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Beware: Home Loan Modifications in Phoenix, Arizona

The Phoenix, Scottsdale, and other surrounding areas are full of people who owe much more than their houses are worth. Many homeowners in the Phoenix area are signing up for home loan modifications as a way to reduce the payments on their house or make up for previous payments that have not been made on their mortgage. Under the guise of working with you, the banks state that they will give you a "trial" loan modification. I am writing this article to warn you that there are dangers in this trial loan modification that you likely don’t realize when you sign up. In summary, even though you make your trial loan modification payments and jump through all of the hoops that the bank wants, you can still be denied a permanent home loan modification. Then, the banks will turn around and make a demand that you catch up on the difference between what you would have paid without the trial loan modification and what you actually paid during the trial period. Often times, my clients are sent a letter that states they have to come up with many thousands of dollars within a relatively short period of time or else their house will be foreclosed (also called a trustee sale in Arizona).

If the above happens to you and you want to save your house, call a bankruptcy attorney immediately. Depending on your situation and if you qualify for a Chapter 13 bankruptcy, you may not have to pay that amount off immediately in order to stay in your home.

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Call our Phoenix bankruptcy and foreclosure defense attorneys at 480-845-0145 or send us an e-mail, and we will respond promptly. We look forward to meeting with you.



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Office Locations

Phoenix Office
Wright Law Offices
668 N. 44th St., Ste 320
Phoenix AZ 85008

Telephone: 602-456-6085 / 866-703-3287
Phoenix Law Office

Scottsdale Office
Wright Law Offices
7135 East Camelback Road, Ste 230
Scottsdale AZ 85251

Telephone: 480-845-0145 / 866-703-3287
Scottsdale Law Office

Tempe Office
Wright Law Offices
2238 S. McClintock Dr.
Tempe AZ 85258

Telephone: 480-845-0145 / 866-703-3287
Tempe Law Office

Avondale Office
Wright Law Offices
12725 W Indian School Rd, Suite E-101
Avondale AZ 85392

Telephone: 623-258-4480 / 866-703-3287
Avondale Law Office

Prescott Office
Wright Law Offices
1129 Iron Springs Rd
Prescott AZ 86305

Telephone: 623-258-4480 / 866-703-3287
Prescott Law Office

Mesa Office
Wright Law Offices

1731 W. Baseline Rd.
Suite #100
Mesa, AZ 85202
Telephone: 480-845-0145 / 866-703-3287
Mesa Law Office

Glendale Office
Wright Law Offices
20325 N. 51st Ave., Suite 134
Glendale, AZ 85308
Telephone: 623-258-4480 / 866-703-3287
Glendale Law OFfice

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