Fort lauderdale Loan Modifications lawyer
Purchasing a home is often one of the most significant personal and financial investments that a person will make. For most buyers, it is necessary to elicit the help of a lender to be able to afford the home. While taking out a loan may seem like an easy fix at the time, some buyers fail to think long term and run into financial trouble down the road. The laws concerning real estate and loans can be overwhelming and confusing for buyers who are unfamiliar. That is why it is important to speak with a Fort Lauderdale, Florida loan modification lawyer if you feel a loan modification may be the right option for you and your home.
The Law Offices of Daryl L. Jones, P.A is a loan modification law firm with extensive experience helping clients avoid losing their homes through foreclosure. We help our clients apply for loan modifications. We understand that while you may have been able to afford your loan payment when you first purchased your home, financial situations often change. Whether you have suffered financial hardship, lost your job, or taken on additional expenses in your life, loan modification is an option that can help make your monthly payments more affordable. Our goal is to help our clients avoid foreclosure by educating them on their loan modification options in Fort Lauderdale. We have successfully negotiated thousands of loan modifications that reduce our clients’ monthly mortgage payments while removing the threat of foreclosure.
Understand Loan Modification in Fort Lauderdale
A loan modification is a change made to the terms of an existing loan by a lender. It may involve the following scenarios:
- A reduction in the interest rate of the loan
- An extension of the length of time for repayment
- A different type of loan
- Any combination of the three above options
Such changes usually are made because the borrower is unable to consistently make payments on the original loan. Most successful loan modification processes are negotiated with the help of an attorney or a settlement company (Note: In Florida only an attorney may accept a fee in advance of providing loan modification services). Some borrowers are eligible for government assistance in loan modification. If you are considering a loan modification to avoid the foreclosure of your Fort Lauderdale home, consider speaking with attorney Daryl L. Jones of The Law Offices of Daryl L. Jones, P.A. Attorney Jones has the knowledge of Florida’s real estate laws to help you better understand how modifying your loan may benefit you.
What Happens When You Apply for Loan Modification in Florida?
Many home buyers do not consider how much their mortgage payment may increase when they purchase a home using a loan without a fixed interest rate. While the initial low interest rate may make your mortgage payment seem manageable, subsequent higher interest rates and closing fees can drastically increase the total amount you will pay in the future. If your loan repayment plan begins to feel financially crippling, you may feel helpless as you face the possibility of foreclosure. However, choosing to apply for a loan modification may help.
Getting a mortgage loan modification could mean:
- Extending the length of your loan term
- Lowering your interest rate or changing from an adjustable-rate mortgage to a fixed-rate loan
Though the terms of your modification are up to the lender, the outcome is usually a lower, more affordable monthly mortgage payment. Foreclosure is a costly process for lenders, so many are willing to consider a loan modification as a way to avoid it. To begin the process of applying for a loan modification with the help of a trusted real estate attorney on your side, contact attorney Daryl L. Jones.
Why You Should Hire a Fort Lauderdale Loan Modification Lawyer
The various areas of Florida real estate law can easily become convoluted. When considering a loan modification, it is especially crucial that you understand each step of the process without missing a step. It is important that to negotiate a new set of terms that will work for both you and your lender. To get help coming to a new loan agreement, it is essential that you get assistance from an experienced loan modification lawyer. When working with The Law Offices of Daryl L. Jones, P.A, you will experience the following benefits:
- Prompt communications
- Knowledge of Florida real estate laws
- Knowledge of federal laws that impact the terms of your loan modification
- Award-winning legal services
If you are facing foreclosure and believe that a loan modification may be a good solution, contact our Fort Lauderdale, Florida loan modification office as soon as possible.
Get Help From a Fort Lauderdale Loan Modification Lawyer
When a family is no longer able to afford their loan payments for their home, they may feel helpless as they try to avoid foreclosure. You may feel you are alone as you navigate the Florida real estate legal system, but that is not the case. To help keep your home, contact a Fort Lauderdale loan modification attorney today.
Attorney Daryl L. Jones of The Law Offices of Daryl L. Jones, P.A has extensive experience helping clients understand their options concerning loan modification. Attorney Daryl L. Jones is passionate about helping clients find a solution that will suit their needs and the needs of their lenders. Contact us today to schedule an initial strategy session or call (305) 969-3602.