LOAN MODIFICATIONS/MORTGAGE ASSISTANCE
Our Firm Helps People Stay in Their Homes
At the Law Office of Michael E. Ripley, we take pride in providing excellent mortgage assistance to Southern California residents, whether through loan modification, short sales, deed in lieu of foreclosure, foreclosure avoidance, or trustee’s sales. Our Team has over 50 years of combined legal and banking experience throughout San Diego County, including the North County and East County areas. The staff takes every Loan Modification case seriously. The results we have obtained for our Clients have equaled or exceeded their expectations.
People who come to the Law Office of Michael E. Ripley seeking assistance with a Loan Modification are given personalized service from the time they contact us. Once a new Client fills out a questionnaire and provides information about their finances, the office staff will provide an analysis of the client's financial situation to determine whether Loan Modification is possible. This will include contacting the prospective Client's lender by telephone, in the Client's presence, to determine whether the lender will agree that the borrower is pre-qualified for Loan Modification. These steps are taken before our Law Office will agree to represent the Client to obtain loan modification, and before the client signs a contract with the law office in order to go forward.
If any of the following circumstances or situations are facing you, we can help you with Mortgage Assistance, including Loan Modification:
- You are behind in making your mortgage payments.
- You owe more money on your house than it is worth.
- You are unable to refinance the loan for your home.
- You have been served with foreclosure papers or a Notice of Trustee's Sale.
- You are having economic hardships because of such things as a job loss, medical expenses, or disability.
- You have an adjustable rate mortgage, that has reset, or that is going to reset in the near future, so that you will not be able to afford your mortgage payments.
If your answer is "Yes" to any of the statements above, then a Loan Modification might work for you. For more detailed information, see Economic Hardship: Is a Loan Modification right for You?
Our clients appreciate that we:
- Give them straightforward advice
- Do not give up on them
- Get results when other methods to save their homes have failed
Loan Modification Attorney in San Diego
People who come to the Law Office of Michael E. Ripley seeking assistance with a loan modification are given personalized service from the time they contact us. Once a new client fills out a questionnaire and provides information about their finances, the office staff will provide an analysis of the client's financial situation to determine whether loan modification is possible.
This will include contacting the prospective client's lender by telephone, in the client's presence, to determine whether the lender will agree that the borrower is pre-qualified for loan modification. These steps are taken before the law office will agree to represent the client to obtain loan modification, and before the client signs a contract with the law office in order to go forward.
Is a Loan Modification Right for You?
San Diego Mortgage Modification Attorney helps with Economic Hardship
Loan modification is the process whereby a homeowner's mortgage is modified and both the lender and borrower are bound by the new terms. The Law Office of Michael E. Ripley is experienced in handling all types of mortgage modifications including:
- Reduction of the interest rate
- Reduction in payments
- Converting variable-rate loan to a fixed-rate loan
- Reducing the principal of the loan
- Extending amortization up to 40 years
- Addressing tax arrearage, escrow fees, taxes and insurance
Unsure if Loan Modification Is Right for You?
In order to get a loan modification, a hardship letter is prepared that explains the client's situation. Our law firm knows what is required by lenders and can prepare a hardship letter that will satisfy a client's lender that loan modification is appropriate. Is one, some, or all of the following factors involved?
- Job loss
- Reduced hours of work
- High credit card debt
- Medical bills/illness/death
- Adjustable rate mortgage that has already reset
- Adjustable rate mortgage that is going to reset in the near future
- Homeowner owes more on home than it is worth
- Homeowner is delinquent in house payments
- Homeowner has received a Notice of Delinquency from his or her lender
- Homeowner has had a Notice of Trustee's Sale posted on the front door of his or her home
If any or all of the above circumstances apply to you, you are eligible for loan modification. A second factor for loan modification is your income. The goal and stated aim of loan modification is to reduce a homeowner's mortgage payments to equal 31 percent of their gross (pre-taxed) income. If your present mortgage payment exceeds 31 percent of your gross monthly income, then you should be able to qualify for a loan modification.
Call 858-792-5800 for a Free Consultation
The knowledgeable staff at the Law Office of Michael E. Ripley is here to help San Diego, California residents who are seeking Loan Modifications.
Contact our Team by calling or filling out this CONTACT US form.