Jacqueline A. Salcines, PA
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Jacqueline Alicia Salcines





A recent news article predicts a steep increase in line of credits and HELOC foreclosures this year based on the number of borrowers that took out lines of credits or second mortgages (HELOC) on their houses when property values increased over the last two years. After Hurricane Irma and with stagnant property values in the past months, some borrowers were forced to default on their lines of credits.

If you are one of the many homeowners who have lines of credit or HELOC's on their homes, in a second position after their first mortgage, you may now be in a position to settle the debt. With so many properties still under water, that is, the mortgage balance owed on the first mortgage is greater then the value of the property, many lenders who hold lines of credits are more than willing to settle the amounts owed on the mortgage with the borrowers.

In order to have a successful negotiation and settlement wherein the result is the complete forgiveness of the debt owed on the line of credit, it is crucial to following certain steps in order to have the mortgage lender agree to accept a short payoff.

After years of negotiating these line of credit mortgages for our clients, we are well versed in first obtaining a CMA or Comparative Market Analysis, crafting a correct hardship letter and sending the lender the documents they required.

This settlement is not a loan modification nor does it require the production of mountains and mountains of financial documents to the lender.

There is no required Request for Mortgage Assistance (RMA) nor loan modification applications required either.

Rather, we start with a demand and proposal letter and provide the documents we know the lender will request. And from there, the negotiation often is resolved within 30 days. Our extensive experience working with mortgage lenders and borrowers places us in a position to extensively negotiate for you. So that you end up paying only a small portion of the debt.

Allow us to go to work for you and negotiate your Home Equity Line of Credit debt.

We offer free phone consultations, and a no cost review of your case.

Call us today. 305.669.5280 and see how we can help you.

About the Author:

Jacqueline A. Salcines, Esq is the Owner and Managing Partner of the Law Offices of Jacqueline A. Salcines, P.A. Real Estate and Business Law Group. With over 18 years experience including holding a dual degree in Accounting, her broad knowledge of DEBT SETTLEMENT serves to aggressively protect and defend our firm's clients.

Call us today to set up a free consultation to discuss your specific needs. We are here for you!

Main office 305 | 669 | 5280. Or email the attorney directly: [email protected]

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706 South Dixie Highway
Second Floor
Coral Gables, FL 33146

Phone: 786-671-3887
Fax: 305-669-5283
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