Loan Modification with Mr. Cooper ?

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SOUTH FLORIDA REAL ESTATE AND MORTGAGE CLOSING LAWYER

While we are not in yet another mortgage and real estate bubble, the recent hurricanes and loan and mortgage forbearances caused many homeowners to become late on their mortgage payments.  Additionally, many Making Home Affordable and MHA loan modifications that were completed years before, have escalating mortgage interest rates which cause mortgage payments to increase.

If you are falling behind on your mortgage,  don’t lose hope. Mr. Cooper, formerly Nationstar, and countless other lenders still offer loan modifications to help. There are many assistance options that have helped homeowners get back on track.

At Jacqueline A. Salcines, PA, we’ll do everything we can to determine your eligibility and match you with the help you need.

REFINANCING

If it’s getting harder to make your payments but you haven’t fallen behind yet, you may have a simple, effective option: Refinancing your mortgage to one with a lower monthly payment.   To refinance as part of a mortgage assistance plan, your account needs to be current and you must also have equity in your home. Most refinances are for 80 percent of the property value. It helps to have an attorney on your side, working with your numbers and making sure you qualify.

There are a few other eligibility requirements we’ll be glad to go over with you to see if you qualify.

If you qualify, refinancing can be one of the easiest ways to get back on track without big impacts to your credit score or living situation.

REPAYMENT

If you fell behind on your payments due to a temporary hardship—such as a hurricane, loss of income,  medical bills or something else, but you have returned to a point where you can pay your amount due each month, you may be a candidate for a repayment plan.

If you qualify, lenders can  spread the past due amounts over a manageable timeframe. Instead of owing it all at once and potentially incurring late fees, you’ll just have a relatively small increase to your future monthly payments until you’re all caught up.

Like all mortgage assistance options, the sooner you reach out to an attorney to assess the problems and discuss a solution to your mortgage needs,  the more likely a  plan will be available to you.

LOAN MODIFICATION

If you’re facing long-term hardship, we can see about modifying your loan so it has more manageable terms.

While refinancing means replacing your existing loan with a new one, loan modification keeps your existing loan and changes its terms.

If you qualify for loan modification, we will work closely to qualify you, see if you can obtain principal forgiveness and lower your monthly payment.

Lenders may also be agreeable to a lower interest rate or extending the loan’s timeframe to lower each month’s payment.

“The Law Offices of Jacqueline Salcines offers cost effective services designed to meet your individual needs and requirements”. For strong legal representation, call us at (305) 669-5280 today! Attorney Jacqueline Salcines  has been handling all your mortgage and real estate law needs  for over 20 years.

 Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280

Email:  J.Salcines@Salcineslaw.com

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Second Mortgage and HELOC settlements

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SOUTH FLORIDA MORTGAGE AND DEBT SETTLEMENT LAWYER

South Florida, particularly Miami and Broward counties are experiencing a wave of lawsuits with banks and investors targeting unpaid, defaulted second mortgages and HELOC’s.  Many borrowers have been paying their first mortgages through either loan modifications or other settled terms.

However, often the second mortgages were ignored or left out of bankruptcies and now are being pursued for collection and litigation.

Many laws in Florida favor the borrowers and it is important when receiving either a collection notice for a second mortgage or HELOC, or worse, a lawsuit, to consult a knowledgeable attorney.

Mortgages are liens against the property and can result in foreclosures and the loss of real estate property. Even when the property has significant equity.

If you are facing foreclosure or collection of a second mortgage contact us today.

At the Law Offices of Jacqueline A. Salcines, PA, we have over 20 years experience assisting borrowers with their mortgage and  debt settlement needs. The most important step and first step is to make sure you are represented by an attorney that is familiar with your area.

The Law Offices of Jacqueline Salcines offers cost effective services designed to meet your individual needs and requirements. For strong legal representation, call us at (305) 669-5280 today! Attorney Jacqueline Salcines  has been handling all your real estate and business law needs  for over 20 years.

 Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280

Email:  J.Salcines@Salcineslaw.com

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SECOND MORTGAGE SETTLEMENT – HELOC LINE OF CREDIT MORTGAGE SETTLEMENT

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SOUTH FLORIDA MORTGAGE AND DEBT SETTLEMENT  LAWYER

SECOND MORTGAGE – LINE OF CREDIT –  HELOC SETTLEMENTS

A HELOC, also known as a Line of Credit Mortgage or Second Mortgage is often “charged off” or appears on a borrowers credit report as “bad debt” or “charge off”. Often, borrowers wrongly assume that the mortgage is then completely forgiven or written off and not collectible.  This is not necessarily true. Often bad debt gets sold on the market and creditors, debt companies and third parties purchase it at a discount. The mortgage remains on the title to the property and is not satisfied or reflecting a zero balance.

At the Law Offices of Jacqueline A. Salcines, PA, we have over 20 years experience negotiating debt for our clients and have been successful in wiping these HELOC and Lines of Credit Mortgages off or settling them for pennies on the dollar. The most important step and first step is to make sure the debt was transferred to the new owner correctly and that it is in fact collectible. You do not want to settle or work something out on a debt that was never collectible to begin with.

Once we determine it is collectible, then we go to work to have it worked out whether written off or settled for the borrower.

If you have a HELOC or Line of Credit mortgage sitting on your credit report or property, or have been sued in foreclosure recently to collect on the line of credit, call us.

Contact the Law Offices of Jacqueline A. Salcines, PA today at (305) 669-5280 to schedule your legal consultation.

The Law Offices of Jacqueline Salcines offers cost effective services designed to meet your individual needs and requirements. For strong legal representation, call us at (305) 669-5280 today! Attorney Jacqueline Salcines  has been handling all types of mortgage, debt settlement and foreclosure  matters for 20 years.

 Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280

Email:  J.Salcines@Salcineslaw.com

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HOW TO SETTLE A LINE OF CREDIT SECOND MORTGAGE (HELOC)

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SOUTH FLORIDA MORTGAGE AND DEBT SETTLEMENT LAWYERS

HOW TO SETTLE A LINE OF CREDIT SECOND MORTGAGE (HELOC)MORTGAGE DEBT SETTLEMENT IN FLORIDA

A recent news article predicts a steep increase in line of credits and HELOC foreclosures this year based on the number of borrowers that took out lines of credits or second mortgages (HELOC) on their houses when property values increased over the last two years.  After Hurricane Irma and with stagnant property values in the past months, some borrowers were forced to default on their lines of credits.

If you are one of the many homeowners who have lines of credit or HELOC’s on their homes, in a second position after their first mortgage,  you may now be in a position to settle the debt.  With so many properties still under water, that is, the mortgage balance owed on the first mortgage is greater then the value of the property, many lenders who hold lines of credits are more than willing to settle the amounts owed on the mortgage with the borrowers.

In order to have a successful negotiation and settlement wherein the result is the complete forgiveness of the debt owed on the line of credit, it is crucial to following certain steps in order to have the mortgage lender agree to accept a short payoff.

After years of  negotiating these line of credit mortgages for our clients, we are well versed in first obtaining a CMA or Comparative Market Analysis, crafting a correct hardship letter and sending the lender the documents they required.

This settlement is not a loan modification nor does it require the production of mountains and mountains of financial documents to the lender.

There is no required Request for Mortgage Assistance (RMA) nor loan modification applications required either.

Rather, we start with a demand and proposal letter and provide the documents we know the lender will request.  And from there, the negotiation often is resolved within 30 days.  Our extensive experience working with mortgage lenders  and borrowers places us in a position to extensively negotiate for you. So that you end up paying only a small portion of the debt.

Allow us to go to work for you and negotiate your Home Equity Line of Credit debt.

We offer free phone consultations, and a no cost review of your case. 

Call us today.   305.669.5280 and see how we can help you.

About the Author:

Jacqueline A. Salcines, Esq is the Owner and Managing Partner of the Law Offices of Jacqueline A. Salcines, P.A. Real Estate and Business Law Group. With over 18 years experience including holding a dual degree in Accounting, her broad knowledge of DEBT SETTLEMENT serves to aggressively protect and defend our firm’s clients.

Call us today to set up a  free consultation to discuss your specific needs. We are here for you!

Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280

Email:  J.Salcines@Salcineslaw.com

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