Mortgage Modifications and Foreclosure Scams

Don't Fall Victim to a Mortgage Mod or Foreclosure Scam

While a legitimate mortgage modification can be useful to homeowners who are able to obtain one, typically, most people who seek loan modifications are unsuccessful. At Kingcade & Garcia in Miami, we steer clients away from so-called mortgage modification companies. Never pay a company or an individual up front for a mortgage modification. Many of these companies are dishonest, if not downright illegal.

Why Is it so Difficult to Get a Mortgage Modification?

The reason why most homeowners are unable to obtain mortgage modifications is because their debt-to-income ratios are too high. If you have too much debt, your bank or loan company will likely turn down your request for a loan modification.

One surefire way to reduce your debt is by filing for Chapter 7 or Chapter 13 bankruptcy. Following a successful bankruptcy filing, you may be able to obtain a mortgage modification if you have provable income. If you are behind on your mortgage payments, bankruptcy can completely stop all foreclosure proceedings and eliminate your debt, allowing you to catch up on your payments.

At Kingcade & Garcia, our experienced bankruptcy attorneys can provide you with trusted guidance regarding your mortgage and ensure you are familiar with all of your options. Our team has experience helping clients avoid foreclosure and find debt relief through bankruptcy and, in some cases, mortgage modification.

Let us put our knowledge and experience to work for you. If you are facing foreclosure, contact our lawyers online or call our south Florida office at 305-285-9100 to set up a free consultation.