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 not eligible for a loan modification.
It is important for you to understand that there is almost no situation where a person who is facing foreclosure would not be eligible for a loan modification. If your lender is attempting to avoid reworking your loan, do not accept the denial as the final word in the matter. You have the right to fight back and protect your legal right to save your home.
Take action to protect your rights and save your home.
These can be complex legal matters, and the assistance of an lawyer can be extremely helpful. Florida lawyers who dedicate their practices to bankruptcy and related topics understand the tactics lenders use to protect their own interests at the expense of the homeowners. By choosing the right legal representation from the outset, you give yourself the best chance of obtaining a fair loan modification and saving your home.
Come back next time when we will discuss the importance of having a qualified lawyer handling your foreclosure and the potential consequences when the proper steps are not taken.