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Law Offices of Larry E. Bray, P.A. Larry E. Bray, P.A
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Do You Need to Hire an Attorney for a West Palm Beach Mortgage Loan Modification?


Don’t assume that there are no options to help keep you from losing your home because you are behind on your mortgage. One of these options is a mortgage loan modification. A mortgage loan modification allows you to remain in your home and pay a mortgage that you can afford. Negotiating a mortgage loan modification can be a complicated process. That’s why you want to retain an experienced West Palm Beach mortgage loan modification lawyer.

At the Law Offices of Larry E. Bray, P.A., we have years of experience representing clients who are facing losing their homes because they are behind on their mortgages. We can help come up with creative solutions to work toward a resolution. Our priority is to keep you in your home while working on modifying the terms of your existing mortgage.

Federal regulations, state laws, and even common laws govern numerous aspects of commercial and residential real property, including acquiring, developing, financing, constructing, managing, leasing, and selling. Purchasing and selling real estate can be more challenging than buying or selling expensive goods with similar value, such as a boat or luxury car.

What Is a Mortgage Modification?

Loan modifications permanently restructure the terms of your mortgage. The lender will make one or more changes to make the loan more affordable so you don’t run the risk of foreclosure. Some examples of what lenders can do include:

  • Reducing your interest rate
  • Forbear some of your principal balance
  • Convert your interest rate from a variable to a fixed rate
  • Extend your loan’s term

If you have a Freddie Mac or Fannie Mae loan, you might qualify for the unique Flex Modification program available for those specific loans.

To begin a loan modification, you start by submitting an application to your loan provider, along with requested documents, including bank statements, account balances, pay stubs, additional financial debt, proof of financial hardship, etc.

Why You Should Hire a West Palm Beach Loan Modification Lawyer

Hiring a lawyer is recommended because pursuing a mortgage loan modification can be complicated. You are not familiar with the application or the process, and an attorney who has experience handling these matters would know how to fill them out.

Your attorney can also help make sure you have all the applicable documentation needed to submit with your application. They will explain your situation or financial hardship in the application that can help you qualify for the modification.

In some cases, your loan representative hasn’t complied with applicable state or federal laws that deal with the loss mitigation process. If so, your attorney can enforce your rights. One typical example is when banks jump the gun on starting a foreclosure. In most cases, they can’t begin the foreclosure until you are behind 120 days, so you have time to make alternative arrangements.

Contact a West Palm Beach Mortgage Loan Modification Lawyer Today

If you need assistance with a mortgage loan modification in West Palm Beach, let us help. Contact the Law Offices of Larry E. Bray, P.A., today to schedule an initial consultation. Let us put our skills and experience to work for you and help you stay in your home.

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To speak to an experienced West Palm Beach attorney about your legal concerns, contact us at the Law Offices of Larry E. Bray for an initial consultation.

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