Loan Modifications — Not Always The Best Option
If you are "upside down" on your mortgage and looking for a way out, you may have heard about the new silver bullet known as loan modification. Unfortunately, it's not as easy as it sounds and may not even be possible in your case. In many cases, bankruptcy is a more effective choice for consumers struggling with debt.
Since 1994, the Law Offices of Buckey & Schurter has been helping consumers and business owners in Southern California take care of their debt problems and get the fresh start they so desperately need. If you are struggling with debt, we can help you.
Is a loan modification right for you? To learn about your options in a free initial consultation with a lawyer, call 951-893-5394, toll free 888-591-8958 or contact us online today.
What Is Loan Modification?
In a loan modification, a mortgage lender modifies the terms of the loan by either reducing the principle or reducing the interest rate to lower the borrower's payments. While this could help a homeowner continue to make payments and hold on to their home, many lenders are not willing to do this.
In fact, very few loan modifications actually take place. Many loan modification companies are just looking to prey on desperate homeowners.
If you are in this position, your credit may already be severely damaged, making bankruptcy an attractive option for eliminating or reducing your debt and allowing you a chance to rebuild your credit.
Find Out More Today
To learn more about your options, contact us today for a free initial consultation with a knowledgeable bankruptcy attorney. We have offices in Riverside and Corona.
