Chula Vista CA Loan Modification Attorney
Loan Modifications in California
A loan modification is a permanent change to a loan contract agreed to by both the lender and the borrower. The lender modifies an existing loan in an effort to help the homeowner in a time of financial hardship. The ultimate goal is to make the loan affordable for the long term. Usually loan modifications come in the form of a rate reductions and fixing the interest rate for a certain period of time.
I am lawyer Victor Mordey. I have experience helping those trying to survive repercussions of our state and national recession: joblessness, homelessness, foreclosure, repossession, wage garnishment and creditor harassment, to name just a few. You will work directly with me throughout your case, not an associate or paralegal. I provide personal attention when you need it most. A fresh start is out there, waiting for you.
Disadvantages of Loan Modifications
A loan modification may offer you the right amount of relief. On the other hand, loan modifications are limited and have their disadvantages including:
- A loan modification cannot be used to decrease the amount of your loan. It is not to be construed as an attempt to refinance your home. You are not allowed to take out equity.
- Many lenders are not reputable. The mortgage market has been flooded by fraudulent loan modification and debt consolidation scams.
- Many reputable lenders are hesitant to offer loan modifications due to the reduced interest rates that would result.
- Only one in ten homeowners currently qualify for a loan modifications. Requirements are precise, and eliminate many worthy potential applicants.
Contact Chula Vista Attorney Victor Mordey to discuss bankruptcy and other financial options. I will tell you the truth about every aspect of, and alternative to, personal bankruptcy strategies. I will not waste your time and money. My representation is cost-effective and payment plans are available when needed. Call my Chula Vista office at 619-409-7900. I offer the accessible, experienced, responsive legal assistance that gets results. Credit cards accepted.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.