MIAMI DADE LOAN MODIFICATION
AND FORECLOSURE ATTORNEYS
Interest rates on the Making Home Affordable mortgage loan modifications have risen, where some borrowers are now facing hikes of 1% or 2%. A mortgage that was modified in 2009 under the Making Home Affordable Program and had a fixed interest rate of 2% in 2015, may now be at 3 or 4 % in 2017. With limited opportunities to refinance due to credit reporting problems due to the derogatory information for a mortgage loan default, borrowers are up against the wall. They may not have sufficient equity or credit rating to refinance and may not have equity to sell. So what does a borrower do?
While the Making Homes Affordable Program may have expired to submit a loan modification (the last date for submission was December 30, 2016 and has not been extended by the Trump or Obama Administration) programs still exist for loans modification if your mortgage is owned by Fannie Mae, Freddie Mac, Veteran Affairs or the USDA. Loan Modification Programs include interest rate reductions and often principal forgiveness. Even if your loan is not Fannie Mae or Freddie Mac, your lender may still be willing to work with you. Just not a loan modification under the Making Home Affordable Program unless it gets extended.
Lenders continue to be understandable and are allowing homeowners to enter into loan modifications and modify their mortgage and loans under these programs that continue to exist into 2017.
If you are facing a mortgage foreclosure due to inability to pay or a mortgage loan default, there are options for a loan modification.
At the Law Offices of Jacqueline A. Salcines, P.A., our lead real estate attorney brings over 17 years experience in the foreclosure, mortgage and real estate field as well as 22 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, ESQ.
706 S. DIXIE HIGHWAY
CORAL GABLES, FL 33146
TEL. 305 669 5280