Florida Foreclosure Options: Loan Modification
Florida Foreclosure Options with Mortgage Modifications: Save Your Home or Credit
Long Term Florida Foreclosure Options: Mortgage Modification
If you are facing foreclosure, you may need to determine your options for long-term homeownership. Our Florida foreclosure attorneys can help you stop the foreclosure process, but the details and implications of long-term ownership must be greatly considered. Working together with our Florida foreclosure attorneys, you will consider factors such as: whether you should stay in your home; if you qualify for 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 facing foreclosure want to stay in their home. If this is your case, our Florida foreclosure attorneys will assess if you are a candidate for a mortgage modification. Today, banks are frequently agreeing to mortgage modifications because – 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 to prove:
- Hardship through a well-written hardship letter and a financial statement showing hardship
- Continued income to show that you can afford the proposed new payments on the loan
- A significant decline in the value of your home
- The loan amount exceeds property value (meaning property value must have decreased so that there is no equity in the home)
- History of late payments on mortgage
Our Florida foreclosure attorneys will take the worry out of the foreclosure process. Please contact us online or call 954-384-6114 for more information regarding your foreclosure defense and mortgage modification options.