Utah Loan Modification
Why you need an attorney
- >Understand your legal rights
- >Understand your options
- >STOP your foreclosure sale
- >Chose the option that BEST fits your circumstances
- >Experience AND Success
What is Loan Modificaiton?
A Utah Loan Modification is a legal contract that either temporarily or permanent changes the terms of note that the homeowner signed when he purchased or refinanced their home. Lenders use many different terms when referring to a modification such as: restructuring, home retention plan, or a workout plan. A loan modification plan varies by lender, but changes include temporary or permanent reduction to your mortgage interest rate, term of repayment and reduction in your monthly mortgage payment. A Utah loan modification may also roll your past due amounts into the loan, and the new mortgage balance re-amortized. In some cases the total amount that your owe under your mortgage or your principal will be reduced as well.
Are there different types of loan modification?
It is important to understand that there are different types of loan modification. Each type or program of loan modification has different qualification requirements and different outcomes. Our loan modification professions will help you through the options to understand which options you can potentially qualify and provide the best loan modification results based upon your indiviadual circumstances.
What loan modification options are available?
To learn more about the different loan modification programs that are available, click on of the following links:
- >Making Home Affordable (HAMP) - loan modification program
- >Principal Reduction Program or National Home Ownership Retention Program (NHRP)
- >Private Investor Loan Modification
- >Loan Modification in Bankruptcy