Florida Foreclosure Options

Florida Foreclosure Options with Mortgage Modifications: Save Your Home or Credit

Long Term Florida Foreclosure Options: Mortgage Modification

In the process of foreclosure in Florida homeowners need to consider and decide on their options for long-term homeownership. Our Florida foreclosure attorney’s can help you stop Florida foreclosure but the long-term ownership details must be greatly considered. Many homeowners are unaware of their options after foreclosure, leaving them blinded for what may be to come. Working with our Florida foreclosure attorney’s will uncover the factors such as: whether you should stay in your home; if you deserve unemployment or disabled benefits; are you retired; do you have other mounting debts and obligations; do you have equity in your home; are you underwater; or are you a candidate for a mortgage modification?

Florida Mortgage Modification

Most Florida residents in foreclosure want to stay in their home. If this is your case, our Florida foreclosure attorney’s will assess if you are a candidate for a mortgage modification. Today, banks are frequently agreeing to mortgage modifications because – if the secret be known — they really don’t want to own your home and pay the pool guy, the lawn guy and the homeowner’s association in addition to your property taxes.

To be eligible for a Florida mortgage modification you will need:

  1. Hardship through a well written hardship letter and a finally impaired financial statement
  2. Continued income to show that you can afford the proposed new payments on the loan
  3. A significant decline in the value of your home
  4. Possess a loan amount that exceeds property value (meaning property value must have decreased so that there is no equity in the home)
  5. History of late payments on mortgage

Our Florida foreclosure lawyers will take the worry out of the foreclosure process. Please contact us today for more information on our foreclosure defense and mortgage modification options.