What Should I Do?
If you recently received a foreclosure notice, you may be wondering what to do. One thing that you should definitely not do is ignore the notice. If you ignore the notice, that will probably reduce the options that you have.
Just because you received a foreclosure notice does not mean that you have to lose your home. If you missed your mortgage payments due to a financial hardship, you might be eligible for a mortgage modification.
If your loan qualifies, a mortgage modification changes your current loan to make it more affordable to you. It does this by reducing your interest rate, extending the life of your loan, and/or a few other methods. The end result could be a lower monthly payment. At the very least, you could get an opportunity to place the missed payments behind the loan and get a fresh start.
Reach out for help as soon as you receive notice that your home is going into foreclosure. If you wait too long, you may not be able to receive a mortgage modification. Further, you have to apply for a mortgage modification. This application needs to be approved before it can help lower your payment.
The Mortgage Modification Center
If you received a notice that your home is in foreclosure, the Mortgage Modification Center and Attorney John S. Simonian may be able to help you. Attorney Simonian has handled hundreds of mortgage modification applications and offers a free initial consultation to help you determine if a mortgage modification is right for you. For your confidential consultation, reach out to the Mortgage Modification Center at (401) 467-7998.