Many Americans in today’s economy find themselves devoting a significant percentage of their monthly incomes to mortgage payments. In fact, for many people, the percentage of monthly income devoted to the mortgage payment is far too high to make ends meet. Other debts and costs compete, and in many cases, homeowners are in the frustrating situation of not being able to afford their monthly payments.
At The Law Offices of Ronald I. Chorches, we understand the frustration you are experiencing. Attorney Ronald I. Chorches and our entire team have represented many clients throughout the Hartford, Connecticut, area who have experienced the same thing.
Do not continue shuffling your money every month, trying to figure out which payment to skip or where else to borrow from to make your mortgage payment. Talk with us. Not only are we sympathetic to the situation you are facing, we can help you. Bringing decades of experience and unmatched knowledge in bankruptcy and other financial law matters, attorney Chorches knows the bankruptcy process as well as numerous alternatives to bankruptcy, including loan modifications.
Is A Mortgage Modification Possible?
Most mortgage lenders do not want to foreclose. The process can be cumbersome and they risk losing more than they would by accepting another offer, even if the offer is less than the full value of the loan. For this reason, attorney Chorches is sometimes able to negotiate with lenders to work out mortgage modifications. Depending on the circumstances, it is possible to work out extended payment plans with lower monthly payments, lower interest rates or even reduced principal.
State Court Mediation
In Connecticut, when a case is filed, there is an option for state court mediation. When these mediation procedures are launched, they halt the foreclosure proceeds for the duration of the process. During the mediation sessions, we can work to help you and your lender modify your home loan program or create a more reasonable payment plan while keeping you out of bankruptcy.
Through mediation and other negotiations, we can explore solutions for you to find a valuable alternative to bankruptcy that could reduce costs and help you find financial freedom.
Contact Us For A Free Initial Consultation
Do not try to negotiate with your mortgage lender on your own. Discuss your options with debt relief lawyer Ronald I. Chorches at your free consultation. Call us at 860-563-3955 or email us.