Can You Stop Foreclosure with a Loan Modification?
A loan modification is a permanent restructuring of the mortgage where one or more of the terms of a borrower’s loan are changed to provide a more affordable payment. With a loan modification, the lender may agree to do one of more of the following to reduce your monthly payment: reduce the interest rate.
Loan modifications can be used to stop the foreclosure process to help people stay in their homes. With a loan modification you can lower your mortgage payments and may be able to reduce your interest rate. With a mortgage modification you may be able to get a reduction in your principal balance.
The foreclosure process can be stressful. If you are looking for an experienced foreclosure service to help you stop foreclosure, call us at (847) 398-4793 or read on how filing bankruptcy may help.
The Avny Law Group's office is conveniently located in Mount Prospect, Illinois just minutes from the O'hare International Airport. We provide foreclosure prevention service throughout Illinois including: Addison, Arlington Heights, Aurora, Barrington, Bartlett, Bensenville, Bloomingdale, Bolingbrook, Buffalo Grove, Burr Ridge, Cicero, Des Plaines, Downers Grove, Elgin, Elk Grove Village, Elmhurst, Elmwood Park, Evanston, Franklin Park, Glenview, Gurnee, Hoffman Estates, Itasca, Joliet, Lombard, Melrose Park, Morton Grove, Mount Prospect, Mundelein, Naperville, Niles, Oak Brook, Oak Lawn, Oak Park, Orland Park, Palatine, Park Ridge, Prospect Heights, Rockford, Rolling Meadows, Roselle, Schaumburg, Skokie, Tinley Park, Villa Park, Volo, Wheaton, Wheeling. We represent clients from Cook County, DuPage County, Kane County, Will County, Kendall County, Lake County and all of Chicago.