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Loan Modifications on the Rise Again

Loan Modifications on the Rise Again

Loan modifications are on the rise again and the reason is because the first wave of loan modifications are expiring. The first wave of loan modifications (2009 – 2012) is reaching its point of adjustment in which borrowers have to make larger payments due to increasing interest rate and having to make principal payments. If this is the situation that you’re facing, don’t hesitate to reach out to Atlantis Law for a free loan modification consultation.

As the economy begins to recover, banks are going after loans that they have left alone during the recession. If you haven’t paid your mortgage in a few years and the bank is now just starting the foreclosure process, a loan modification may be a great option for you.

Some of the advantages of a loan modification can be:

  • Lower interest rates
  • Extended payment schedule
  • Interest forgiveness (“principal forbearance”)
  • Principal reduction

We’ve been doing loan modifications in the Rancho Cucamonga and greater Inland Empire for many years and have helped clients achieve great success. If you’re behind on your loan and afraid of losing your home, give our dedicated Rancho Cucamonga loan modification lawyers a call today.

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