West Palm Beach Foreclosure Attorney – Loan Modification
Mortgage Modification Attorney help to ease your debt burden & avoid foreclosure in West Palm Beach and throughout South Florida areas
Are you struggling to make your mortgage payments?
Are you worried that the bank will foreclose on your home?
The Law Offices of Kelley & Fulton can help. We offer loan modification and negotiation services for Florida homeowners struggling to keep their home. With the recent changes to foreclosure laws, it is imperative homeowners act fast to save their home from foreclosure. Unfortunately, lenders can expedite the foreclosure process, making it difficult for a homeowner to obtain a loan modification in time. But, with the right assistance, a loan modification can be completed and a homeowner could save their home.
Why a Loan Modification?
Loan modifications work similarly to refinancing, by changing the terms and loan payment so that a homeowner can afford their mortgage. Homeowners get a new payment amount, interest rate, and terms are modified to be more favorable. Most homeowners opt for a loan modification because they already have a history of late payments on their mortgage— making the option for refinance impossible.
Are You Eligible?
Not all homeowners are eligible for a loan modification and every loan servicer has their own specific requirements. However, some common eligibility requirements include:
- A documented hardship or documented change in financial situation — causing you to fall behind on your mortgage payments. This could include employment changes, unexpected medical illness or accident.
- Financial difficulty without filing for bankruptcy.
- You still own and occupy the residence you are requesting a loan modification for — you cannot request a loan modification on your rental property or vacation property (typically).
- You must have missed at least three consecutive payments or be 90 days or more delinquent on the loan.
Why Do You Need an Attorney?
While you could submit the papers and negotiate with your lender on your own, an attorney can often negotiate better terms and help prevent a foreclosure during the modification process. The process of loan modification is highly complex — and often overwhelming for homeowners facing foreclosure. The Law Offices of Kelley & Fulton help obtain the best terms, payment and outcome for your loan modification. We will work directly with your lender, handle the paperwork, and help you keep your home.
Contact us today for a no obligation consultation by dialing 561-491-1200.