MIAMI DADE LOAN MODIFICATION AND FORECLOSURE ATTORNEYS

The Federal Housing Finance Agency (FHFA) announced last week a new program to significantly reduce and forgive mortgage principal balance for delinquent Fannie Mae and Freddie Mac loans.  The impact of the program is expected to assist underwater homeowners that are still struggling with mortgage payments, high interest rates, and inability to refinance because of lack of equity.

Approximately 33,000 homeowners will be eligible for the program.  Applicants must be:

  1. Primary Residence applicant;
  2. Fannie Mae or Freddie Mac loan;
  3. 90 days or more past due on the mortgage as of March 1, 2016;
  4. Mortgage outstanding unpaid principal of no more than $250,000.00

The program will more than likely result in many borrowers reaching out to lenders to see if they qualify.

If you feel you can benefit from this program, and meet the requirements above, at the Law Offices of Jacqueline A. Salcines, PA, we are here to help.

We are keenly aware of the requirements and are able to sit with the borrowers, review their financials data, and provide solutions for their homeownership mortgage problems.  Allow my team of attorneys and accountants to go to work for you so you do not fall victim and lose your home.

At the Law Offices of Jacqueline A. Salcines, P.A., our lead real estate attorney brings over 16 years experience in the foreclosure, mortgage and real estate field as well as 20 in the accounting field. Ms. Salcines has been helping homeowners in foreclosure for over 10 years and is available by email to answer all your questions and concerns, without ever charging a consultation fee.

Call us today to set up an appointment to discuss your purchase or sale. We are here for you!

Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280

Email:  J.SALCINES@SALCINESLAW.COM

Home floating on a life preserver.If you are a service member and having difficulty paying your mortgage, the Making Home Affordable Program has options available to assist you.  You may be eligible for HAMP modification if:

You occupied the property but were transferred to an out of area job causing a permanent change in station (PCS) order ;

  • You intend to return to the home at some point in the future; and,
  • You do not own any other single family real estate

 

If you do own other property, you may still be eligible under HAMP modification under an expanded rental property modification option or a short sale.

The Making Home Affordable Program may offer you lower monthly payments, lower interest rates, principal forgiveness and/or principal reduction.  However, not all servicers participate.  It is crucial that we check to see if your lender participates in the plan in order to see what you qualify for.

During a consultation with attorney Jacqueline A. Salcines, Esq., we will run your numbers and see whether you qualify you for a loan modification under the HAMP Program.

If your numbers do not qualify you under the HAMP MHA program, your servicer may still participate in other in house modification programs.  We are well versed in the lender programs and can provide qualification and guidance on them.  Call today for a free, no obligation consultation with Attorney Jacqueline A. Salcines, Esq.

TRUST  |  COMMITMENT  |  RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.

706 S. DIXIE HIGHWAY

SECOND FLOOR

CORAL GABLES, FLORIDA 33146

TEL. (305) 669-5280

DIRECT EMAIL:  J.SALCINES@SALCINESLAW.COM

Stacks of One Hundred Dollar Bills with Small House.FHA, VA and USDA all offer programs for homeowners that are upside down on their mortgages, struggling to make ends meet. These programs offer reduce mortgage payments, up to 31 percent of the monthly gross income, making payments affordable. Programs can also decrease the interest rate, stretch out the amortization of existing loans and often provide principal forgiveness on loans that do not have to be paid back.

Proving eligibility for the programs can be tricky however if you qualify, the rewards are significant and can be the difference between losing your home because of inability to afford, to keeping a roof over your head at an affordable price.

Attorney Jacqueline A. Salcines, PA and her staff are knowledgeable about all these programs under the Making Home Affordable Program and can advise what you qualify for. The first consultation is free of charge.

TRUST  |    COMMITMENT  |  RESULTS

 
Law Offices of Jacqueline A. Salcines, PA
706 S. Dixie Highway
Second Floor
Coral Gables, FL33146
Tel:  305 669 5280

 

Home floating on a life preserver.Beginning January 2014, new CFPB (Consumer Financial Protection Bureau) rules to protect homeowners and consumers shopping for home mortgages went into effect.  The rules sharply reduce the runarounds and stalling techniques frequented by the banks for both sort sales and loan modifications under the HAMP Making Home Affordable Program.

