Leon Law Firm, (214) 696-0021

There are a few different terms of the mortgage that can be changed:

1. You can request that the interest rate be lowered during the term. This can reduce the amount of interest that you pay for your loan and lower your monthly payment. This is helpful if you have a high interest or adjustable rate mortgage (ARM) loan.

2. You can request that the principal of the loan be reduced. This is usually requested where the value of the home has decreased such that a borrower owes more than the home is worth.

There are other modifications, including changing the loan’s length.

If you would like to discuss this with our firm, please call us at (214) 696-0021, or click below to instant chat with us.

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