Florida Loan Modification


Tampa Loan Modification Attorney

When the value of a property falls to a significant degree and the property owner is in danger of defaulting on the mortgage, it may be possible to negotiate a reduction in the monthly payment owed to the bank.

At the Moon Law Group we are experienced in all aspects of loan modifications and have successfully renegotiated a number of mortgages on behalf of residential property owners in the Tampa Bay area.

If a loan modification is right for you, we can achieve a significant reduction in your monthly mortgage payment and help you hold on to the property.

 

The Loan Modification Process

Loan modifications are not easy. Lenders are naturally quite skeptical when first approached about a mortgage modification agreement.

The key to success is to develop the documentation that convinces the lender that the value of the property has fallen significantly and the threat of default is real. As an experienced real estate law firm, we understand the Florida real estate market. We will analyze your situation and produce compelling documentation based on a broker’s input, recently closed sales and actual listings of comparable properties.

We will also analyze your financial situation and develop information that shows that default is a real possibility.

This term has been getting a lot of attention lately and rightfully so. With millions of homeowners stuck in toxic adjustable rate mortgages and no way to refinance out of them, loan modification may be the only way to assist struggling home owners.

This term is used when your lender modifies your current mortgage (keeping the same loan you have, only changes are made to the note) in order to work with you and make your mortgage more affordable. A loan modification will change one or more of the following:

  • your interest rate
  • loan balance
  • delinquent fees owed
  • term of loan

In the past, this was only used when a borrower was delinquent but now we see it being used before someone is delinquent. This is one of the best methods to help people avoid foreclosure.

Contact Us

To effectively serve clients throughout the Tampa Bay area, we have offices in Brandon, Tampa, and St. Petersburg, Florida. For assistance, call 813-200-7255 to reach our Brandon law office or 727-361-0443 to contact our St. Petersburg law office.

 Contact Us Now

Copyright © 2014 Moon Law Group | 705 N. Parsons Avenue | Brandon, FL 33510 | Phone: 813-200-7255
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