Law Office of David Hernandez
Bankruptcy Services in the Chicago and Suburban Areas
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Loan Modification | Save your Home
Save your castle
Life is complicated and full of challenges. At various times in life, through no fault of your own, fall behind on your mortgage payments.
You have a variety of options which can help.
Banks have some flexibility if you've fallen behind. Foreclosures are lengthy, expensive and risky for a bank. They're in the business of making money, not selling property.
If you haven't already, give them a call. They may work with you to resolve your matter directly. If that didn't work, let us help.
After attempts to modify a loan have failed, perhaps ending a foreclosure or eliminating late payments with a Chapter 13 bankruptcy may be the right solution for you. In a Chapter-13 bankruptcy, your late payments can be paid back, interest free, over a three to five year period. If you have significant equity in your home that you may lose in a foreclosure, we can preserve that house equity even if you can't or don't want to make monthly Chapter - 13 payments. Give us a call and let's find a solution for you.
Also, in a Chapter 13, the court does have a court mediated program to apply for a loan modification through the court. This loan modification program is new as of 2022 and we can walk you through it. See more details here.