Restructure Mortgage lawyer Oklahoma City, OK

If you are thinking about loan modification, then you may need guidance from a Restructure Mortgage lawyer Oklahoma City, OK residents trust from Marty Martin Law. You can apply for modification alone, but in many instances, it helps to have a lawyer by your side to offer advice. In this way, you can get a better understanding of your legal rights and we can inform you immediately if the servicer has violated the law. All in all, hiring a lawyer can make the difference between having your mortgage adjusted and losing the home you live in due to foreclosure. 

Information About Mortgage Modifications

A loan modification is a structuring of your mortgage, where your lender adjusts one or more of your terms within the loan so that it is more affordable for you. To get modification, you often have to submit an application to the loan servicer, in addition to related documents (such as bank statements and pay stubs). Your lawyer can suggest ways to make a stronger case for yourself when filing the application. Under modification, your lender may agree to the following in order to reduce payments:

  • Lower the interest rate
  • Change you to a fixed interest rate instead of a variable interest rate
  • Forbear a portion of the principle balance
  • Extend the duration of the loan term

How We Can Offer Guidance

Many people come to us unsure of what to do about their situation. Financial struggles come along with immense stress and pressure, and you may be searching for a solution that brings you some peace of mind. For instance, if you are facing a foreclosure, and aren’t sure whether modification is going to provide you with the relief you are hoping for, we can offer insight and clarity. Based on your circumstances, we may suggest:

  • Seeking mortgage modification
  • Fighting your foreclosure notice in court
  • Allowing the property to be taken instead of foreclosure, via deed or short sale

When Your Loan Servicer Violates Laws

As your Restructure Mortgage lawyer in Oklahoma City, Oklahoma may explain, if your loan servicer does not follow federal laws or other state laws, then having us represent you can safeguard you from further violations. We protect your rights and best interests, and can ensure your case is being treated fairly based on legal protections. For example, your servicer cannot begin a foreclosure until 120 days after the loan has been defaulted on. During this period, you are supposed to be given an opportunity to seek an alternative, such as modification, before any foreclosure gets processed. If you send in an accurate and complete application to the loan servicer, they cannot start the foreclosure while the documents are pending. If you suspect your servicer has violated the law, call us immediately. 

Call Marty Martin Law Today

If you are stressed out over mortgage issues and need support, please call an OK Restructure Mortgage lawyer in Oklahoma City from Marty Martin Law now.