Programs Exist For Loan Modifications To Second Mortgages
Second mortgages can provide welcome debt relief for homeowners who have built up equity. Over time, financial problems may worsen, making that “help” more of a hindrance. Help is available for homeowners to modify loans. What about those holding second mortgages that have become a burden?
Our loan modification lawyers at Kurland Law Group are seasoned bankruptcy attorneys who help clients get a fresh start. In many cases, relief can come through loan modifications. As part of the Home Affordable Foreclosure Alternatives (HAFA) program offered by the Obama administration, homeowners hold second mortgages and secure a loan modification and foreclosure prevention plan. Benefits to modifying a second mortgage include:
- Lowering interest rates
- Extending payments
- Reducing principal balances
You Likely Need An Attorney To Help Restructure Your Mortgage
Modifying a second mortgage on your own is possible, but it’s complex, especially if the two loans are from different financial institutions. Lenders have an incentive both in maintaining their bottom line and in earning rebates from the government for second mortgage modifications. You need an attorney who will facilitate that process.
Founder Sari Kurland and our team of attorneys and professionals can help navigate through the complexities of a second mortgage modification. We bring legal experience and negotiation skills, combined with thorough and up-to-date knowledge of not only the law, but also the programs available for those struggling to pay a second mortgage.
Call Or E-Mail The Firm Today
Contact the Maryland Kurland Law Group in Rockville by e-mail or call at 301-284-0867 to discuss the possibility of a workout plan for your second mortgage.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.