What To Expect From Trump As Far As My Mortgage Modification Goes

In the days after the Presidential election, many Americans became worried about their money. A Trump Presidency presents many unknowns, and when those unknowns have to deal with your ability to support your family, it is natural to become concerned. We have grown accustomed to the things put in place by the Obama administration, but some of the most beneficial programs may be put at risk when Donald Trump enters the Oval Office.

One program that was helpful to many homeowners, HAMP, came to an end in 2016. And here is what many think President Trump will have to offer in its place:

•         Deregulation of some financial markets, in an effort to make mortgage financing more affordable to more Americans.

•         Making home ownership easier to attain for first time homebuyers.

•         Ensuring there is an adequate supply of affordable homes to those that are interested in becoming a homeowner.

The end result remains to be seen, but we are all hopeful that President Trump can make good on his promise to “Make America Great Again”. This could come in the form of changing the current tax brackets, by decreasing the amount of taxes paid by lower income earners while increasing what the wealthy pay, or some other new tax scheme. There is also the chance that new businesses will reenter the American market, creating jobs and stimulating the economy. All of these things would be helpful to the American population, and could help stabilize the housing market. But in the meantime, and while we are all holding our breath to see what happens, if you need financial help now, call our office. We will let you know what options remain, and what we can do for you. Whether you need to refinance, ask for a mortgage loan modification, consolidate debt, or file for bankruptcy, we can help. Our team of experienced legal professionals has experience in all of these areas of financial need, and wants to help you find a solution today.

For more information about what you can do to save your house, call us today or reach us online at www.law-ri.com. We have multiple locations to serve you and can schedule a time to meet at the office most convenient for you.