Full Video Transcript
If you're struggling to make your mortgage payments but have been scraping by and haven't yet defaulted on your loan, you may be wondering whether or not you should stop making payments in order to get your lender's attention. There's a lot of information out there today both good and bad, telling homeowners they only qualify for help if they're already behind on their payments. However, this isn't true. If you're having trouble, your lender will probably want to work with you to make sure you continue making payments. Don't stop making payments if you can help it. It will save your credit score. Contact an attorney to help you negotiate with your lender. An attorney will not only be able to assess your situation but will know how to get the lender's attention. Unlike nonattorneys who offer loan modification or debt negotiation services, attorneys have the professional expertise and the fiduciary duty to advise you have the full range of legal options and what might be best for your situation.