Mortgage modification continues to elude Floridian homeowners desperate to stay in their homes.
While banks will foreclose on your home quickly, it's up to your to stop them before it gets to that point. As soon as you suffer a financial catastrophe and realize you won't be able to afford your mortgage, you need to act. Call your lender and see if they are willing to work something out with you.
If not, it's time to look for some help, such as a foreclosure lawyer. Don't let the title scare you, though. A foreclosure lawyer also has expertise in heading off foreclosure.
Whatever you do, don't do anything stupid.
Scammers have pounced on Floridians, who are just seeking solutions to their problems. The Federal Trade Commission recently obtained a settlement in federal court that banned three men and their company from doing mortgage modifications and ordered them to make consumer refunds of nearly $19 million.
The defendants allegedly used phony claims to deceive distressed homeowners into thinking they could negotiate with lenders to make their mortgages more affordable. But under the settlement, there was no admission of guilt.
Make sure you are hiring someone reputable by checking with the Better Business Bureau and the Florida Division of Consumer Services. The Florida Bar also is a good place to find proper representation.
There are legitimate mortgage modification programs and, in some cases, the bank will deal with you directly in modifying your loan. It would be prudent for you to have your own legal representation from a Daytona Beach foreclosure lawyer.
One program is the Home Affordable Modification Program (HAMP), which was created by the federal government to help an estimated 5 million households in the U.S. The program offers a low fixed rate, better terms and smaller monthly payments. But applying for the program is a monumental task that requires some expertise.
You may remember the stack of documents the closing agent went through when you closed on the loan to buy your house. The stack of documents needed for programs like HAMP are just as high.
While it may seem impossible to get a mortgage modification, it can be done. It just takes patients and the proper representation to guide you through the process. The end result is that you get to stay in your home, and that will make it all worth it.
Mara & Mara Attorneys at Law is a Daytona Beach-based law firm that provides representation for many areas of civil law. The firm can provide a Daytona Beach foreclosure attorney to help resolve your situation.
While banks will foreclose on your home quickly, it's up to your to stop them before it gets to that point. As soon as you suffer a financial catastrophe and realize you won't be able to afford your mortgage, you need to act. Call your lender and see if they are willing to work something out with you.
If not, it's time to look for some help, such as a foreclosure lawyer. Don't let the title scare you, though. A foreclosure lawyer also has expertise in heading off foreclosure.
Whatever you do, don't do anything stupid.
Scammers have pounced on Floridians, who are just seeking solutions to their problems. The Federal Trade Commission recently obtained a settlement in federal court that banned three men and their company from doing mortgage modifications and ordered them to make consumer refunds of nearly $19 million.
The defendants allegedly used phony claims to deceive distressed homeowners into thinking they could negotiate with lenders to make their mortgages more affordable. But under the settlement, there was no admission of guilt.
Make sure you are hiring someone reputable by checking with the Better Business Bureau and the Florida Division of Consumer Services. The Florida Bar also is a good place to find proper representation.
There are legitimate mortgage modification programs and, in some cases, the bank will deal with you directly in modifying your loan. It would be prudent for you to have your own legal representation from a Daytona Beach foreclosure lawyer.
One program is the Home Affordable Modification Program (HAMP), which was created by the federal government to help an estimated 5 million households in the U.S. The program offers a low fixed rate, better terms and smaller monthly payments. But applying for the program is a monumental task that requires some expertise.
You may remember the stack of documents the closing agent went through when you closed on the loan to buy your house. The stack of documents needed for programs like HAMP are just as high.
While it may seem impossible to get a mortgage modification, it can be done. It just takes patients and the proper representation to guide you through the process. The end result is that you get to stay in your home, and that will make it all worth it.
Mara & Mara Attorneys at Law is a Daytona Beach-based law firm that provides representation for many areas of civil law. The firm can provide a Daytona Beach foreclosure attorney to help resolve your situation.