Client was more than four (4) years behind on this mortgage and he came to us for assistance in saving his home from foreclosure. Over the course of those four (4) years he had made countless attempts to save his home; however, those attempts were unsuccessful.
Our client filed Chapter 13 bankruptcy with us in mid-September 2021. Through his Chapter 13, we indicated that Debtor was going to participate in the Mortgage Modification Mediation Program (the “MMM”). Understanding that if the MMM was denied we would need as much time as possible to cure and maintain the mortgage, we promptly submitted the documents request by the mortgage company for consideration for mortgage modification. Despite our best efforts, the modification request was unfortunately denied on the basis that the mortgage company could not come up with a lower payment.
In compliance with the Court’s rules, we promptly amended the plan to cure and maintain the mortgage. The Chapter 13 plan payments were on the high side, but Debtor was willing to do just about anything to save his family home. This includes working a total of three (3) jobs. Our client’s wife was also employed full-time. His children, who resided in the home, pitched in to assist in making the Chapter 13 plan payments. Seeing how hard our client and his family were fighting to save his home, we could not and would not give up on them. So to work we went. We attended the mediation set for the review of the mortgage modification- a move that was seemingly a waste of time when there was a denial already issued. During the mediation, we dug into the reason for the denial. The mortgage company made it clear that it could not propose a lower payment than our client already had. We acknowledged that and made the argument that we were not concerned about the payment being somewhat higher. We further noted that our client and his family were making the plan payments that were higher than mortgage payments. We noted that our client and his family just want to save their home. Eventually, we reached an agreement with the mortgage company to resubmit the modification paperwork and we are happy to report that the modification request was granted. To make the outcome even better, trial mortgage payment was only $300 higher than our client’s current monthly mortgage payment.
Our client and his family are incredibly happy, and we are incredibly happy for them.
Loan Lawyers has helped over 7,000 South Florida homeowners and consumers with their debt problems, we have saved over 3,000 homes from foreclosure, eliminated $100 million in mortgage principal and consumer debt, and have recovered over $25 million dollars on behalf of our clients due to bank, loan servicer, and debt collector violations, negligence and fraud. Contact us for a free consultation to see how we may be able to help you
