Rick Hodges Attorney at Law
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700 N. Market, Wichita, KS 67214
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Kansas Loss Mitigation Lawyer

What is loss mitigation?

Loss Mitigation is a group of financial options available to homeowners who are facing foreclosure.  In some circumstances, it is possible to avoid foreclosure with a loan modification.  If that is not possible, there are other means to limit the financial consequences of default.  To determine which of the several loss mitigation processes best suit your situation and to guide you through the negotiations with your lender, it is best to have a lawyer who is an expert in financial law to represent you.  Contact Kansas Loan Modification Attorney Rick Hodge, Attorney at Law for an in-depth consultation.  We have advanced certification in financial law and fourteen years of experience in handling a wide range of loss mitigation services including loan modification, short sales and bankruptcy.

What choices do I have?

If you have fallen behind on your mortgage payment because of some severe hardship, such as loss of your job or unexpected medical bills, you may qualify for a loan modification.  If so, we can negotiate new and lower payments that allow you to keep your home and protect your credit.  While banks can often be very slow to act due to the overwhelming number of loan defaults, having us represent you can speed up the process. 

If you do not qualify for a loan modification, we may be able to get your bank to agree to a short sale.  Instead of just defaulting and losing both your home and credit rating, you will be allowed to sell your home at a reduced price and pay the bank the proceeds against your existing loan.  In some cases the bank will forgive any unpaid amount or they may still expect you to pay off the loan balance over time.  This allows you to maintain at least some of your credit.

If you are currently facing foreclosure, another option is bankruptcy.  Although there are provisions in declaring bankruptcy that can delay a foreclosure, there are other actions that must be taken in each case to fight to keep your property.  Bankruptcy can be a viable choice to eliminate high debt and get a fresh start in life.

Contact a Kansas Loss Mitigation Lawyer at our offices today to learn what you can do if you are faced with foreclosure.  We will explain all the different options that are available to save your home.

300 West Douglas  Suite 145  Wichita, KS 67202

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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