Orange County Loan Modification Lawyer

Loan Modification Attorney Serving Orange County

In our current economic times, Orange County is faced with rising unemployment and foreclosures.  Many homeowners are suffering with higher loan payments caused by poor loans given to them by unscrupulous lenders and brokers.  As a result, many individuals can no longer afford their monthly mortgage payments.  If you find yourself in this situation, it is best to consult with Bruce C. Bridgman, Orange County Loan Modification attorney, to advise you on the best alternative to foreclosure.

Loan Modification Options in Orange County

There are various options and techniques available that can be used to obtain a loan modification.  Due to the Adjustable Rate Mortgages (ARM) that were given to many borrowers in the past few years, you likely had a rather large increase in your monthly mortgage payments.  One method of lowering your expense is requesting  your interest rate to be lowered and fixed, no longer adjusting to different interest rates in the future.    A principal loan reduction is when we request on your behalf to have your total loan amount lowered due to the fact that your home has lost a great deal of its value in recent months.  We can request this method along with the lowering of the interest rate to effect a much more viable monthly mortgage payment for you.  Because many penalties and fees are added to your principal amount owing when you are delinquent, our skilled staff can negotiate to have these fees waived so that any payments you are making are being applied to your loan and not to pay back fees.  In addition, there is the possibility of having the length of your loan repayment changed to provide you with additional years in which to repay the loan.  This will also serve to lower your monthly payments.  On some occasions a lender may agree to change the payment amount of your monthly mortgage to a percentage of available income, which can also aid tremendously in the homeowner being able to keep their home.

Although these are some of the common options, there are other ways of preserving your home should the above not apply to your personal situation.  It is best to consult with our highly competent and knowledgeable attorneys so that we may provide you with the best legal advice for your circumstances.  Contact us today at the Law Offices of Bruce C. Bridgman.

Contact Loan Modification Attorney Bruce C. Bridgman for assistance in handling your Loan Modification in Orange County.