954-384-6114

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:

  1. Hardship through a well-written hardship letter and a financial statement showing hardship
  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. The loan amount 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 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.