A loan modification is a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to be reinstated, and results in a payment the mortgagor can better afford.

While you may be able to achieve some level of success by dealing directly with your lender, you can save time, effort, and a great deal of stress by hiring a qualified attorney. Having legal representation is even more important when your lender is inaccessible or unwilling to work out a solution.

Most people don't hesitate to call a professional when they need to borrow money, purchase a house, create a living will, or even fix a leaky roof. While working directly with your lender's loss mitigation or loan modification department is certainly an option, it's not always the best choice.

Remember, banks and lenders tend to protect their own interests. They have a right earn a profit just like any other business, and they have expectations that the people who borrow from them will honor the terms of their agreement. As a result, some banks and lenders reject loan modification applications because they feel specific borrowers can afford to make their payments if they would just budget more carefully and make unpleasant or difficult to accept sacrifices. Or, in other cases, they negotiate a loan modification that makes your budget so tight that even one missed paycheck or one large automobile repair bill can put you right back into default where you started in the first place.

Nevada also has several programs in place to help struggling homeowners avoid Foreclosure.  These programs include principal reduction plans, loan modifications, a reduced monthly payment, short sale options and other such alternatives to avoid foreclosure.  Call Hardy Law Group and make an appointment to sit down with a licensed attorney to evaluate which option is best for you.

Hiring a qualified attorney, like Stephanie Rice with Hardy Law Group ensures you have someone looking out for your best interests.