Learn more on loan modification from an experienced attorney

Posted by sophiamilller on June 6th, 2013

Due to the serious economic crisis that has affected the entire world in the last years, more and more people lose their homes in favour of banks or other financial institutions. In such difficult moments, there is only one person that can make a difference: a bankruptcy, foreclosure defense attorney. The Thorpe Law Firm, P.A.- (Bankruptcy Attorneys & Foreclosure Lawyer) - (813) 933-5051 is one of the best names that come to mind. With years of experience in this field, they have both the competencies and the skills to handle even the most complicated legal issues. From obtaining a loan modification to designing a work-out plan, they will apply the law in your benefit, trying to get as many advantages as possible. So, if you have any problems, contact them today for more details!  

The Thorpe Law Firm, P.A.- (Bankruptcy Attorneys & Foreclosure Lawyer) - (813) 933-5051 starts from a simple assumption: to get your house back. In this sense, one of the most common, most efficient ways to prevent foreclosure is by asking a loan modification. In simple terms, this operation implies a change of the loan’s original terms. It has become more and more popular in the last years due to the high rate of foreclosure cases.

So, what type of measures a loan modification implies? Well, first of all, it is required a new financial evaluation performed by the lender, evaluation that will contain details on income, liabilities, assets, expenses. Then, the lender will add to the new payment amount also the late charges, the missed payments, the fees and costs of the attorney. In the same time, the lender can reduce the interest rate if the borrower cannot sustain the payments. If the borrower is still unable to pay the rates after the interest rate has been lowered, then the lender can extend the loan payment period. Other measures include deferred principal or partial claim or reduction of the principal balance.

As you can see, these issues are not simple at all. The Thorpe Law Firm, P.A.- (Bankruptcy Attorneys & Foreclosure Lawyer) - (813) 933-5051 will handle each step of the procedures, managing all paperwork and intermediating between the parts implied. No matter what your situation is, the specialists working at the Thorpe Law Firm, P.A.- (Bankruptcy Attorneys & Foreclosure Lawyer) - (813) 933-5051 will offer competent legal assistance, without making any compromise from high quality standards.

The truth is that the risk of losing your house is not at all a pleasant experience. A loan modification, a short refinance, a short sale or loan assumption are some of the actions that can be taken in order to avoid foreclosure. However, without the proper legal assistance, the case can be easily lost and that is something that nobody would like.

For further details on professional legal services at competitive prices, please visit loan modification. Access the site The Thorpe Law Firm, P.A.- (Bankruptcy Attorneys & Foreclosure Lawyer) – (813) 933-5051 if you want to read more on the staff, the type of services covered and the certificates and qualifications the firm has.