Loan Modification Lawyers Based in New Port Richey, FL
Are you in danger of foreclosure? Have you considered the possibility of a loan modification? In some cases, banks will be willing to lower a homeowner’s monthly payments, and possibly even reduce the total principal due, but it’s important to have an experienced foreclosure attorney on your side to help negotiate the deal. Fortunately, if you’re in New Port Richey, Florida, you can turn to the qualified loan modification lawyers at The Lyons Law Group, P.A.
What Does a Loan Modification Involve?
A loan modification (also referred to as a “remodification”) often includes one or more of the following:
- Principal forgiveness – The bank permanently forgives a portion of what you owe toward the principal.
- Principal deferment – The bank allows you to repay a portion of the principal at a later date.
- Interest rate reduction – The bank reduces your loan’s interest rate.
- Extension of the maturity of the loan – The bank extends your deadline to pay off your loan.
- Shared appreciation plan – The bank agrees to forgive part of your loan balance in exchange for a percentage of any appreciation in home value that occurs before you either pay off your loan or sell your home.
One of the mortgage lawyers at our firm can discuss these options in greater detail and explain what you’ll need to show to qualify for a loan modification.
Meet With a Loan Modification Attorney
If you’d like to discuss your foreclosure defense options with a knowledgeable loan modification lawyer, contact The Lyons Law Group, P.A., today. We’re pleased to offer free initial consultations at our office in New Port Richey, FL (and at our other location in Spring Hill). In addition to loan modifications, we also assist foreclosure clients with case dismissals, short sales, and cash for keys, and we’ll be happy to provide advice that’s tailored to your specific circumstances.
