Tag Archives: loan modification
Will your lender truly help you with your loan modification?
The threat of foreclosure is unsettling. Unfortunately, if your family has fallen on hard times, it can be difficult to meet your monthly obligations. You are not alone. Over 63,000 Florida homes were repossessed by the banks in 2016. This was the highest number of repossessions in the nation. In an attempt to save… Read More »
An alarming number of South Florida homeowners still face foreclosure. What can you do to make sure you are not one of them?
Recent information indicates that, through October of 2016, approximately 1 in every 830 homeowners in Miami-Dade County was facing foreclosure. In Broward County, it’s about 1 in every 620. If you are struggling to keep up with your mortgage payments, you don’t have to become one of these statistics. There are a number of… Read More »
Don’t get scammed by a phony loan modification provider
People who are facing foreclosure will do almost anything to save their homes. Sadly, there are numerous companies that prey on distressed homeowners and happily to take their money under the guise of helping them resolve their mortgage problems. It is important for you to understand that a vast majority of these companies have… Read More »
How will a foreclosure impact my credit?
When people are struggling to keep up with their house payments, it doesn’t take long for the mortgage company to start threatening foreclosure. One of the first questions people ask is what is going to happen to their credit rating. This is an important question, but there may be larger questions you should be… Read More »
What if I am underwater on my mortgage? Shouldn’t I just walk away?
While the values of many Florida homes have recovered since the real estate crash, several homeowners still find themselves in a situation where they owe more on the mortgage than the property is worth. As recently as a few years ago, many homeowners simply walked away and allowed the bank to foreclose; a practice… Read More »
The bank says I’m not eligible for a loan modification. Now what?
In the previous post in this series, we discussed your right under Florida law to attempt to modify your loan as a way to avoid foreclosure and save your home. There have been numerous cases, however, where lenders will attempt to keep the terms of the current loan by telling you that you are… Read More »
Is a loan modification right for me?
Loan modification is becoming an increasingly popular method of saving a home from foreclosure. This is especially true in Florida, where state law now requires lenders to rework loans with terms that are more manageable for the homeowners who are at risk of foreclosure. Nevertheless, lenders are in the business of making money, and… Read More »