MORTGAGE MODIFICATION

Our firm specializes in assisting Debtors with modifying their mortgage through the Mortgage Modification Mediation Program implemented by the United States Bankruptcy Court of the Middle District, Orlando Division.

We currently have a 92% success rate at mediating mortgages. We are seeing most mortgages reduced to 2% for five years with one year step up until reaching a fixed rate of 4-5%! Although many of the mortgage modifications we see are through President Obama's "Making Home Affordable Program" (loving referred to as HAMP) we are also seeing many traditional modifications with comparable terms when borrowers don't quailfy for HAMP. Borrowers are saving an average of $652.00 per month!

Over the last few months we have seen an upward trend of mortgage companies "forgiving" a portion of the principal balance in underwater homes that aren't owned by Fannie Mae or Freddie Mac. We hope to continue seeing principal forgiveness to help home owners stay in their homes and recover from the depressed real estate market that has hit Florida.

If you are having trouble making your mortgage payments and escpecially if 31% of your gross income is lower than your mortgage payment (including your escrow and association fees) you should call our office for a free consultation as you may qualify for the Making Homes Affordable Program or a traditional modification.