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Mortgage Modification

Eastern Shore Mortgage Mitigation Attorneys

 

Mortgage Modifications in the Salisbury Area

Homeowners throughout the nation are struggling to meet their mortgage obligations and are at risk of facing foreclosure. While some homeowners’ financial problems stem from job loss, cuts in overtime pay and other financial troubles, many homeowners’ predicaments originated with the terms of their mortgages. Adjustable rate mortgages that suddenly spike can cause a tough mortgage payment to be unmanageable. Other homeowners struggle with an upside-down mortgage – a home in which the property value has dropped significantly lower than the balance on the mortgage.

The sad truth is that very few homeowners who have attempted mortgage modifications have actually obtained them. There are resources available online that provide information for homeowners pursuing a modification of their mortgage. But, even with this information, mortgage modification programs can be confusing. If you are seeking a mortgage modification or other mortgage advice, reach out to our understanding and knowledgeable team for guidance in the Salisbury area.

Compassionate Guidance Through All of Your Foreclosure Concerns

An effective modification could result in a reduced interest rate, a transition to a low, fixed rate or other negotiated terms that ultimately make your mortgage more affordable.

But a failed modification attempt could result in your lender declaring a default on your loan and threatening foreclosure. You could lose your home through foreclosure while trying to modify your mortgage. This makes it imperative to have an experienced and understanding attorney in your corner at all times during this process. You can rely on our team for help.

Experienced Legal Help for Homeowners Facing Foreclosure

Is your residence or other real estate threatened with foreclosure? Since 1993, our firm has helped homeowners resolve real estate issues. Additionally, Ann Shaw was involved in the promotion of the Protection of Homeowners in Foreclosure Act (PHIFA). This law provides homeowners threatened by foreclosure with a number of rights. The firm also represents clients under Maryland’s new foreclosure mediation law.

Our firm has information regarding the state attorneys general Mortgage Servicing Settlement, which applies to many home mortgages held by Ally/GMAC, Bank of America (and Countrywide), Citi, JPMorgan Chase (and WaMu) and Wells Fargo (and Wachovia).

We also stay up-to-date with the rules and procedural regulations of the Federal Consumer Financial Protection Bureau. We have studied the latest procedural regulations passed in January of 2014 that can protect homeowners in foreclosure.

The REST Report and What it Can Do for You

The REST Report provides information that puts you, the homeowner, on an equal playing field with your lender. Our attorneys will go through this report with you and explain all of your mortgage modification options. The information for this report is gathered from your mortgage loan information and, often, through a conference call with your mortgage loan servicer.

The REST Report is a tool that helps you evaluate your mortgage information in the same light that your mortgage lender does. It is extremely useful both as a tool that we will utilize in negotiating a mortgage modification and as a foreclosure mediation tool.

Explaining All of Your Alternatives

When faced with mortgage problems you need to know all your alternatives, including mortgage modification, mortgage forbearance, mortgage mediation, exit strategies, short sale, and
bankruptcy options.

Contact Our Maryland Attorneys for Confidential Guidance With Your Mortgage

Contact The Law Firm of Shaw and Crowson, P.A., if you have questions regarding mortgage modifications or for solid legal advice and representation. We are conveniently located one block from the Salisbury courthouse. To contact us for experienced legal services close to home, call 410-742-9171.

A carefully and completely documented history of your good-faith attempt to modify your mortgage might be the first important ingredient in saving your home from foreclosure.

We are a federally designated debt relief agency. We provide debt relief under the Bankruptcy Code.