Over the last 4 years, our Melbourne Florida foreclosure attorney has helped hundreds of homeowners in Melbourne, Florida and throughout Brevard County modify their mortgage and save their home from foreclosure. We have counseled thousands more on all forms of debt relief, including bankruptcy, short-sale, deed-in-lieu of foreclosure, mortgage modification and foreclosure defense. Although we've been pretty successful over the years, this year marks the most successful year for modifications in our history. Banks that once upon a time would never reduce the principal amount of the mortgage loan are now doing so. We just recently received two more principal reduction modifications, one from Bank of America, and the other from Chase. In each case, the banks cut more than $100k off the loan and reduced the interest rate below 4%. These homeowners now have a mortgage equal to the value ot their home, they can afford their monthly payments, and their foreclosure actions were dismissed.
Although we enjoy helping all of our foreclosure clients, it is especially gratifying to get a modification on a mortgage that was in foreclosure when it came to us. Knowing that we not only defended the foreclosure action but helped to make the home affordable for a family, is the most satisfying part of our job.
For those that are seeking modifications of their own, the best advice I have is to not give up. It can be a time-consuming process. You are required to send documents multiple times, each time the bank telling you they did not receive it. When they do finally receive the documents, they always find something wrong with them. It seems like a never-ending process. But if you stick with it, there may be light at the end of the tunnel. If you are in foreclosure in Melbourne Florida and are getting nowhere with your bank, give us a call for a free consultation with a Melbourne Florida Foreclosure Attorney to discuss how we can help you. Or fill out our Free Case Evaluation and someone from our office will get back to you.
Bowin Law Group. Brevard's Hometown Law Group.