Virtually every mortgage now issued will be subject to these new rules. The rules set up a new type of mortgage referred to as a “Qualified Mortgage” which determine borrower eligibility to repay, prior to giving the loan.  It considers such factors as borrower income, assets, debt and credit history.

For borrowers seeking Loan Modifications, there are added protections as well.  Mortgage servicers will now have to call or contact the borrowers by the time they are 36 days late on their mortgage.  The borrower can not initiate a foreclosure until 120 days delinquent and by that time, should have already offered certain options to the delinquent borrower with regard to loss mitigation.

Mortgage servicers can also not start a foreclosure while they are working on a submitted application for modification.  This is an incredible win for homeowners in distress that are legitimately and diligently pursuing modifications due to financial hardships out of their control.

If the loan modification is denied, the lender must provide clear and concise information as to why it was denied, sent to the borrower explaining the reason for rejection.

Congress created the CFPB to make sure “financial markets work for the consumer”  For more information you can contract the CFPB at (855) 411-2372 or contact us at the Law Offices of Jacqueline A. Salcines, PA

We process loan modifications, short sales as well as loan settlements and other loss mitigation options for our clients. We know how to put the new rules and regulations to work for you so that you don’t lose your home due to the banks runarounds.

Call today. The first consult is always free of charge and can provide you with peace of mind.

 

TRUST  |  COMMITMENT  |  RESULTS

 

LAW OFFICES OF JACQUELINE SALCINES, P.A.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL:  305.669.5280
J.SALCINES@SALCINESLAW.COM

Home floating on a life preserver.Yesterday we had the honor of calling up yet another client to advise of his loan modification approval and a more than $200,000 principal reduction on his loan.  This put his new mortgage principal at almost fair market value for his home, and a 2 percent interest rate.  His monthly mortgage payment was reduced by more than $1500.00.    And, we did it in less than 90 days!  Happy client. Happy firm.

The good news is that the bank are truly modifying mortgage balance principal and moving the HAMP modifications along in record time.  We have found 90 days to be the average time.  Yet, for all those that get modified, there are still millions trying.

If you modification is not going through, then you need to see who is processing it.  Has a bank negotiator been assigned to your case?  Is there a Specialist at the bank assisting you and confirming receipt of all financial documents?  If not, then this is the first step that needs to be taken so that you are dealing with one person for 90 days.

Corelogic reports today that nearly 6.4 million homeowners are still underwater in their loans in the United States.  This means that they owe more to the mortgage lender than their house is worth.  Florida is in second place behind Nevada.

The key to a successful modification is to make sure that it is handled by a professional that knows what they are doing, that you are qualified beforehand and that you follow up weekly. These are the three most important steps to take to ensure that your modification is approved.

Call us today to schedule a free consultation to see if you qualify for HAMP or any other loan modification program that may get you a principal reduction and interest rate reduction.

TRUST  |   COMMITMENT  |  RESULTS

 
Law Offices of Jacqueline A. Salcines, PA
706 S. Dixie Highway
Second Floor
Coral Gables, Fl 33146
Tel: 305.669.5280
J.Salcines@Salcineslaw.com

 

Home floating on a life preserver.According to the U.S. Treasury Department, more than 1.2 million homeowners have received permanent modifications through the Home Affordable Modification Program. The average savings being about $547.00 per month on the mortgage payment.   This accounts for almost 40% savings from the previous payment average.

For those that have received principal reductions, there has been granted, according to the Treasury, over 12.1 billion reduction in principal.   However, short sales are up.  The Home Affordable Modification Program, or HAMP, showed less applications by September 2013 for loan modifications, then relief sought through short sale or deed in lieu of foreclosure assistance.  The HAFA assistance program, that grants the majority of homeowners that short sale their primary residence, monetary incentives and a deficiency waiver of their balance, saw an increase in applications through September of this year.

As of September, servicers completed more than 226,000 HAFA transactions, up from the same time last year.  This may be caused by the fact that the properties are upside down, and the years of not paying for mortgages, has caused arrears to have increased significantly.  In a short sale, all arrears and balances are waived under HAFA, when it is the homeowners primary residence, or was for months preceding the application.

The top three states for HAFA short sale applications are California, Florida and Arizona.

