Being behind on mortgage payments is scary. Depending on how far behind you get, it can lead to foreclosure of your home. You could be left with ruined credit and nowhere to live. If you are struggling to pay your mortgage bill on time each month or have missed payments, you may be able to have your loan modified to reduce payment amounts, even if the foreclosure process has already begun. Our experienced mortgage loan modification lawyer, Carlos M. Amor can advise you whether a modification may help you avoid foreclosure based on your unique situation.
Speak with a Knowledgeable Loan Modification Lawyer
Attorney Carlos M. Amor has successfully helped many people understand loan modifications and other loss-mitigation options to keep their homes. Once you speak with Attorney Amor and he understands your circumstances, he can counsel you about whether a loan modification may be the right option for you. If it is, he can guide you through the steps of applying for a loan modification with your lender.
Call Carlos M. Amor today at (954) 453-7200 to schedule a time to discuss your specific situation. For the convenience of clients, our law firm offers free consultations, by phone, via video meeting, or in person.
What Is Loan Modification?
Advocating for Your Legal Rights with Lenders
Under federal consumer protection law, your lender or loan servicer cannot begin formal foreclosure proceedings on your home until you’ve missed making your mortgage payments for at least 120 days, or four months. Before that time is up, your lender is required to inform you about possible loss-mitigation opportunities to avoid foreclosure. One of these loss-mitigation options that may help you prevent foreclosure, depending on your individual circumstances, is a mortgage loan modification. Essentially, a loan modification is a refi that occurs after you are behind on your loan, are in default, or are already in foreclosure.
In a loan modification, terms of an existing mortgage are permanently restructured toward the objective of reducing monthly payment amounts. Restructuring could mean one of the following:
- Extending the length of the loan.
- Lowering the interest rate to the current market rate if it’s lower than what you already have.
- Changing your rate from a variable rate to a fixed rate.
- Eliminating late-payment fees.
- Forbearing some of the principal balance.
- Other options, depending on the circumstances.
You can request a loan modification from your lender when you are in pre-foreclosure, which is after you’ve been late or fallen behind on payments but before you’ve received official notification of foreclosure, or even after notification. However, you will get a loan modification only if your lender offers you this loss-mitigation option. And sometimes, for various reasons, it isn’t in lenders’ interests to provide loan modifications.
You may stand a stronger chance of getting a loan modification from your lender if you have an experienced mortgage loan modification lawyer advocating on your behalf. Our Attorney Carlos M. Amor can determine whether your lender is in compliance with federal and state foreclosure laws regarding loss mitigation. If they aren’t, he will stand up aggressively to protect your rights. He can help you throughout the process of applying for a loan modification, including completing complex paperwork.
Why Choose Our Loan Modification Attorney?
Experience & Commitment Count in Resolving Complex Mortgage Payment Problems
When you are in possible danger of losing your home to foreclosure, you need an attorney on your side who will take your problem as seriously as you do. Loan modification attorney Carlos M. Amor is a Miami native who has lived and practiced law in Florida his entire life. He is deeply committed to the state and its residents and works tirelessly to get the best possible outcomes for clients who are having trouble making mortgage payments. Attorney Amor . . .
- Has over 15 years of experience practicing real estate law in Florida including helping homeowners get loan modifications.
- Is highly knowledgeable about federal and state mortgage lending laws that protect consumers.
- Is a licensed real estate broker as well as an attorney, which provides him even more understanding of the stress and anxiety homeowners face when they cannot pay their mortgages.
- Is an award-winning attorney recognized by his legal peers for his professionalism and high ethical standards.
- Has a successful track record of delivering results—read client reviews here.
Attorney Amor wants to make getting legal help as expedient as he can for homeowners in financial distress. Toward that end, he offers free consultations over the phone, in person, or via video, whatever method is most convenient for you. Contact us for help today.
How We Can Help with Loan Modification
We Will Provide Astute Legal Counsel throughout the Request Process
We can review all the factors in your situation to determine whether applying for a loan modification is the best loss-mitigation option for your circumstances. If it is, mortgage loan modification attorney Carlos M. Amor will:
- Ensure you understand what documentation you will need to provide to your lender as part of your loan modification request.
- Assist with all the confusing paperwork involved in the application process.
- Advocate for you to receive satisfactory terms for reducing your mortgage payment.
- Review the loan modification agreement from your lender to ensure the terms are in your interest before you sign it.
- Follow up with the lender if they do not respond to your request for a modification.
- Advise you about your eligibility for appealing if your loan modification request is denied.
Having a loan modification application approved is not a given. You may stand a better chance of your modification’s being approved with the help of an attorney with extensive experience helping homeowners who are having trouble paying their mortgages to get loan modifications and other loss mitigation methods.
Mortgage Loan Modification Requirements
Guiding You in Preparing Your Loan Modification Application
There are specific requirements for getting a loan modification. In your mortgage loan modification application, you will have to prove to the bank that:
- You are experiencing financial hardship because of a job loss or other situation.
- You will have enough income to make payments under the terms of the modified loan.
You’ll need to include information about your personal situation, the property you need a modification on, and other details. Along with the modification application, you’ll likely have to provide supporting documents, including pay stubs, bank statements, tax returns, a signed statement of financial hardship, and other items.
