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Wright and Morrison Loan Modification Attorneys at Law

Ogden, Utah, United States

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General Info:

What is a loan modification? A loan modification is when your current lender lowers your monthly mortgage payment by altering one or more of the following: * Lower interest rate * Reduce principal * Convert from variable to fixed rate * Extend length of loan * Bring past due payments current Why would my lender agree to a loan modification? In the long run, your lender will benefit more from renegotiating you loan and keeping you in your home with lower payments, than foreclosing on your home. The formal proceedings associated with foreclosure are very costly and often result in large losses for lenders. On average, a mortgage lender will spend over $15,000 in mitigation costs. Why should I choose Wright & Morrison to renegotiate my loan? Wright & Morrison is Utah companies with 27 years combined experience helping homeowners avoid foreclosure and lowering their monthly mortgage payments. There are many pitfalls that can hurt the homeowner and even make their financial situation worse if proper protocol is not followed. Wright & Morrison focuses on loan modification. And our attorneys and paralegals have the experience necessary to get you the absolute best terms. How is a loan modification different from a refinance? A refinance has credit requirements and/or money down and is a completely new and different loan. A loan modification is simply modifying the existing loan terms and requires no money down or good credit.

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