Foster Law Offices | Mortgage Modification | 4 Ticket Pirates Giveaway
Foster Law Offices Erie's Leading Mortgage Modification Law Firm | Pirate Ticket Giveaway
Are you juggling bills to pay your mortgage? Tired to trying to make payment arrangements with the bank and being forced to jump through hoop after hoop. We understand the Erie economy is tough and we can help.
The Mortgage Modification process provides Erie Homeowners with a clarity and real answer. In short, here is the mortgage modification process works.
Mortgage Modification/Loss Mitigation Process
- A client files for protection under the US Bankruptcy Code to protect all assets and likely shed other debt in an attempt to focus available disposable income toward retaining residential real estate.
- We would then file a Motion to enroll into the Loss Mitigation Program. The mortgage modification is essentially under the bankruptcy umbrella. Your assets and financial interests are protected while the modification is sought under the Court’s supervision.
- After the loss mitigation application has been approved, the court signs an Order with rigid guidelines for the borrower and the lender. As a result, your mortgage company must operate in good faith examining the current status of your mortgage and your mortgage modification packet. Deadlines are clear for the lender and the borrower. These rules and directives make the mortgage modification process transparent for the borrower.
- ALL correspondence goes through an electronic “portal” which the Court can monitor and ensures all parties are acting in good faith. The portal streamlines the process, reduces costs, and saves time for all parties.
Learn more about loss mitigation here | Schedule a free consultation | Frequently Asked Questions about Bankruptcy