What is a Mortgage Modification Agreement?

What is a Mortgage Modification Agreement Florida Foreclosure Lawyer

Are you currently struggling with your finances? You are not alone. Many people go through periods of their life where they are worried about making their mortgage payments. If this is what you are struggling through, know that you have options. A mortgage modification agreement is one option that may be right for you. Please keep reading to learn more. When you are ready to get in touch with a Florida foreclosure defense lawyer, call our office to set up a free consultation.

What Causes Problems with Paying a Mortgage?

Especially with the pandemic still impacting the way we live our lives, many people are having financial issues. There are also many situations that can put someone into financial duress.

Some of the most common issues that people experience include divorce, layoff, death in the family, sudden illness, injury, etc. These can all put an unexpected financial burden on you. Whether you have lost an income or have had to shell out a lot of money, you may be struggling to make ends meet.

When people are in a tough spot financially, feeding themselves and their families as well as keeping a roof over their heads becomes a top priority. Having a mortgage modification agreement can help you save your home from foreclosure. Please keep reading to learn more.

How to Get a Mortgage Modification Agreement

A mortgage modification can also be called debt rescheduling. This is the process in which you ask the mortgage lender to change the agreements you have with your current mortgage loan.

A modification may mean that you are going to reduce the interest rate of your loan or extend the length of your loan. Both of these options will result in your monthly mortgage payments being lower.

If you are interested in a loan modification, we strongly recommend that you reach out to our office right away to learn more about your options.

Free Consultation with Our Florida Foreclosure Lawyers

If you have been worried about making your mortgage payments, you are likely looking for ways to avoid foreclosure. A mortgage modification agreement can help you do just that. Our Florida foreclosure defense lawyers would be more than happy to help you go over your options. Give our office a call today to set up a free consultation.

 

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