Do You Have Problems Paying Your Mortgage?

There are hundreds of reasons why you might have problems paying your home loan. During the recession, hundreds of people found themselves underwater, which means that they owed more on their homes than what those homes were worth. A medical problem that kept you from working, major changes in your personal life or changes in your professional life can all reduce the amount of money you have available to pay your mortgage. Here at the Law Office of Yuriy Moshes, P.C., we can help you learn more about loan modification programs that can help you reduce your payments.

Modifying Your Home Loan

The Home Affordable Modification Program, or HAMP, is a program designed and implemented by the federal government that helps those in need reduce their payments. When you enroll in the program, your payments drop to just 31% of what you make before taxes. That can save you hundreds of dollars every month and make your payments more affordable. We know that not everyone qualifies for this program and other modification programs, but we can help you find out which programs you do qualify for and which program can help you.

Requirements for Modification

The HAMP has a number of requirements that you must meet before applying and enrolling. You must owe less than a certain amount on your home, you must have a mortgage that dates back to before 2009 and you must show that you have problems paying your mortgage. The government requires that you either have one or more late payments on your record or that you can show you won’t make your payments on time in the future. Other programs may require that you make below a certain amount each year.

Getting Legal Help

Requesting a loan modification is something that can take weeks or even months from the date you start looking for information. We know that the forms and information required of you are often complicated and use legal terms you might not understand, which is why we offer help and support to anyone with mortgage problems. The more you put off asking for help, the greater the risk is that you might lose your house. Call (888) 445-0234 to reach the Law Office of Yuriy Moshes, P.C. when you need help learning more about loan modification programs and how you reduce your risk of foreclosure and bankruptcy.

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