Our Tampa Seclosure Silosor Advocate may be able to convince your lender to change your mortgage to eliminate late fees, reduce monthly payment, extend the time you have to pay back, lower your interest rate, and even reduce the main balance of your mortgage. As experienced mortgage modification lawyers, we understand how to talk to lenders, get their attention and force them to negotiate fairly with us. Our aggressive approach to mortgage companies has allowed our clients to avoid foreclosures and retain ownership of their homes. Our tampas with defense attorneys can help homeowners change their mortgage, whether they are monthly, late or even up-to-date with their mortgage. Our legal team understands the credit change process. We oppose mortgage lenders and mortgage service providers for requiring them to treat you fairly in the process of restructuring your loan by amending. The credit change is designed to reduce your monthly mortgage payment so that you can resume payments to the lender in order to avoid enforcement and keep your home. In some cases, a lender may add outstanding payments at the end of the mortgage and extend the term of the mortgage. In other cases, a lender may “forgive” past default payments in order to keep your credit payment low and affordable. A loan modification contract is different from a leniency agreement or refinancing. Through a leniency agreement, the lender agrees to temporarily suspend mortgage payments or temporarily reduce mortgage payments due to a difficult financial situation.
Leniency agreements do not change the terms of the loan and are only good if the financial difficulties are short-term, and you can recover quickly after the crisis. Mortgage refinancing is a brand new loan and a mortgage. You must apply to a lender for a new loan that prepays your existing mortgage. If you are approved for refinancing, the new loan proceeds will be used to pay off the entire current loan. The new mortgage will then be the first pledge on your property. In many cases, if you are withdrawing on your mortgage payments or if a lawsuit has been filed, refinancing your existing mortgage may not be a possible solution. As a result, a lender may accept a credit modification contract, even if you are not yet late in your mortgage payments or if no enforcement action has been filed. By accepting the credit change, the lender will not have to pay a lawyer, real estate agent, management company and other professionals to take your home and sell it by foreclosure. Yes, a change in credit can reduce your mortgage payment. The credit change can also eliminate legal fees, reduce your interest rate, lengthen repayment time and reduce the balance of the loan. However, in certain circumstances, the change in the mortgage payment is greater than the initial payment.
However, the credit change process in Florida is not always easy. You need a Daytona real estate lawyer to help you negotiate the terms of the credit change so that you reach your goal of keeping your home and preventing foreclosures.