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In Las Vegas, North Las Vegas and Henderson, Nevada, homeowners seeking a principal reduction, elimination of a second mortgage, or other loan workout, come to a Las Vegas loan modification attorney at PandA Law Firm for a creative and effective approach to their loan modification.
Much like a refinance, loan modifications make changes to your original loan in order to LOWER YOUR MORTGAGE PAYMENT. However, unlike a refinance, the changes are usually based on your income, not your credit score or home’s value. More importantly, a loan modification can actually lower the amount you owe the bank! That’s something a refinance can’t ever do. PandA Law Firm can help you:
Most loan modifications include one or more of the above changes, with the end result being a lower mortgage payment!
If your loan payment is too high for you to afford, sooner or later you will default on the loan. When that happens, the bank’s only option is to foreclose on your home and sell it, applying the proceeds against your loan balance. Every month that goes by while the bank is stuck with a property that it cannot sell represents lost revenue. On the other hand, if the bank agrees to a modification, it continues to generate a stream of revenue and will be better off in the long run.
Bankers know these facts and are willing to agree to a modification when they believe it is in their best interest. Part of our job as loan modification lawyers in Las Vegas is getting the lender to agree that your loan is a good candidate for a modification, and then negotiating the most favorable workout possible.
In most cases, PandA Law Firm can modify loans even when you’ve been turned down for a refinance or if you tried to get a modification on your own and the bank denied you. Our attorneys have successfully modified thousands of loans, and have experience with all major banks and most of the smaller ones. Because each case is different, our attorneys provide Free* Consultations. During your consult, your attorney will review your financials and use their experience to tell you whether or not you’ll qualify for a modification. If you don’t qualify, your attorney will discuss your other options. Call 702-818-3888 now to schedule your free* consultation!
Yes! In most cases, PandA Law Firm can modify mortgages for commercial and rental properties! Schedule your free* consultation with one of our firm’s partners today by calling 702-818-3888.
Why not do both? At PandA Law Firm, we understand that a lot of homeowners only want to keep their home if they can get the bank to reduce their principal. That’s why we’ve pioneered the All-in-One Program. If you’re on the fence about whether to modify your loan or short sell the property, click here to learn more.
To contact PandA Law Firm via email, please click here.
Where the mortgage is undersecured because the amount owed is greater than the value of the home securing it, it may be possible to bifurcate the loan. Bifurcation basically splits the loan into two loans, with a secured loan up to the value of the home and an unsecured loan covering the remaining balance. An unsecured debt may be discharged by a bankruptcy, subject to a debt settlement, or otherwise removed through the loan modification process.
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The attorneys at PandA Law Firm help consumers throughout Las Vegas and Henderson, Nevada find effective and manageable solutions for your real estate needs. Get started today!
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