Texas Home Loan Modification – Modify Your Mortgage in Texas

Free Loan Modification Consultation

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Any bank procedures are deemed not easy to handle. For this reason, many people choose to default on their loan instead of making appropriate actions to settle things with the bank. Rather than default on your loan, why don’t you apply for a loan modification program? With over 5,000 homes in Texas, loan modification is the ideal option for you to save your home from being foreclosed.

To obtain a loan, you will undergo stringent steps and verification processes in order to qualify for one. That is why several people opt to save money to buy a new house, rather than request for financial support from the bank. However, in order to increase the profit, lenders make the loans more accessible to everyone thinking that they will have more success and contracts that will be advantageous for them.

Unfortunately, that strategy backfires because the banks experienced numerous loan defaults; the defaults were almost proportional to the number of loans given by the banks without doing any proper verification process. The applications for zero down payment loans by the people that aren’t financial stable enough were also approved. These people started to fail to make the monthly payment and as a result, they default on their loans after a short span of time. Therefore, the bank wanted to recover the invested money for loans and intended the foreclosure processes to get the right town of the mortgage properties. But this situation repeated several times until the number of people who defaulted as well as the number of foreclosure processes overwhelmed the law courts.

Another problem that the banks are facing is the selling of the foreclosed properties. Right now, selling is very difficult because there are no potential buyers in the market. If they cannot sell, the bank cannot generate money to continue their operations and they are in great loss. In simple words, both parties involved in a mortgage contracts will suffer if the debtor defaults on his/her loan. A new law was released last February 18, 2009 that made the modification of loans possible. This is an alternative to foreclosure process that promotes continues collaboration between the borrowers and lender. Re-negotiation of a better loan contract is what this law is all about. All of the terms and conditions in the initial contract are subjected to modification to make things more accessible to those people encountering financial difficulties.

If you are previously in a mortgage contract and you are also closed to defaulting it, avoid the foreclosure process. That is why the loan modification program is enforced so that you will not be deprived in your own home.

Texas Mortgage Companies

Advantage Mortgage North
(512) 502-9682
6101 W Courtyard Dr Bldg 3
Austin, TX

All Homes Mortgage
(512) 302-4244
6010 Balcones Dr
Austin, TX

Alethes LLC
(512) 264-2115
20208 Auger Cove
Spicewood, TX

Westin Mortgage Group
409-861-1544
3350 N. Dowlen Suite F
Beaumont, TX

5mortgage Wise Lending
(713) 926-9700
5731 Gulf Fwy
Houston, TX

Alter Link Mortgage Inc.
(512) 977-9740
2121 W Parmer Ln
Austin, TX

Able Mortgage
(512) 302-5029
314 E Highland Mall Blvd
Austin, TX

A New Life Mortgage Co.
(972) 557-0102
10321 Trail Ave
Dallas, TX

Mortgage Pros, Inc.
512-680-9906
3520 Executive Center Dr. #250
Austin, TX

1st Abana Mortgage Corp.
(713) 645-7200
7227 South Loop E
Houston, TX

Texas Legal Services

Houston Volunteer Lawyers Program

Assistance: Consumer
Location: Houston
Website: http://www.hvlp.org
Phone: (713) 228-0732
Services: To qualify for legal services through the Houston Volunteer Lawyers Program, a homeowner must be a resident of Harris County. Generally the household income must be no greater than 175% of the federal poverty guidelines (FPG), with two exceptions.

Legal Aid of NorthWest Texas

Assistance: Foreclosure
Location: Serves north and west Texas, including the following major cities: Dallas, Fort Worth, Odessa, Midland, Lubbock, San Angelo, Abilene, and Wichita Falls.
Website: http://www.lanwt.org
Phone: (888) 529-5277
Services: Homeowners must make an appointment with their legal aid office prior to visiting the office. Legal Aid of NorthWest Texas accepts cases to prevent foreclosure on the homestead.

Lone Star Legal Aid

Assistance: Foreclosure
Location: Serves southeast and east Texas, including the following major cities:
Houston, Beaumont, Galveston, Texarkana, and Waco
Website: http://www.lonestarlegal.org
Phone: (800) 733-8394
Services: Lone Star Legal Aid provides free legal advice and representation to eligible clients in non-criminal cases across Southeast Texas. If homeowners need legal help in a non-criminal legal matter-or even if a homeowner just has a question or want general legal information-the homeowner has to apply.

Texas RioGrande Legal Aid

Assistance: Foreclosure
Location: Serves south-west Texas, including the following major cities: Austin, San Antonio, El Paso, Corpus Christi, Brownsville, McAllen, and Laredo
Website: http://www.trla.org
Phone: (888) 988-9996
Services: Texas RioGrande Legal Aid (TRLA) is a nonprofit organization that provides free legal services to the residents of Southwest Texas who are unable to afford the fees of attorneys in private practice.

Volunteer Legal Services of Central Texas

Assistance: Foreclosure
Location: Austin
Website: http://www.vlsoct.org
Phone: (512) 476-5550
Services: One way that Volunteer Legal Services of Central Texas helps low-income people with their civil legal problems is through their evening legal advice and intake clinics. In partnership with Texas RioGrande Legal Aid, they hold free legal advice clinics every Monday and Wednesday night (except on holidays or during school breaks) at local middle schools. Advice is given only on civil, not criminal, matters. Child care, Spanish translation, security, and free parking are provided.

Avoid Mortgage Scams Texas

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)