Home / Loan Modification Florida
The plan’s goal is to help the borrower reduce their monthly mortgage payments to 31% of their gross income. Under Obama’s plan, loan modifications will be standardized, with uniform loan modification guidelines used by Fannie and Freddie Mac, and then they will be implemented throughout the entire mortgage industry. For an up-to-date overview of modification and short sale programs currenty available, please visit an article I recently posted titled “Loss Mitigation Programs Overview,” or call 888-886-0020 for a free consultation with a Florida Loan Modification attorney.
Loan modification benefits include (1) relatively minimal risk of damage to the borrower’s credit, (2) alternative to foreclosure, (3) loan modifications do not affect the neighborhood home values, (4) no legal proceedings, and (5) families get to remain in their homes and neighborhoods.
Call 888-886-0020 for a free consultation with a Florida Loan Modification attorney.
The problem lies with servicers of loans. Most people don’t realize this, but when you buy a loan product, there are two parts: the servicing rights, or the company who collects the payments on the loan, and the actual owner of the loan. Given that many mortgages are in securitized mortgage pools, there may not be an actual owner of your note, but many investors who own a part of the mortgage pool. Servicers receive lucrative fees for collecting your payments, handling your paperwork and tracking your payments. Apparently, they too have an incentive to avoid working out problems with borrowers: higher fees. Call 888-886-0020 for a free consultation with a Florida Loan Modification attorney.
My office offers complimentary reviews of these agreements and I encourage you to contact us with any questions. Call 888-886-0020 for a free consultation with a Florida Loan Modification attorney.
Loan modifications were created in order to offer the struggling home owner another option in dealing with the possibility of foreclosure. They are permanent changes in one or more of the terms of your loan. The most common changes include lowering the interest rate and payment, extending the number of years, adding arrears to the balance, and on very rare occasion, reducing the principal loan balance. However, as with most things that were created to help people, there are those self-serving, greedy individuals that prey on struggling home owners in the guise of being the savior for their home. Call 888-886-0020 for a free consultation with a Florida Loan Modification attorney.
The best way to avoid “getting taken” is to perform proper due diligence before you pay fees to anyone for any service. There are a few easy steps you can take to decrease the possibility of feeling cheated in a loan modification service. First, make sure the company is a properly licensed law firm. Next, beware of services that guarantee a particular result. Finally, an important thing to remember is that as of October 2008, any non-attorney Florida business involved in Loan Modification may not charge you a fee up front; they may only collect their fee after the services have been provided. See Florida Statutes Section 501.1377. This means that if the company is offering you any type of Loan Modification assistance, they cannot collect any fees up front unless the company is a licensed law firm. Call 888-886-0020 for a free consultation with a Florida Loan Modification attorney.
A loan modification is much like going to court: you can save your money and get a court-appointed lawyer, or you can invest in professional representation and get the best loan modification help. Mortgage modification won’t happen overnight, but if with a capable attorney, you can be sure you’re in good hands. The Law Office of Emil Fleysher, P.A. helps South Floridians just like you living in and near Miami, Ft. Lauderdale, and West Palm Beach obtain loan modifications that can help you stay in your home and avoid foreclosure. Call 888-886-0020 for a free consultation with a Florida Loan Modification attorney.
Call 888-886-0020 to schedule a free consultation with Mr. Fleysher. You may also use the following form to send an email with your contact information and your questions. If you do not have an email address, please leave your phone number. Mr. Fleysher will personally respond to your questions within 24 hours.
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