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Mortgage Modifications

Providence Attorney, Providing Guidance Regarding Mortgage Modification

Ask a Rhode Island Lawyer About Loan Modification

In Rhode Island and Massachusetts, you may have the option of negotiating a mortgage modification with your lender as a way to avoid foreclosure on your home. Modification of your mortgage to provide reasonable, more affordable payments is often beneficial to both the mortgage holder and the lender. First and foremost, the homeowner can remain in his or her home — an occupied, well-cared for home is always a better option to a vacated home that may attract crime. Further, a mortgage modification provides for continuous payments, even if they are of a lesser amount or with a lower interest rate, while a foreclosure sale does not usually yield a considerable percentage of the amount owed on the loan.

As a Providence personal bankruptcy lawyer, I have years of experience assisting clients in the evaluation of their unique circumstances to determine if bankruptcy is the best option to meet their financial and personal goals. In some cases, mortgage modification is a viable alternative to Chapter 13 bankruptcy for stopping foreclosure.

Avoid Foreclosure in Seekonk, Massachusetts

Call the Rhode Island bankruptcy attorney’s office of Robert B. Jacquard, Esq., for a free consultation for information on preventing foreclosure today!