Suppose you face the same issue with your mortgage due to lack of income, increased expenses, or unforeseen challenges. In that case, you can look into lowering your monthly payments through a mortgage modification. To help you understand how mortgage modification works, here is a lowdown on the process and its associated factors.
The COVID-19 pandemic has taken an incredible toll on many homeowners in unexpected ways. As a result, millions of Americans have fallen behind on mortgage payments and face foreclosure. Thankfully, the Consumer Financial Protection Bureau (CFPB) has recently finalized a rule that creates safeguards to give homeowners the opportunity to avoid foreclosure. The rule, designed…
Forbearance programs give a break to people who owe money during difficult financial times. Such a program may allow borrowers to pay less per installment or to suspend making payments altogether for a time. The coronavirus pandemic has been an extremely turbulent period in which many households have lost work and grappled with expenses. In…
If you have experienced an illness, injury, loss of a job, or another life event that has caused you to fall behind on your mortgage, you may believe foreclosure is inevitable. However, in many cases, there are ways that an experienced mortgage attorney can help you get back on track with your payment and avoid…
Filing jointly for an income tax return is common among spouses, both assuming that since they are married and collectively own their possessions. There is a lower tax liability for those who file jointly. This filing status also assumes that both spouses are liable for anything that may occur from the tax return. Under the…
A contract is a binding agreement creating an obligation enforceable by law between two or more parties. It requires an offer, an acceptance, consideration, and mutual assent which those involved intend to be bound by the terms of the contract. A letter of intent containing those essential requirements can become subject to an enforceable contraction.…
Facing a Foreclosure? If you have fallen behind on your mortgage payments, there are options to prevent losing your home. If you are facing foreclosure, it can leave you feeling devastated and hopeless. It is essential that you seek that you seek legal help immediately to avoid foreclosure and gain additional time to find an…
