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Do mortgage lenders forgive debt?

Mortgage lenders are in the business of trying to maximize the value of their assets and as part of that they will give up interests, they will give up monies that are owed, they will make deals in order to have the properties that they own be productive for them by having people living in their houses and paying a monthly rent. Part of that means that they may have to give up some of the principle of the loan and they have to reduce the interest rate. Yes they are willing to do that and the objective is to try to have in homes that are paying the mortgage, rather than have a lot of toxic mortgages floating around. I'm Carl Person a New York lawyer and a fighter to keep people in their homes.

tags: loan modification debt forgiveness mortgage foreclosure defense debt relief predatory lending foreclosure bankruptcy lawyer law firm attorney Brooklyn Bronx Staten Island Manhattan Queens New York Carl E. Person Carl-Person-Foreclosure-Defense

attorney: Carl E. Person