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Interest Rate Modification on Your Home Loan

What kind of mortgage do you have?

There are several ways that a mortgage can be modified, by negotiation a lower the monthly payment, extending the life (term) of the loan, and by lowering the interest rate.  If you are in trouble and have missed making one or more mortgage payments, or it looks like you may be losing your home due to foreclosure, you may want to consider lowering your interest rate to lower your monthly mortgage payment.  You may not be in trouble and just want to be able to lower your payments in order to save money.  Sometimes lowering the interest rate is not an option if it is already so low that the lender is not able to lower it any further.

 It is important for you to know what kind of mortgage you have and if hour payments will be increasing due to your interest rate going up.  You may have one of the following types of mortgage:

  • Fixed rate mortgage- the interest rate is fixed and remains the same for the entire life of the loan
  • Hybrid adjustable rate mortgage- the mortgage rate is fixed for the first several years, then turns into an adjustable rate mortgage
  • Adjustable rate mortgage- the interest rate is adjustable for the beginning of the loan and the amount of your payment will fluctuate over time

Hiring the Right Attorney to Lower Your Interest Rate

A skilled Kansas loan modification lawyer who understands market conditions may be able to negotiate with your lender to lower the interest rate on your hybrid ARM or ARM mortgage, or possibly turn it into a fixed-rate loan.  Rick Hodge, Attorney at Law, has helped clients all over Kansas by negotiation a lower interest rate on their loan to reduce their monthly payments.  He understands exactly what to say, and who to talk to.  We urge you to contact our firm so we can assist you in resolving mortgage problems.

Contact a Kansas Loan Modification Attorney today to discuss lowering the interest rate on your home loan.

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Rick Hodge, Attorney at Law - Kansas Loan Modification Lawyer
Located at 700 N. Market Wichita, KS 67214. View Map
Phone: (800) 836-3617