Get the Facts: Loan Modifications

GET TH E FACTS: LOAN MODIFICATIONS A LOAN MODIFCATION IS. .. A solution to high loan payments A chance to An alternative to bankruptcy renegotiate terms of your mortgage TO QUALIFY, YOU MUST. .. 2009 Have suffered Have gotten your loan on or before 1/1/2009 Not have had a loan a verifiable loss modification in the of income past 24 months Be delinquent on payments or in danger of falling behind Prove you could make modified payments Owe $729,750 or less Note: Some lenders may have additional requirements READY TO APPLY? TAHE THESE STEPS Contact your Gather necessary Hire an attorney to handle the process with your lender lender for the documentation, such as proof of income appropriate paperwork WHY DO 4OU NEED A LAWYER? Get help navigating the complex application process Ensure all agreements with the lender are fair and legal Have a knowledgeable advocate negotiating on your behalf PRODIDED BY: Low & Low Bankruptcy Lawyers PRACTICING LAW SINCE 1965. EXPERIENCE COUNTS! wwW.LOWANDLOWBANKRUPTCY.COM SOURCES: http://www.lowandlowbankruptcy.com/loan-modification.aspx http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/nsc/faqlm http://www.zillow.com/mortgage-rates/finding-the-right-loan/ loan-modification-how-it-will-affect-your-future/ http://www.bankrate.com/finance/mortgages/tips-for-getting- a-mortgage-loan-modification-1.aspx http://www.makinghomeaffordable.gov/programs/lower-payments/Pages/hamp.aspx