The attorneys at Kasen & Kasen, P.C. regularly represent individuals seeking to obtain mortgage relief (e.g. loan modification, forbearance, deferral, refinance, deed in lieu of foreclosure, short sale, reverse mortgage, etc.).
Special circumstances enabling Mortgage Relief
businesses seeking to obtain mortgage relief (e.g. loan modification, forbearance, deferral, refinance, deed in lieu of foreclosure, short sale, reverse mortgage, etc.)
A loan modification is a process where the terms of an existing loan are modified in order to make the payments more affordable for the homeowner. This may involve lowering the interest rate, extending the loan term, or reducing the principal balance. The goal of a loan modification is to help the homeowner catch up on their missed payments and keep their home.
To qualify for a loan modification, homeowners typically need to demonstrate that they are experiencing financial hardship and are unable to make their current mortgage payments. This may involve submitting financial documents, such as pay stubs, tax returns, and bank statements, to show that their income has decreased or their expenses have increased.