{"id":73,"date":"2018-11-05T10:48:15","date_gmt":"2018-11-05T10:48:15","guid":{"rendered":"http:\/\/mortgagemodificationri.com\/blog\/?p=73"},"modified":"2019-02-21T14:01:33","modified_gmt":"2019-02-21T14:01:33","slug":"foreclosure-help","status":"publish","type":"post","link":"https:\/\/mortgagemodificationri.com\/blog\/2018\/11\/05\/foreclosure-help\/","title":{"rendered":"Foreclosure Help"},"content":{"rendered":"

If you fail to make your monthly payments on your home\u2019s mortgage, your mortgage<\/a> company can foreclose on the home.\u00a0 This means that the bank will take your property back, and you and your family need to move out of your home.\u00a0\u00a0 If you receive notice that your home is in foreclosure, you may be looking for foreclosure help to avoid foreclosure.<\/p>\n

The foreclosure rate varies in Rhode Island according to where your home is located.\u00a0 Generally, in Rhode Island, approximately 1 in every 3,600 homes is foreclosed on.\u00a0\u00a0<\/p>\n

Providence County has about 60% of Rhode Island\u2019s population living in it, and contains Cranston, Providence, East Providence, Central Falls, Pawtucket, Woonsocket, as well as towns such as Johnston, Cumberland, North Providence, and Smithfield.\u00a0 In Providence County, about 1 in every 3,300 homes is foreclosed on.\u00a0<\/p>\n

In Kent County, which contains Warwick, West Warwick, Coventry,\u00a0 East Greenwich, and West Greenwich, about 1 in every 2,800 homes are foreclosed on.\u00a0<\/p>\n

However, that number falls to 1 in every 6,000 homes in Newport County, which contains Newport, Jamestown, Portsmouth, Tiverton; and 1 in every 6,200 for Washington County which contains Charlestown, Narragansett, North Kingstown, South Kingston, Westerly, and Richmond.<\/p>\n

<\/p>\n

Rhode Island Foreclosure Map is from (https:\/\/www.realtytrac.com\/statsandtrends\/foreclosuretrends\/ri\/).<\/p>\n

Foreclosure is extremely disruptive.\u00a0 If your home is foreclosed on, you are forced to abandon your home.\u00a0 Further, your credit will be impacted negatively by the foreclosure.\u00a0 Many new landlords or new mortgage \u00a0companies run a credit check before approving you, so this could affect your ability to find a new place to call home.\u00a0\u00a0 Additionally, foreclosure can be stressful and disheartening, especially if it is a home that you love or you have worked hard to keep.<\/p>\n

However, you may have options instead of foreclosure.\u00a0 If you are experiencing a financial hardship, then you may qualify for a mortgage modification<\/a>.\u00a0 Not everyone is approved for a mortgage modification, but if you are, your mortgage payment may decrease.\u00a0<\/p>\n

Additionally, even if your mortgage payment does not decrease, a mortgage modification may benefit you in other ways.\u00a0 A mortgage modification can help you become current on your account by adding all of your late payments and fees to the end of the loan.\u00a0 This may help you avoid foreclosure.\u00a0 Further, if a mortgage modification helps you to avoid foreclosure, then you won\u2019t have to find a new place to live.\u00a0 Finally, although a mortgage modification may impact your credit score, it will not impact your credit score as drastically as a foreclosure would.<\/p>\n\n\n

The Mortgage Modification Center<\/h2>\n\n\n\n

If you live in Rhode Island or Massachusetts and are in danger of having your home foreclosed on, a mortgage modification may help you avoid foreclosure and stay in your home.  Please reach out to Attorney John S. Simonian<\/a> at the Mortgage Modification Center<\/a> at (401) 467-7998 for your free initial consultation.  Attorney Simonian has helped numerous clients throughout his 26 years of practice, and he may be able to help you.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you fail to make your monthly payments on your home\u2019s mortgage, your mortgage company can foreclose on the home.\u00a0 This means that the bank will take your property back, and you and your family need to move out of …Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":490,"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":[60,3],"tags":[29,7,100,99,5,4,30,11,6],"class_list":["post-73","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-modification","category-mortgage-modification","tag-attorney","tag-foreclosure","tag-foreclosure-help-ma","tag-foreclosure-help-ri","tag-loan-modification","tag-mortgage-modification","tag-rhode-island-attorney","tag-rhode-island-foreclosure","tag-rhode-island-mortgage-modification"],"yoast_head":"\nForeclosure Help • Mortgage Modification Center • RI & MA<\/title>\n<meta name=\"description\" content=\"If you live in Rhode Island or Massachusetts and are facing foreclosure of your home, you may have options. 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