{"id":287,"date":"2019-01-02T10:38:34","date_gmt":"2019-01-02T10:38:34","guid":{"rendered":"http:\/\/mortgagemodificationri.com\/blog\/?p=287"},"modified":"2019-02-08T00:34:30","modified_gmt":"2019-02-08T00:34:30","slug":"mortgage-default","status":"publish","type":"post","link":"http:\/\/mortgagemodificationri.com\/blog\/2019\/01\/02\/mortgage-default\/","title":{"rendered":"Mortgage Default"},"content":{"rendered":"\n<p>You probably know that if you miss a mortgage payment, your mortgage will enter into <a href=\"https:\/\/www.consumer.ftc.gov\/articles\/0194-trouble-paying-your-mortgage\">default<\/a>. If your mortgage is in default, then this can lead to <a href=\"http:\/\/mortgagemodificationri.com\/blog\/2018\/11\/05\/foreclosure\/\">foreclosure<\/a>. But what does mortgage default mean, and how will it affect you?<\/p>\n\n\n\n<p>If your mortgage is in default, then yes, this can lead\nto <a href=\"http:\/\/mortgagemodificationri.com\/blog\/2018\/11\/05\/foreclosure\/\">foreclosure<\/a>\nand losing your home. However, before it gets to that point, there can be both\nlate fees and default fees that can be added on to your account.&nbsp; These two fees combined can add hundreds or\neven thousands of dollars on to your account, depending on how long it takes\nbefore your account is current.&nbsp; Your\naccount being in default will also affect your credit negatively. Additionally,\nthe more you owe on your account in fees, the longer it will take for your\naccount to be current.<\/p>\n\n\n\n<p>If your mortgage is currently in default and you are\nfacing hundreds or even thousands of dollars in fees, or you are facing\nforeclosure and the possibility of losing your home, a <a href=\"http:\/\/mortgagemodificationri.com\/blog\/2018\/09\/18\/rhode-island-mortgage-modifications\/\">mortgage\nmodification<\/a> may be able to help you get current on your mortgage. A\nmortgage modification is a change in your current agreement that modifies one\nor more terms of your mortgage. For example, all of the late and default fees\ncan be <a href=\"http:\/\/mortgagemodificationri.com\/blog\/2018\/11\/23\/what-does-capitalization-of-arrears-mean\/\">added\non to the principal of the loan<\/a>, so you can become current without paying a\nlarge sum of money upfront.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Mortgage Modification Center<\/h2>\n\n\n\n<p>If your mortgage is currently in default, and want to see\nif a mortgage modification can <a href=\"https:\/\/www.fhfa.gov\/Homeownersbuyer\/Education\/Pages\/Tips-for-Homebuyers.aspx\">help<\/a>\nyou, please reach out to the <a href=\"http:\/\/mortgagemodificationri.com\/\">Mortgage\nModification Center<\/a> at (401) 467-7998. The Mortgage Modification Center,\nled by <a href=\"https:\/\/www.law-ri.com\/\">Attorney John S. Simonian<\/a>, has\nhelped numerous families modify their mortgages and stay in their homes\nthroughout Rhode Island. Contact Attorney Simonian for your free initial\nconsultation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You probably know that if you miss a mortgage payment, your mortgage will enter into default. If your mortgage is in default, then this can lead to foreclosure. But what does mortgage default mean, and how will it affect you? &hellip;<a class=\"rm\" href=\"http:\/\/mortgagemodificationri.com\/blog\/2019\/01\/02\/mortgage-default\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[66,60,3],"tags":[88,5,48,4,54,6],"class_list":["post-287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreclosure","category-loan-modification","category-mortgage-modification","tag-default","tag-loan-modification","tag-mortgage-help","tag-mortgage-modification","tag-mortgage-modification-attorney","tag-rhode-island-mortgage-modification"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mortgage Default &#8226; 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