New Mexico Home Loan Modification – Modify Your Mortgage in New Mexico

Free Loan Modification Consultation

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New Mexico is currently experiencing an increased number of foreclosed homes daily, because more and more people are failing to make their monthly payments. Aside from that, the real estate market is confronting a big lack of potential buyers making it very hard for the banks to sell the seized properties. Since the bank cannot obtain any money from the seized houses, the foreclosure process became an unfeasible option for the creditors to gain profits; they tend to cooperate with the people having bad credits. Forunately, a new law was approved that allows loan modification and supports the collaboration between the mortgagee and mortgagor.

Many people consider applying for a mortgage, but the fact that foreclosure is too rampant makes their decision to apply for one extremely hard. Banks feared foreclosure too, just like you, because it is a dead end in their attempt to recover the money invested at the start of the mortgage. If the debtor applies for a loan modification, this foreclosure process can be avoided. The mortgagors are first informed in the beginning of the contract; they should be able to ask for the revision of the terms after a certain time, which is one year for most of the banks and lenders. For your part, you have to present evidences or the reasons why you suffer financial collapse. The reasons can differ, depending on your case.

Failing to pay your monthly rates because of external factors needs a meeting with the representative from the bank. If your reason to fail is because of your incapacity to manage your budget or the irresponsible spending of your money, you will be deemed unworthy and there is no chance for you to receive another loan agreement. The bank will either modify your initial agreement or create a new one, which is dependent on your needs and current financial status. A loan modification is in fact continuity of your defaulted loan. Cooperate with your lender, because this will be advantageous for both of you. If you need professional help, there are many law firms that are specialized in handling these kinds of issues.

Several homes had been saved from the foreclosure since its date of implementation (February 2009). There is no need for you to deal with high rates and interest. If you reside in New Mexico, applying for a loan modification is the best way to get rid of the monthly pressure!

New Mexico Mortgage Companies

A D S Mortgage Corp: Offices

New Mexico
3809 ATRISCO DR NW SUITE A
ALBUQUERQUE, NM 87120
Tel: (505) 299-2373
Albuquerque, NM Mortgage & Property Information

BANK OF AMERICA NA CHARLOTTE

New Mexico
6605 UPTOWN BLVD NE STE 140
ALBUQUERQUE, NM 87110
Tel: (505) 282-5448
Fax: (904) 596-5842
Albuquerque, NM Mortgage & Property Information

Bsm Financial Lp

New Mexico
2444 JUAN TABO BLVD NE STE 3
ALBUQUERQUE, NM 87112
Tel: (505) 292-4257
Fax: (505) 291-9633
Albuquerque, NM Mortgage & Property Information

Countrywide Home Loans Inc

New Mexico
6500 JEFFERSON ST NE STE 200
ALBUQUERQUE, NM 87109
Tel: (505) 816-1740
Fax: (505) 237-1418
Albuquerque, NM
Mortgage & Property Information

10200 CORRALES RD NW STE D2
ALBUQUERQUE, NM 87114
Tel: (505) 897-1030
Fax: (505) 897-1169
Albuquerque, NM
Mortgage & Property Information

2400 LOUISANA BLVD. NE, # 160
ALBUQUERQUE, NM 87110
Tel: (505) 830-7000
Fax: (505) 888-0141
Albuquerque, NM
Mortgage & Property Information

New Mexico Legal Services

New Mexico Legal Aid

Assistance: Foreclosure
Location: Albuquerque, Clovis, Gallup, Las Cruces, Las Vegas and Roswell
Website: http://www.nmlegalaid.org/
Phone: 505-243-7871
Services: New Mexico Legal Aid represents individuals in foreclosure cases.

Avoid Mortgage Scams New Mexico

Attention homeowners: If you think you have been a victim of a scam, or approached by a scammer, report it to the Loan Modification Scam Prevention Network now! Your complaint could provide vital information that will help put loan modification scammers out of business.

Call 1-888-995-HOPE (With your permission, the complaint will automatically be shared with federal, state and local law enforcement)

How Do I Know if I Am a Victim of a Scam?

The easiest way to determine if you are a victim of a loan modification scam or have been approached by a potential scammer is just to ask yourself two simple questions:

  1. Did anyone offer to help modify your mortgage, either directly, through advertising, or by other means, such as a flyer?
  2. Were you guaranteed a loan modification or asked to do to any of the following: pay a fee, sign a contract, redirect mortgage payments, sign over title to your property, or stop making loan payments?

If the answer to either question is “yes,” report the potential scam now by calling 1-888-995-HOPE or by filling out the simple online complaint form.