Tampa Loan Modification Lawyer
Firm represents Florida homeowners looking to renegotiate mortgages
Struggling to make mortgage payments can be a stressful experience. As payments become delinquent, the possibility of foreclosure increases unless you take effective action. At Befeler Law Firm, P.A. in Tampa, we are dedicated to helping Floridians maintain ownership of their homes through appropriate loan modifications. There’s no time to wait if you’ve fallen behind on payments. Let us develop a proposal and use our experience in this area to pursue a solution that provides the peace of mind you deserve.
What can a mortgage loan modification do for you?
A mortgage is a serious commitment, but circumstances can arise after securing a home loan that make it impossible for you to make scheduled payments. Without warning, a job loss or family illness could strain your resources beyond the breaking point. If you become delinquent on your mortgage, you could face additional fees and interest costs, as well as the possibility of foreclosure. Fortunately, an experienced attorney can work on your behalf to negotiate a mortgage modification that shifts your monthly payment to an amount that fits within your budget. Our firm offers a reasonable flat fee to speak with your lender so that you can save your home and avoid high litigation costs. In cases where litigation is necessary, we can offer representation to properly deal with your foreclosure.
Loan modification process in Florida
For some homeowners, mortgage modification is not the best option. We’ll review your past due amount, loan terms, income, expenses, home equity and other information before advising on the optimal solution for you. Should you decide to go forward with the modification, we’ll handle each step, such as:
- Notifying your lender — Our firm will contact your lender immediately to try to pause the foreclosure process and begin discussions on the modification.
- Submitting documents — It is critical to provide relevant financial records to demonstrate the need for the change and your ability to make full payments under the proposed loan terms.
- Negotiating terms — Financial institutions sometimes balk at initial offers, but we know what considerations matter to them and present a compelling case for an adjustment.
- Finalizing the modification — Once agreement is reached, our firm makes sure the relevant modification paperwork is completed accurately and executed.
You should not agree to a short sale or some other negative outcome without speaking with us about changing your loan obligation.
Tampa Bay firm works to find the best solution for borrowers
Every mortgage modification discussion has unique elements and considerations. We work personally with each client to form a strategy that best fits their situation and needs. Your revised loan agreement could include one or more of the following facets:
- Lower interest rate
- Extended loan repayment term
- Forbearance, which allows you to pause payments temporarily
- Reduction of principal
- Deferral of payments
- Capitalizing arrears, so that missed payments become part of the overall mortgage balance
- Loan modification with a balloon feature
As an experienced real estate attorney, David Befeler understands the Florida residential housing market and the factors that motivate financial institutions to accept mortgage modifications. You can rely on him to construct a fair proposal that has a strong likelihood of approval.
Contact an experienced Florida mortgage modification attorney
Befeler Law Firm, P.A. in Tampa works on behalf of Florida clients who are seeking to renegotiate their mortgage terms or explore a mortgage loan modification. If your lender says you are delinquent on payments, or you are concerned that you will not be able to satisfy existing loan terms, please call 813-489-1040 or contact us online.
