In business for more than 16 years, Rauser & Associates Legal Clinic LLP has guided more than 40,000 clients in Columbus, Cleveland, Akron, Youngstown, Canton and statewide through the process of filing for bankruptcy or exploring bankruptcy alternatives. We will carefully examine your financial situation and provide an honest appraisal of your options. It is not uncommon for individuals to start considering Chapter 13 bankruptcy, only to realize that a loan modification might be a better answer for their situation.
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For the vast majority of people, a mortgage payment is the single greatest drain on the family finances. When money gets tight, individuals often have to sacrifice the payment of one bill for another. It is not uncommon for the mortgage to be paid late or not at all in lieu of other expenses such as utilities, medical bills or even groceries. When you find yourself forced to make decisions like this, do not hesitate to contact our skilled Ohio loan modification lawyers.
For the most part, the bank does not want to foreclose on your property. It would rather receive payments than own property. Most, if not all, lenders have a built-in process for examining the terms of a loan and potentially making changes in a number of areas. We can explain this process to you, and represent you from start to finish.
Based on your specific situation, it might be possible to negotiate certain modifications with your lender:
- Lowering an interest rate
- Lowering your monthly payment
- Extending the length of the loan
- Adding your missed payments to the end of the loan repayment
Of course, the ultimate decision rests solely with the bank. You should consider the possibility that the only way to stabilize your finances is through filing for bankruptcy. Our experienced attorneys can help you toward a fresh financial start.
If you have further questions about loan modification, contact any of our convenient Ohio offices by calling 888-843-5787. Offices in Columbus, Cleveland, Akron, Youngstown, Canton and throughout Ohio. Someone is available six days a week to discuss your options.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.