Loan Modifications

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If you’re having troubles making your monthly loan payments you might want to consider a loan modification. Loan modifications simply mean your existing loan paperwork will be revamped to reflect a new agreement between you and your lender, in turn making your monthly payments more reasonable for you and your household. By choosing this method, you will possibly be looking at a couple of changes that will remain in effect throughout the duration of your loan.

Sometimes working with lenders can be a little confusing with the language they use and in some cases, they might even try to get you to pay more than you’re obligated to repay. By the time you realize you have been taken advantage of, it might be too late. To help prevent this mishap from occurring, we offer a free consultation with you to see what the best course of action will be.

There are times you just need some guidance to see which options are available to you to compare and contrast the pros and cons of each. Loan modifications are a great alternative to filing any sort of bankruptcy because it will not be a negative mark on your credit report. However, some lenders aren’t willing to negotiate terms of your loan for specific reasons.

If you have been denied a loan modification don’t become overwhelmed with the appeals process, ask us for assistance. We are happy to walk you through the proceeding steps to see if we can reverse their decision.

Loan Modifications Could:

  • Lower interest rates on your loan
  • Possibly excuse a portion of your debt
  • Allow a fixed interest rate instead of a variable rate
  • Lengthen the duration of the loan
  • Defer lenders from filing legal action

James J Hayes IV PLC

Phone: (989) 891-9145
Fax: (989) 402-1854
Address: 900 Center Ave, Lower Level, Bay City, MI 48708