We Help Modify Mortgages and Avoid Foreclosures
When you face foreclosure on your family's home, it can be tempting to turn to companies promising easy debt relief fixes. Too often, what they promise to do for consumers is simply too good to be true. At the Law Office of Jill M. Heiliger, we pride ourselves on helping our Muncie, Indiana clients find genuine and honest routes to financial help, whether that route involves us or not. In many cases, we refer clients to agencies providing free services helping them to modify their mortgage and save their home.
We also help people get out from under mountains of debt with Chapter 7 and Chapter 13 bankruptcies. To get the information you need to make an informed decision about the most sensible route for you to take back to financial health, call us at 765-273-4670 or toll-free at 888-770-1035. You can also contact us online.
Mortgage Modification
With recent federal legislation changes, there are now lenders voluntarily allowing mortgage modifications for borrowers who have fallen behind on their payments or are in danger of falling behind. Attorney Jill Heiliger will explain the benefits and consequences of all the mortgage modification options available to you. We will also be glad to refer you to free services available to get a modification.
Mortgage Loan Modification Options
When it comes to modifying your mortgage, there are often several options available:
- If you're behind on the mortgage, refinancing can be an attractive option.
- Lowering the payments for a specified amount of time agreed upon with your lender.
- Adjusting the loan's interest rate. This can be done without changing the number of payments left on your mortgage.
- Modifying variable or balloon payment rates to become fixed interest rates.
If you are filing Chapter 13 bankruptcy, you can go through this modification process at the same time. After the three to five years of fixed bankruptcy payments are made, mortgage payments will continue to be lower. To learn more about options that fit your circumstances, talk to our experienced bankruptcy attorney.
Foreclosures
If you want to keep your home, you can file Chapter 13 so you're current as of the day of filing and can pay arrears back over time. If your home is already set for a sheriff's sale, we can stop your home from being sold.
Some people prefer to do a short sale or deed in lieu of foreclosure. Please note that there can be tax repercussions involved. Talk to a lawyer to learn more about how your taxes might be impacted.
Call the Law Office of Jill M. Heiliger at 765-273-4670 or toll-free at 888-770-1035. You can also contact us online.