Loan modification forms and paperwork can be confusing. Attorney Carlos M. Amor can assist you with the application process to help ensure that all necessary information is included. If you aren’t sure whether a loan modification may help you in your specific situation, he will advise you.
If you have already filled out an application and your mortgage servicer isn’t responding to you, or if you believe the lender may be violating Florida’s foreclosure laws, give us a call today for assistance at (954) 453-7200.
Additionally, there may be different loan modification processes and procedures depending on who your lender or loan investor is. For example, if your loan is owned by Freddie Mac or Fannie Mae, you may qualify for their flex modification program. Because of how complicated the mortgage loan industry is and how often mortgages are sold between lenders and investors, it can sometimes be hard to figure out who to approach for a loan modification and the procedures for obtaining one. You can review your loan paperwork to try and figure out who to contact. You can also reach out to our efficient loan modification attorney, Carlos M. Amor for guidance. Our law firm can help you with the complicated steps in filing for a mortgage loan modification.
Denied a Loan Modification? We Help with Appeals.
There are additional issues to consider in filing for a loan modification. If you are in foreclosure and have applied to your lender for a loan modification, they can’t complete the foreclosure process until they have given you a decision on your application. If you are denied a loan modification, your servicer must tell you exactly why. And, as described at the federal Consumer Financial Protection Bureau website, you may have a right to an appeal:
“If your servicer receives your complete application for loss mitigation at least 90 days before a scheduled foreclosure sale, you may also have a right to appeal if you were denied a loan modification.”
When an appeal is your last chance to get the loan modification you need to keep your home, it’s especially important at this point to get the help of a skilled attorney. You only have 14 days to file an appeal after denial of your loan modification application. Carlos M. Amor has successfully helped many Floridians keep their homes through loss mitigation procedures. He will work assertively as your legal advocate to develop a strong appeal strategy that may sway your lender to modify your loan.
What Goes into a Loan Modification Agreement?
Our Mortgage Loan Modification Lawyer Reviews Contracts to Ensure Clients’ Interests Are Upheld
A loan modification agreement is a written contract that details the exact terms of the modified mortgage loan and the expectations you must meet. Your lender must provide a copy of the agreement to you in writing and give you at least one day to review it before you are expected to sign it. Once you’ve signed it, under Florida law, should you discover that the terms aren’t really in your interests or change your mind about the modification, you have three days from the signing date to cancel the agreement without any penalties.
If you have worked directly with the lender on your loan modification agreement and have any questions about its contents, Attorney Carlos M. Amor can review your contract before you sign it. As a well-informed loan modification lawyer, he can explain the terms to you if there is any confusion and make sure that they are not detrimental to your interests.
How to Avoid Being the Victim of a Loan Modification Scam
Get Reputable Advice from a Mortgage Loan Modification Attorney
Unfortunately, there are unethical “loan modification” companies that prey on homeowners who are having trouble making their mortgage payments. These companies promise that for an up-front fee, they can get loans modified. When you’re in danger of foreclosure or foreclosure proceedings have already started on your home, it may be tempting to believe these empty promises, but you shouldn’t. Many of these third-party loan modification and foreclosure “rescue” companies are illegitimate. No one can promise that a lender will modify your loan. And it is illegal to charge up front for loan modification services. Some of these services may ask for thousands of dollars.
If you are being guaranteed a loan modification in return for an up-front fee for services, you can report it to the Florida Attorney General’s office by filing a complaint here.
No one can promise that a lender will modify your loan. And it is illegal to charge up front for loan modification services. Don’t fall for a scam—get legal help from a real estate attorney who will look out for your interests honestly and ethically.
Get Help with the Loan Modification Process
You have the right to apply directly to your lender for a loan modification. When you have concerns about the complicated application process, how to fill out the forms, what the application should contain, whether your lender or servicer is following the law or why your lender hasn’t responded to your modification request, a skilled mortgage loan modification lawyer will work to address them and will work to safeguard your rights.
Our reputable attorney Carlos M. Amor provides legal assistance to homeowners seeking loan modifications. Attorney Amor is a well-rounded Plantation real estate attorney who practices in the full range of real estate matters. He is also a licensed Florida real estate broker, which gives him even more knowledge and insight into how the real estate and foreclosure process works in the state. He can help you prepare your modification application and advocate for you toward getting satisfactory terms to reduce your mortgage payments.
Reach out to an Experienced Loan Modification Attorney in Florida
Attorney Carlos M. Amor Fights to Keep Homeowners from Foreclosure
From years of working in real estate law, Attorney Carlos M. Amor understands the stress and anxiety you’re facing when you can’t make your mortgage payments. The worry about potentially losing your home can strain all areas of your life, impacting both your emotional and physical well-being and that of your family.
We may be able to help you have your loan modified and get you on track to keep your home. If a loan modification isn’t viable in your case, we can counsel you about other possible loss-mitigation options. The sooner you reach out to our loan modification attorney in Florida, the sooner you may be on your way to a potential solution.
When you need the assistance of a mortgage loan modification attorney who will work compassionately with you while aggressively looking out for your interests, reach out to Carlos M. Amor at (954) 453-7200. We offer free consultations, by phone, via video meeting, or in person.
