Purchasing a first home is a dream for many new families. However, homes are expensive, and many young families simply do not have enough money to put a large down payment on a home. This results in monthly mortgage payments that are much higher than if the buyers had put a traditional down payment down.
If a first-time homeowner is having a hard time making the mortgage payment, and is experiencing a financial hardship, a mortgage modification may be a great choice! The two main benefits to a mortgage modification are that a family can stay in their home, and their mortgage payments will decrease if approved. This means that the homeowners can stay in their first home that they purchased, and they do not have to move. This also means that the home will be made more affordable to them.
The Mortgage Modification Center
A first home is an important purchase that you will remember for the rest of your life. If you are having difficulty making your mortgage payment on your first home, or any other home, and are experiencing a financial hardship, please reach out to the Mortgage Modification Center at (401) 467-7998. Attorney John S. Simonian has helped numerous families stay in their homes through mortgage modifications over the past 26 years, and he may be able to help your family as well.
Attorney John S. Simonian is a Rhode Island and Massachusetts lawyer who specializes in bankruptcy law and mortgage modifications. Click here to learn more about Attorney Simonian.