What may be available in your state if you are struggling with your mortgage?
Florida being not only one of the states with the most foreclosed property in the country, but one of the many states that saw major increases in property value during the refinance boom
The amount of foreclosures in Florida alone is estimated to be over 300,000 easily. With the average home selling around $124,000. The state has tried to come up with creative ways to help struggling homeowners save their homes. From mediation services to a new service which was launched in 2010 by a collaborative effort of the Florida Bar, The Florida Bar Foundation, Florida Legal Services and the Real Property Probate and Trust Law Section. This service called FASH is designed to provide pro bono assistance to distressed homeowners.
Florida Attorneys Saving Homes (FASH) has a toll free hotline to take calls during the week from 8am to 4pm. This service is for any homeowners that fears they may fall behind or maybe currently behind on their mortgage payments.
The pro bono lawyers will negotiate with the homeowner’s lenders on behalf of the homeowner with the hopes of creating a relationship and the end result for everyone, will be a loan modification, or some type of a resolution to assist the homeowner getting back on track with their payments.
With many programs available to struggling homeowners who are behind or may fall behind, a loan modification either from the lender directly or through the government’s program Home Affordable Loan Modification HAMP program can still help you stay in your home and lower your mortgage payments.
Many homeowners need the help of an attorney due to the nature of the loan modification process and understanding the lenders underwriting requirements and process. Foreclosures are slowing down but the need for legal expertise is still suggested due to the nature, and seriousness of foreclosure.