Jupiter Home Loan Modification Lawyer
Foreclosure is on the rise in South Florida, according to the Herald Tribune, which means tens of thousands more Florida families are on the brink of financial collapse and may lose their home in the coming months. And with climate change already decreasing real estate value in hurricane prone regions, according to Fortune, countless Florida families could eventually owe more than their house is actually worth. What are your options for saving your home? Is the seemingly inevitable prospect of foreclosure breathing down your neck at night while you try to fall asleep? There comes a point when debts become so overwhelming that homeowners become desperate, and will take any passing opportunity that comes their way to hold onto their home for just a little bit longer. Often, such homeowners are taken advantage of by various parties such as debt relief agencies and they end up in worse condition than they were before. The Jupiter home loan modification lawyers have been assisting clients with loan modifications for decades. We can help you, too.
Long Term Solutions
We offer long term solutions. In some situations, bankruptcy should become a very real consideration for many homeowners. Bankruptcy should be considered a last resort option, and it may or may not be right for you at this time, as there may be other ways to get back on top of your mortgage payments. Fortunately, in large part due to the hard work done by the lawyers to Nowack & Olson to create a new Florida law, lenders are required to work with you, your attorney, and the bankruptcy courts to prevent foreclosure. We are proud to have helped create this widely beneficial law, and are proud to continue helping families stay in their homes.
Let Us Help Save Your Home With a Loan Modification
A home loan modification is an agreement between you and your lender to change the terms of your loan in order to stave off foreclosure or bankruptcy. This is accomplished by lengthening the duration of the loan, and reducing the monthly mortgage payments. In the long run, this would actually benefit your lender financially, as the total amount of money they make is greater. It can also benefit you, the homeowner, by being able to keep the deed to and continue living in your home that you have already invested significant finances into. However, in order for a loan modification to go through, your lender must believe that it is in their best interest, versus foreclosure, and that you will be able to pay the new mortgage payments in the future. A loan modification is not the same as forbearance, which is an agreement that only provides a short term amount of relief. Forbearance is a good option for people who have gone through a momentary time of financial difficulty, such as having an expensive medical problem, and who do not need a permanent loan modification.
Call The Jupiter Loan Modification Lawyers of Nowack & Olson
Our attorneys have been assisting clients with loan modifications for over 20 years, and we have built a beneficial relationship with courts, opposing counsel, and administrators. Let our experienced attorneys help you reach the best possible outcome. Contact the Jupiter law offices of Nowack & Olson today.
