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West Palm Beach Loan Modifications

Loan modifications seem to be advertised everywhere these days by non-attorney businesses seeking to capitalize on homeowners in foreclosure. Abuses in this field as well as in the mortgage industry have been well documented and have made it difficult for homeowners to know who to trust. Whether you choose our firm or another reputable law firm it is advisable to seek the help of an attorney. Even with new government legislation it is difficult for homeowners to navigate the ever changing procedures and programs to obtain the help they need. All loan modifications are not created equal and some provide no real relief at all but only a temporary solution that can lead to foreclosure in the near future. Consult with an attorney to help negotiate your loan and defend any possible foreclosure.

There has been a constant media frenzy concerning the foreclosure crisis and the governments alleged attempt to help homeowners by introducing new legislation but homeowners find it difficult, if not impossible, to obtain a loan modification on their own and the foreclosure process usually continues making time in short supply during this process. Many homeowners have lost their homes while believing the mortgage company is helping them though their foreclosure. Do not rely on a customer service agent from a mortgage company to ensure your home is protected. You should seek professional advice immediately so that you know your rights.

The truth is that even with the new legislation those who know their rights and know the procedures will be more likely to negotiate a solution to their foreclosure. Lenders have always had programs to assist homeowners but the problem has been the amount of time it takes to obtain a loan modification and the continued action in court to foreclose on the property while these negotiations take place. You need a foreclosure defense attorney to defend the lawsuit while seeking a loan modification. Legislation and new procedures are always changing and one must stay on top of the process.

Typical loan modifications involve changing an adjustable interest rate and fixing it at a reasonable rate, lowering the interest rate, extending the term of the loan, and lowering the monthly payment. Principal reductions are more difficult but may still be possible depending on the specific case. These options do not require the homeowner to file for bankruptcy but if no agreement can be reached it may be possible to force the mortgage company to take late payments in a bankruptcy.

Do not rely on the media or new legislation stop the foreclosure. Seek the help of a competent and aggressive foreclosure defense attorney immediately when a problem arises. An attorney can assist you through the process and can help protect your rights.

Contact Tiller & Rivera Law P.A. today to discuss your rights. Take action today!

Free Consultations and Flexible Payment Plans are available at Tiller & Rivera Law P.A.
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