serious financial hardship in the near future
- Your mortgage is larger than the value of your home
- You are facing foreclosure
- You have fallen behind on your mortgage payments
- Your adjustable rate mortgage has increased and you can no longer afford it
- Your adjustable rate mortgage is about to increase, which will raise your monthly payment
- You have a fixed mortgage rate, but your interest rate is at least 2% above the current market value for a 30 or 40-year home loan
- You have a steady source of income
Experienced Loan Modification Attorneys Serving New York
Before applying for a loan modification, it is best speak with an experienced New York loan modification attorney who can advise you of your legal options, inform you of your rights, and protect your best interests throughout the modification process. At Jacoby & Jacoby, we have helped many clients in New York successfully apply for a loan modification, and can protect you from foreclosure scams or shady loan modification companies. Our goal is to help you achieve your objectives to ensure a more secure financial future, whether that means successfully modifying your loan or taking advantage of some alternatives to a loan modification, such as bankruptcy, short sale, or loan forbearance.
If you are interested in scheduling a consultation to discuss applying for a loan modification, please contact a New York loan modification lawyer at Jacoby & Jacoby today!