A short sale application is easy and when the entire negotiation is handled by competent attorney and staff, the process is quick and seamless.  The lender will also pay all closing costs, and taxes and insurance. As well, as off the homeowner under HAFA an incentive depending on certain criteria, which can be as much as $35,000.00

Call us today for a free consultation to see if you qualify for a HAFA short sale or loan modification.  We have the start of the art programs that can qualify you to keep your home under HAMP or short sale it under HAFA.

TRUST   |   COMMITTMENT   |    RESULTS

 

LAW OFFICES OF JACQUELINE A. SALCINES
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL.  (305) 669-5280
OR EMAIL US DIRECTLY: J.SALCINES@SALCINESLAW.COM

 

Stacks of One Hundred Dollar Bills with Small House.This is the million dollar question asked by homeowners that are looking to sell their property in today’s market.  Many clients are visiting our offices with the notion of a short sale or loan modification. However, once we are able to run the property on the MLX and prepare a Comparative Market Analysis by square footage, the property may be worth far more than originally anticipated.  This puts the seller in either a great position to sell, or in a terrible position with a second mortgage unable to short sale or modify or sell for a profit.

If there is no equity, second mortgages can still be settled for pennies on the dollar,  thus creating equity.  Then, a regular sale, not a short sale, can be had.  A short sale requires that the property be worth LESS than the first mortgage balance.  And the balance will be what the final judgment reveals after the foreclosure, if the property was foreclosed. Only an attorney can assess the true value and determine whether it is a short sale or not.

IF trying to modify, again the primary question is what is the property worth? The existing value of the property will be the single most important factor to determine whether qualify.  If the property is not upside down, that is the mortgage balance is less than the fair market value, then the lender will typically not modify.  The loan will most probably not fall into the Making Home Affordable Program.  The homeowner is then found in a bind because they can not sell, they can not modify and they can not short sale.  The only option left is to try and negotiate the balance with the lender.

At the Law Offices of Jacqueline A. Salcines, PA, we have a staff of  attorneys, realtors and accountants, all knowledgeable in every aspect of the real estate field, to provide the most accurate and expert knowledge so that our clients can make an informed and proper decision with regard to their properties.

Call us today for a free consultation.  To see what your property is worth and whether a short sale or loan modification is in your future.

Offices in Coral Gables
 
Tel:  305 | 669 | 5280
 
Or email us at J.Salcines@Salcineslaw.com

TRUST   |   COMMITMENT  | RESULTS

Stacks of One Hundred Dollar Bills with Small House.Si Usted a tenida problemas de trabajo, de salud, de matrimonio o cualquier otra dificultad que ha hecho perjudicar los pagos hipotecarios, y esta buscando una manera para salir adelante, el short sale or programa de modificacion de Making HOme Affordable puede ser su mejor solucion.

El programa de short sale de HAFA brinda grandes ventajas.  Si es su residencia primaria y califica bajo el programa HAFA, puede ser que al terminar el Short Sale, el balance quede completamente borrado, puede Usted recibir incentivos monetarios de su banco, y evitar penalidades del 1099-C con el IRS.  Nosotros negociamos directamente con su banco para determiner el previo de venta acceptable por adelantado, para asegurar su mayor proteccion.

Si Usted tiene ingresos y quiere quedarse con su vivienda, el Programa de Modificacion bajo el Making Home Affordable es su mejor solucion para ayudarle a reducer los pagos hipotecarios, sea el balance o mensualidad, y reducer el interes, muchas veces hasta el 2%.

Y existen muchas otras alternativas!

Con tanto en juego, Usted se beneficiaria de la ayuda de un expert en viviendas.  Permita que la firma de abogados Jacqueline A. Salcines, PA revisa su estado financiero, a ningun costo para Usted.  Una vez que se revisa, se le ofrece la mejor solucion a su problema hipotecario.

Tambien ofrecemos foreclosure defense, defense de foreclosure, para parar su caso en la corte mientras buscamos su mejor alternativa.

Llamenos hoy para una consulta con la abogada Jacqueline A. Salcines, Esq., completamente gratis.

