SOURCE: American Residential Law Group

American Residential Law Group

February 23, 2010 06:00 ET

American Residential Law Group Recommends Home Loan Modification Over Refinancing Programs for Homeowners

American Residential Law Group Puts Its Weight Behind Mortgage Loan Modification, Rather Than Attempting to Refinance With a Secondary Mortgage Lender

FORT LAUDERDALE, FL--(Marketwire - February 23, 2010) -  American Residential Law Group, a dedicated part of the Floridian community in Fort Lauderdale, recommends that consumers behind on mortgage payments or in danger of defaulting on their loan consider home loan modification, rather than attempting to find a refinancing option.

While homeownership might be the American dream, attaining that dream has become increasingly difficult. The ongoing financial instability and global economic woes are doing nothing to rectify the situation; more consumers find they have fallen behind on their mortgage payments and are in danger of foreclosure.

Refinancing through a second lender has been the traditional answer to this conundrum. Generally, this has resulted in lower interest rates and more affordable loan payments. However, this picture has changed drastically in recent times, due to the harsh reality of the economic meltdown's impact on the lending industry. It is now harder than ever before to refinance a home, particularly if the mortgage holder is in dire financial straits.

American Residential Law Group recommends that any homeowner avoid the refinancing process and opt for mortgage loan modification instead. Bank loan modification offers significant advantages to both homeowners and lenders. Homeowners are able to benefit from reduced interest rates, as well as restructured loan terms if warranted. Lenders are able to avoid the expense of foreclosure and the daunting prospect of selling a home in a saturated, depressed housing market.

Home loan modification ensures that homeowners are able to remain within their home without the extreme damage to their credit report that a foreclosure produces. Modification of an existing loan can benefit all involved parties.

To learn more about loan modifications and how American Residential Law Group can help you, visit them at http://www.ARLGNow.com.

About American Residential Law Group: American Residential Law Group is a law firm that provides all legal assistance and benefits to which consumers are entitled under the law. With a considerable background in all areas of consumer advocacy, American Residential Law Group is dedicated to providing integrity and excellence to all their clients.

Contact Information

  • Contact
    Name: American Residential Law Group
    Address: 6245 S Federal Hwy #401
    Fort Lauderdale, FL, 33308
    Phone: (877) 236-6576
    Web Address:http://www.ARLGNow.com