Rhode Island Loan Forbearance Lawyer
Debt Relief Attorney in Providence and Attleboro
A loan forbearance is a debt relief solution that allows a borrower to delay future payments for a set period of time, normally three to six months. Normally if a homeowner is having difficulty paying their mortgage due to a short term financial situation, such as a job loss, injury or divorce, a loan forbearance can be requested in order for the borrower to get back on their feet financially and be able to resume their payments after the allotted time. The lender does not forgive the debt, but allows you to pay what you owe at a later date. To find out if this option is the right one for you, contact our Massachusetts and Rhode Island Loan Mediation Attorney at BK Law Group PC.
Although a loan forbearance can be helpful, it is only a short term solution. If you expect your financial situation to improve in the near future, this is likely the best solution for you. However, if you have serious financial issues that are not likely to resolve soon, such as unemployment or the death of the main breadwinner in the family, other options to discuss could involve bankruptcy or a loan modification.
Consult with Attorney Gail Balser of the BK Law Group, PC
If you are facing a pending foreclosure proceeding because you have been unable to keep up with your mortgage payments, considering a forbearance can assist in stopping the foreclosure for several months to allow you to get caught up on past due amounts. With the assistance of the Law Office of Gail Balser, you will have the opportunity to prevent a foreclosure and save your home. Our attorney will aggressively negotiate with your lender to get a forbearance agreement that will benefit you and allow you to recover financially.
A Short Sale might be a viable alternative to a foreclosure. Contact our Massachusetts and Rhode Island Loan Mediation Attorney to discuss your legal and financial options.