Loan Modification in Florida
If you can't afford your current mortgage payments or if your home is worth less than the value of your loan, you may be eligible for a mortgage modification. However, the lousy economy has brought out scam artists eager to take advantage of desperate homeowners, and loan modification scams are common. A Florida mortgage modification lawyer can help you safely modify your mortgage and work with you to recover your money if you've been the victim of a loan modification fraud.
The Basics of Modifying Your Mortgage in Florida
When you get a loan or mortgage modification, the lender is agreeing to change one or more aspects of your loan. Banks are granting these mortgage modifications in an effort to help homeowners avoid foreclosure.
With a mortgage modification, you can:
- Lower your monthly mortgage payments
- Reduce the interest rate on your mortgage
- Temporarily suspend your mortgage payments
- Reduce the amount of the loan's principal
Has your home's value dropped significantly? Has unemployment or a medical problem made it difficult for you to make your monthly mortgage payments? Are you locked into a loan with a high interest rate? Are you worried about losing your home to foreclosure? Whatever your situation, your Florida loan modification attorney can review your finances and the details of your mortgage, then guide you through the process of getting a loan modification.
Beware of Florida Loan Modification Scams
You've probably heard the saying, "If it sounds too good to be true, then it probably is." That truism certainly applies to loan modifications, too. Mortgage modification fraud and scams are abundant. The Federal Trade Commission and Miami-Dade County offers this warning, to avoid businesses that:
Guarantee to get you a loan modification or stop the foreclosure process - no matter what your circumstances. Tells you not to contact your lender, lawyer, or housing counselor. Claims that all or most of its customers get loan modifications or mortgage relief. Asks for an upfront fee before providing you with any services (unless it's a lawyer you've checked out thoroughly). Accepts payment only by cashier's check or wire transfer. Encourages you to lease your home so you can buy it back over time. Tells you to make your mortgage payments directly to it, rather than your lender. Tells you to transfer your property deed or title to it."
If you think you've been the victim of a mortgage modification scam, a Florida loan modification lawyer may be able to help you recover money you've lost and repair the damage.
Things to Consider When Hiring a Florida Loan Modification Lawyer
Before hiring a Florida mortgage modification attorney, make an appointment, known as an initial consultation. These brief meetings, which are usually free of charge, give you the opportunity to learn a bit more about the lawyer and his or her qualifications.
The initial consultation is also your opportunity to ask Florida loan modification attorneys a lot of questions. Consider asking the lawyer about:
- His or her qualifications and experience representing clients seeking loan modifications
- Whether the attorney only does mortgage modification work or if the lawyer also practices other types of law
- Whether the lawyer charges a flat fee for his or her services or an hourly rate, as well as the total estimated cost to handle the mortgage modification
- If you are a good candidate for a mortgage modification
Find & Hire a Florida Mortgage Modification Attorney
If you're ready to hire a mortgage modification lawyer in Florida, then you've come to the right website. Attorneys.com has a network of lawyers across the state of Florida, including in cities such as Miami, Orlando, Jacksonville, Tampa and Ft. Myers. Using our fast and free service, you can quickly locate a lawyer in your area. To get started, complete the form on this page or call us at 877-913-7222. We'll ask you a few easy questions, then we'll quickly match you with a lawyer in your area.