Loan Modification

A Florida home loan modification is an excellent option available to people who are struggling to make their mortgage payments. If you’ve already defaulted on a mortgage or think you will soon, a loan modification can adjust the terms of your loan, saving you from residential foreclosure and making it easier to pay off your mortgage. Loan modifications must be negotiated with your lender so it is very important to work with a law firm who can help you understand the terms of a modification and advise you on how to proceed. The Florida Foreclosure Law Group is that Firm.

Additionally, there is a federal mandate for most lenders to at least review the majority of their loans for modification possibility.


If any of the following factors apply to you, you should call today for your Free Consultation and see how we can help you.

  • If your home is worth less than the amount you owe and are STRUGGLING to make your payment.
  • If you have/are about to fall behind on your mortgage.
  • If you are being foreclosed.
  • If you have an Interest only, Negative amortization or an adjustable rate mortgage that adjusted higher and you cannot afford the new higher monthly payment.

Mortgages are modified to the benefit of the borrower in one or more of the following ways:

  • Reduction in interest rate, or a change from a floating to a fixed rate, or in how the floating rate is computed
  • Reduction in principal
  • Reduction in late fees or other penalties
  • Lengthening of the loan term
  • Capping the monthly payment to a percentage of household income
  • Mortgage forbearance program

The borrower can be current, late, in default, in bankruptcy, or in foreclosure at the time the application for modification is made. The programs available will vary accordingly.

At The Florida Foreclosure Law Group, we have extensive experience obtaining modifications directly from lenders through Mediation in addition to working with Federal loan modification programs like the Making Homes Affordable program. The Making Home Affordable Program is a critical part of the Obama Administration’s broad strategy to help homeowners avoid foreclosure, stabilize the country’s housing market, and improve the nation’s economy. Call us at 877-783-5986