A large number of clients will find themselves using a Loan Modification Plan to avoid foreclosure. If you can currently afford your regular monthly mortgage payment but you can't catch up with the past-due balance, we will negotiate with the lender on your behalf to forgive any past-due amounts including interest, penalty and escrow or to add back the delinquent total to the unpaid principal balance.

Consumer lawyers of America employs a H.U.D. certified loan modification specialist on staff to assist you! This individual is specifically licensed to perform Loan Modifications. It is important to understand the various lender and Federal programs and how they work.

If you've been struggling with mortgage payments, you are not alone. In today's economy many are having a hard time making ends meet, and paying a high monthly mortgage doesn't help.

Loan modification can help you to renegotiate your monthly payments to the bank and modify your payment structure to make it more affordable. But if you're considering renegotiating you'll need a qualified loan modification attorney to help you through the process. Our law firm is fortunate in having a H.U.D. certified loan specialist on staff to assist in the negotiation process with your lender.

Negotiation with banks can often be a haranguing and difficult process. That's why it helps to have a qualified loan modification attorney alongside you every step of the way. We've helped many homeowners negotiate with banks and get the loan modification help they need.

Consumer Lawyers of America, P.A. has the tools and experience to restructure your mortgage with your lender. We understand what's at stake for you and your family and will work tirelessly on your behalf. If a loan modification is not the answer we can perform a Short Sale.

Here are some of the extra solutions we can pursue for you...

Reinstatement

The Reinstatement amount is the total amount that is past due including late fees and Attorney costs. This amount is what is required to bring your Mortgage current. Because of your financial circumstances in the past, you may be facing a sizable amount of past-due fees, including back payments, late fees and legal expenses. If you are able to pay the total in full to bring your payments to current status by a specific date, you may be eligible for a Reinstatement plan. A Reinstatement will offer you the quickest method for resolving your mortgage foreclosure. With your foreclosure resolved you can enjoy the security of your home.

Repayment Plan

The most common way of resolving a loan default is to work out a plan which will let you repay part of the delinquency each month, along with you regular monthly installment. Most of our clients will be eligible for a Repayment Plan for the amount they are delinquent if their financial circumstances have stabilized. Most of our clients have realized a short term financial hardship that has caused them to become delinquent. They are now financially back on their feet and need help getting caught up. We will negotiate with your lender to re-distribute your past-due amount over a set period of time, usually 18-24 months, depending on your circumstances.

Loan Forbearance

Some of our clients are eligible for Forbearance, which will give you time to gather your assets. In a Forbearance plan, you are allowed to delay or reduce payments for a short period, with the understanding that another option will be used at the close of that time to bring your account to a current status. Your lender (if in agreement) will then temporarily cease legal actions.

 Deed-in-lieu of Foreclosure

The deed in lieu of foreclosure offers several advantages to both the borrower and the lender. The principle advantage to the borrower is that it immediately releases him from most or all of the personal indebtedness associated with the defaulted loan. Basically, you forfeit all rights to the property and the property will be conveyed to the lien holder. In exchange for the deed-in-lieu, the lender may waiver all deficiency judgment rights.
The borrower also avoids the public notoriety of a foreclosure proceeding and may receive more generous terms than he would in a formal foreclosure.