Mortgage Renegotiation Lawyer
Owning a home is the American dream, but more and more often many homeowners find it hard to make monthly home loan payments. For most people, a setback, including a lost job or an unemployed spouse, divorce or even a serious injury, could have been the last straw that leaves them in arrears and desperately searching for a financial solution.
If you have faced a financial setback and are having trouble keeping up with your home loan payments, mortgage renegotiation may be a viable option for you. Mortgage renegotiation refers to the process where the lender and the borrower modify the original terms of a mortgage that they had agreed upon.
David Kaplan is an experienced attorney that focuses on helping clients achieve debt relief through bankruptcy and alternatives to bankruptcy.
Mortgage Reduction Through Negotiation
A Chapter 13 bankruptcy allows you to restructure your loans and debts when you are in a challenging financial situation. When you are unable to pay your mortgage, a government program may allow you to defer payments, spread payments over a number of months or reduce debt through negotiations.
David H. Kaplan has extensive experience working with lenders and can help you reorganize your debt. It is important to work with an attorney before you sign off on an agreement — you may end up facing balloon payments at an unexpected time or agree to a change you are not aware of.
Individuals can pursue various options to refinance their mortgages, but in order to successfully refinance; they must organize their financial information, write letters explaining their hardship, fill out complicated paperwork and interact with officials in the government or in the bank. Without someone who understands the process, they are likely to make mistakes that could cost them their home. They may also sign a new mortgage agreement that contains unfavorable terms.
If you live in New Jersey and you need assistance with a mortgage refinance, contact the Law Office of David H. Kaplan.
There are several alternatives to filing bankruptcy. One option as already mentioned is refinancing your mortgage. Here are some alternatives:
- Re-amortization of overdue mortgage
- Deed in lieu of foreclosure
- Negotiating one debt
You do not have to feel trapped when you are no longer able to cope with high cost mortgage repayment rates. Our firm understands that the current financial state of our country may make you fall behind on bills.
If you are unable to refinance your mortgage, The Law Office of David H. Kaplan can help you make a smooth transfer into bankruptcy court where you can avoid foreclosure.
Contact us today for a free initial consultation session!