What is a Mortgage Modification?
Even when you do everything right, financial hardship can come out of nowhere and leave you struggling to hold your life together. Whether it’s unexpected medical bills, a sudden layoff, or some other economic setback, losing control over your finances can be terrifying for anyone. When problems are everywhere, and you can’t find any solutions, your fear can be paralyzing.
To make things worse, once you get behind on payments, your lenders start calling and threatening to take away your possessions, your car, or even your home. If you’ve missed a few payments and your lender is threatening you with foreclosure, a mortgage modification may seem like one of the best solutions.
Even if you manage to negotiate a lower monthly payment, the problem with this strategy is that you still have all your other bills to pay. Modifications don’t provide any solutions for the real issue: all of your other debt. Trying to solve your financial difficulties with a mortgage modification is like trying to heal a gaping wound with a bandaid.
While there are many so-called debt “solutions” out there, bankruptcy is the only one that wipes out ALL of your debts. Call or text DebtStoppers today at 678-673-2142 to schedule a free one-one debt analysis with one of our Georgia bankruptcy attorneys.
