North Carolina Home Loan Modification – Modify Your Mortgage in North Carolina

Free Loan Modification Consultation

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The situation of foreclosed homes in North Carolina became critical for years. The banks approved many mortgages without going through stringent verification process and everyone can buy the house of their dreams and drive expensive cars. Although this daring action make the banks experienced increase performance and flourish economy for a while, still they cannot avoid the problems that started when the debtors were unable to make the payments for the monthly rates anymore. This is because the clients they approved for a loan either have financial instability, or have financial problems.

As a result, people who are unable to pay anymore choose to default on their loan and to recover the money invested, the banks have to seize control of the properties and go for a foreclosure process. The bank put the foreclosed properties in auction; unfortunately, there are no buyers even if the price is cheaper. As a result, selling is difficult and they cannot recover the money invested. Remember that in a banking system, money is needed to function properly, without it, expect a crisis in the financial institutions.

Every foreclosure is a loss both for the creditor and debtor. To oppose the increasing problem, the government enforced law that prevents seizing of the properties and supports the modification of the loan with the cooperation between the two sides, mortgagees and mortgagors. The terms and agreement can be modified to the ones that is affordable for the borrower. Loan modification was implemented last February 18,2009 in North Carolina.

For a person to be qualified for a loan modification, he/she must be able to prove that his/her monthly income decreased in comparison to his/her income when he/she signed the initial contract. This income is insufficient to keep up with the monthly payments anymore. Evidences like monthly utility bills, pay checks and other papers showing your daily expenses can be good proofs of your bad financial condition. If you present these evidences to the bank, you are doing little things that will free them from researching and you create an easy collaboration with them. With these simple efforts, great offers may come.

The modifications given to the loan contract may be in the form of its length, the monthly payments that can be flexible or fixed, or the interest rate. As a precaution, read carefully and thoroughly the documents presented to you before actually signing it. Do this if you want to avoid the hassles and stress of starting all over again. For a better and quick result, consulting to lawyer can help if you have the budget for it.

Thanks to the modification program, the situation of real estate in North Carolina improved a lot. The normal trend before this great setback is returning again and most people are applying again for mortgages, because there is the law that eliminates the high risk of getting your home foreclosed.

North Carolina Mortgage Companies

AMERICAN HOME MORTGAGE CORP
6230 FAIRVIEW RD STE 430
CHARLOTTE, NC 28210
Tel: (704) 364-7950
Fax: (704) 714-5150
Charlotte, NC Mortgage & Property Information

10735 DAVID TAYLOR DR # 310
CHARLOTTE, NC 28262
Tel: (704) 595-7188
Fax: (704) 717-0766
Charlotte, NC Mortgage & Property Information

2100 COMMONWEALTH AVE
CHARLOTTE, NC 28205
Tel: (704) 358-9238
Fax: (704) 374-9061
Charlotte, NC Mortgage & Property Information

1005 SLATER RD
DURHAM, NC 27703
Tel: (919) 941-5038
Fax: (919) 474-2439
Durham, NC Mortgage & Property Information

1638 SKIBO RD
FAYETTEVILLE, NC 28303
Tel: (910) 487-7110
Fax: (910) 888-9603
Fayetteville, NC Mortgage & Property Information

2448 S. PX DRIVE
FORT BRAGG, NC 28310
Tel: (910) 487-8201
Fax: (910) 435-1876

200 N MAIN ST FL 1
GRAHAM, NC 27253
Tel: (336) 226-1686
Fax: (336) 228-1687
Graham, NC Mortgage & Property Information

1400 YANCEYVILLE ST
GREENSBORO, NC 27405
Tel: (336) 370-1286
Fax: (336) 379-3507
Greensboro, NC Mortgage & Property Information

6801 FALLS OF NEUSE RD STE 110
RALEIGH, NC 27615
Tel: (919) 327-1700
Fax: (919) 781-3208
Raleigh, NC Mortgage & Property Information

2250 SILAS CREEK PKWY
WINSTON SALEM, NC 27103
Tel: (800) 951-8000
Fax: (336) 748-4827
Winston Salem, NC Mortgage & Property Information

North Carolina Legal Services

Legal Aid of North Carolina- Mortgage Foreclosure Project

Assistance: Foreclosure
Location: Statewide
Website: www.legalaidnc.org
Phone: 919-856-2564
Services: Legal Aid of North Carolina (LANC) is a statewide, nonprofit 501(c)3 law firm that provides free legal services in civil matters to low-income people in order to ensure equal access to justice and to remove legal barriers to economic opportunity. LANC operates in all 100 counties in North Carolina through 24 geographically based offices. The goal of LANC’s Mortgage Foreclosure Project (MFP) is to keep working poor and working families in possession of their homes and their equity.

Legal Services of South Piedmont

Assistance: Foreclosure
Location: Charlotte
Website: http://www.lssp.org
Phone: 704-376-1600
Services: The Legal Services of South Piedmont (LSSP) provides a wide range of civil legal assistance to eligible low-income persons in the Charlotte metropolitan area and west-central North Carolina. LSSP accomplishes its mission through a variety of legal advocacy strategies. LSSP represents individuals in foreclosure and predatory lending cases.

North Carolina Justice Center

Assistance: Housing
Location: Raleigh
Website: http://www.ncjustice.org
Phone: 919-856-2570
Services: Provides legal assistance to low-income North Carolinians in carefully selected, high-impact cases that are designed to help alleviate poverty by protecting or expanding important rights for large numbers of vulnerable people, including housing issues.

Avoid Mortgage Scams North Carolina

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)