Loan refinancing and modification are not as complicated as you might think. Our Atlanta loan refinancing lawyers have thorough knowledge and experience with debt negotiations of this kind, and we can help you.
More importantly, at The Slomka Law Firm, we will take the time with you at the very beginning — before we take any action — to make sure that one of these options will be best for you. We will look at your financial situation and help you make smart decisions so you can hit the reset button and get a fresh start.
- Loan refinancing: Loan refinancing has been popular in recent years as interest rates have been generally going down. When you refinance, you replace one loan at a higher interest rate with another loan that has a lower interest rate. With the lower interest rate, your monthly payment should be lower but be cautious: There might be other aspects of a loan that can make its value questionable. You should almost never go from a fixed interest rate mortgage to a variable rate mortgage, because the variable-rate mortgage could end up being worse over time than the original.
- Loan Modification: Loan modification, if it works out, could be a great way to help yousave your home or save your car. A loan modification is exactly what it sounds like: a modification on the terms of your loan. The only difficulty is that a lot of lenders are not thrilled about the idea of modifying the terms of a loan. Our Georgia loan modification attorneys have a wealth of experience handling debt negotiations, working with creditors to modify the terms of our clients’ loans. A word about loan modification, though: Be careful about giving your money to loan modification companies that promise specific results. Onlyyour lender can authorize alterations on your loan.