OPTIONS ARE AVAILABLE IF YOU ARE NOT ABLE TO MAKE ANY FURTHER PAYMENT ON YOUR HELOC MORTGAGE

If your amortizing HELOC which originated right before the bubble burst, has now shot up to a higher than manageable interest rate, you have options.  A HELOC, or Home Equity Line of Credit are loans that are given against the property, or mortgage, which allow homeowners to cash out or obtain cash from the bank.  HELOC’s were very popular during the real estate boom in South Florida, as property values shot up, providing for significant equity in the home.  Lenders asked very few questions when giving these lines of credits, often not even verifying employment, and often soliciting the borrowers themselves.

At the beginning the HELOC’s have very low interest rates, or are interest only, causing only a $200 or $250.00 dent in the borrowers pocketbook. But as the amortizing HELOC’s now reach maturity or rate adjustments, homeowners are finding themselves unable to make the payments.

That’s where we come in.

If the home is upside down with the balance of the first mortgage, then we may be able to successfully settle the second and have it removed from the property.  Or, in the alternative, modifications can be made with respect to the HELOC’

At the Law Offices of Jacqueline Salcines, PA, we can help you navigate through the maze of homeownership and HELOC’s.  Knowing  the type of loan settlement you can qualify for and whether the servicer participates is our job.

Allow us to put our knowledge and expertise to work for you.  The first consultation is always free of charge and can determine, after careful examination of the above details, provide options available to you.   Call today.

 

TRUST  |   COMMITMENT  |  RESULTS

LAW OFFICES OF JACQUELINE SALCINES, PA.

706 S. DIXIE HIGHWAY

SECOND FLOOR

CORAL GABLES, FL 33146

TEL: 305 669.5280

Direct email: J.Salcines@salcineslaw.com