 

Law Offices of Jacqueline A. Salcines, PA
706 S. Dixie Highway
Second Floor
Coral Gables, Florida 33146
Tel:  305 | 669 | 5280
 

TRUST |  COMMITMENT  | RESULTS

Loan Modification Green Road Sign with dramatic clouds and sky.MY FIRM HAS BEEN WORKING ON A LOAN MODIFICATION FOR A CLIENT FOR THREE MONTHS NOW. THE BORROWER WAS NOT YOUR TYPICAL BORROWER.  HE HAD LARGER THAN TYPICAL EARNINGS BUT THE HOUSE WAS JUST WAY UPSIDE DOWN AND NEEDED SOME REPAIRS.  THE MORTGAGE BALANCE WAS OVER $650,000.00.

TODAY WE RECEIVED THE GREAT NEWS THAT OUR CLIENT WILL RECEIVE A $393,461.85 PRINCIPAL REDUCTION THAT WILL BE COMPLETELY FORGIVEN BY THE LENDER AS LONG AS HE MAKES TIMELY PAYMENTS FOR 3 YEARS.  AND, HIS INTEREST RATE WAS LOWERED DRASTICALLY.

THROUGH PERSERVERANCE, DETERMINATION AND TRUST, WE WERE ABLE TO GET THIS RESULT AND MANY MORE FOR OUR CLIENTS.  MANY HAVE THE MEANS TO PAY AND ARE NOT INSOLVENT, BUT THE PROPERTY VALUES ARE JUST NOT THERE.  AND WHILE THESE LOAN MODIFICATIONS ARE REQUIRE MORE SKILLED NEGOTIATIONS AND TACTICS, SUCH AS PREPARING A REPORT ON VALUE AND REPAIRS, THE BANKS ARE LISTENING!  THIS CASE IS PROOF OF THAT.

IF YOU ARE IN  NEED OF A LOAN MODIFICATION, YOUR HOME IS UNDERWATER AND  YOU OWE MORE TO THE BANK THAN WHAT THE PROPERTY IS WORTH , CALL US. WE MAY BE ABLE TO GET YOU RESULTS LIKE THE ONE WE RECEIVED TODAY.

THERE IS NO FEE TO QUALIFY YOU. WE HAVE THE SAME GOVERNMENT PROGRAMS TO QUALIFY YOU THAT THE MAKING HOME AFFORDABLE PROGRAM USES AND WE CAN TELL YOU DURING THE CONSULTATION WHETHER YOU QUALIFY OR NOT.  THEN YOU CAN MAKE THE DECISION.

LAW OFFICES OF JACQUELINE A. SALCINES, P.A.

706 S. DIXIE HIGHWAY

SECOND FLOOR

CORAL GABLES, FL 33146

TEL.  305 | 669 | 5280

J.SALCINES@SALCINESLAW.COM

 

TRUST  |   COMMITMENT  |  RESULTS 

Way Signs "Bailout - Collapse"My firm was recently successful in getting a rather large, second mortgage on a property wiped out completely.  No penalty.  No amounts owed the lender.  No deficiency. And the lender immediately sent over a Satisfaction of Mortgage to record.  How did we do it?  It was rather easy actually. We were able to negotiate with the lender and prove that the Fair Market Value of the property was well under the amounts owed the first and second lender and provided a thorough report as to value.

Once the lender received the report and was satisfied with our explanation of the borrower’s hardship, they agreed.  It was that easy.

Many times a second mortgage can thwart a short sale or a loan modification because it simply sends all values for either calculating the Borrower Financial Worksheet or NPV out of wack. Sometimes, it is the kill switch on a short sale because the second lender always retains the right, even under the Mortgage Debt Relief Act, to collect on the second post closing and maintain a deficiency.

The most important advice we can provide is hire the services of a knowledgeable attorney on your side.  One who can run the numbers, provide the proper reports to make the waiver of a second mortgage a possibility.

There are many individuals out there, some in fact attorneys, promising such results.  However, the satisfied client and our results speak for themselves.

Visit us on AVVO. COM and see what our clients are saying about our services.

Or call for a free evaluation of your case.  The consultation is always free of charge.  J.Salcines@Salcineslaw.com

Law Offices of Jacqueline A. Salcines, Esq.

706 S. Dixie Highway

Second Floor

Coral Gables, Fl  33146

T:  305  |  669  | 5280

TRUST    |    COMMITMENT   |   RESULTS