West Virginia Home Loan Modification – Modify Your Mortgage in West Virginia

Free Loan Modification Consultation

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Getting approved for a loan is already hard and requires a lot of time and effort but failing to pay is easy to do and often happens when you least expect it. Unfortunate events such as being fired from work, illness, divorce, or sudden death of a family member involved in the payment of the loan can contribute to a default. If you fail to pay your loan, the bank will begin a legal process and seize your properties so that they would be able to get back a part of the cash value that they invested in the mortgage.

If you default, your score will go down and you will be known as having bad credit in the records of lenders and banks in your area. It would be harder for you to apply for a loan again since they couldn’t trust that you would be able to pay. Furthermore, you wouldn’t be eligible for a zero down payment loan anymore. The banks are also affected when people default from their loans. The foreclosed properties are often hard to sell, especially during a recession when no one seems interested to buy or invest in a foreclosed property.

The foreclosure process affected both the bank or lender and the mortgagee in negative ways and because of this, the government enforced a new law which aims to reduce the number of loan defaults. This is the loan modification law which was approved on February 19, 2009.

A loan default is not the only option anymore when you are financially incapable of paying your mortgage. The first thing that you should do if you are planning to apply for a loan modification is to prepare all the evidences that you are indeed experiencing a financial difficulty such as your pay checks, bills, and other pertinent documents. Show this proof to your creditor so that they would be open for a re-negotiation of the terms of the agreement.

Your default will affect them in a bad way that is why they would be open to work things out with you. Read information on the internet and books before the appointment set by the bank. The banks also offer free counseling for people who want to apply for a loan modification. The entire process can take up to ten weeks, which depends on how things are settled with the bank.

Ever since the loan modification law took effect, the situation approved greatly in West Virginia. Avoid foreclosure and save your home through this new program.

West Virginia Mortgage Companies

Chase Bank
(304) 529-7483
4545 Fifth St Rd
Huntington, WV

Chase Bank
(304) 548-4157
119 North
Clendenin, WV

Chase Bank
(304) 733-7005
6327 Us Rte 60 E
Barboursville, WV

Fifth Third Bank
(304) 760-0233
Teays Valley, 3049 Mount Vernon Rd
Hurricane, WV

Eagle Nationwide Mortgage Company
414 11TH Street, Suite 102
Huntington, WV

Chase Bank
(304) 345-1358
613 Virginia St, E
Charleston, WV

Chase Bank
(304) 743-3723
500 Main St E
Milton, WV

Chase Bank
(304) 232-8713
1114 Chapline St
Wheeling, WV

Chase Bank
(304) 344-9892
1625 Washington St, E
Charleston, WV

West Virginia Legal Services

Legal Aid of West Virginia

Assistance: Housing
Location: Statewide
Website: http://www.lawv.net/
Phone: 866-255-4370
Services: Legal Aid of West Virginia (LAWV) is a law firm and advocacy organization. LAWV serves low-income people with civil (not criminal) legal matters.

Avoid Mortgage Scams West Virginia

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)