Mortgage Modification

modificationOur 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 high success rate at mediating mortgages. We are seeing most mortgages reduced to 2% for five years with one year step up until reaching the current fixed rate which is around of 4.0%! Although many of the mortgage modifications we see are through President Obama’s “Making Home Affordable Program” (referred to as HAMP) we are also seeing many traditional modifications with comparable terms when borrowers don’t qualify for HAMP. Borrowers are saving an average of $505.00 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 are not owned by GSE’s such as Fannie Mae, Freddie Mac, FHA and FA, although Bank of America recently entered a settlement where they will forgive GSE loans! 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 especially if 31% of your gross income is lower than your current mortgage payment (including your taxes, insurance 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.

Robert Branson is a leading Mortgage/Loan Modification Mediator in Central Florida.  Not only has he been a mediator for many years, his depth of experience in Mortgage/Loan Modification Mediation, including being one of the first, gives him unique insight into the Mortgage Modification Mediation process and negotiations.  Clients appreciate the leg up on the process his mediator experience provides.