Mortgage Modification Denied

By: Jane Weatherly

I frequently hear clients say they were told to not pay their mortgage for 3 months so that they can apply to get a mortgage modification. Then, after submitting all of their paperwork, the modification is denied. Or, they may be put into a trial period, all of the while believing that their mortgage has been modified. Then they're surprised to be served by the Sheriff with foreclosure documents. They really are rightfully scared, confused and hopeless. They wouldn't have asked for a modification if they could afford their mortgage in the 1st place and now the bank is telling them to pay for at least those three months which was not paid to apply for the modification or be faced with the prospect of losing their home.
Sometimes, instead of endlessly arguing with the bank, homeowners benefit from meeting with a lawyer knowledgeable about the mortgage modification process or an experienced bankrutpcy lawyer. Plenty of people asked for help with a mortgage modification from their bank hoping to avoid filing for bankruptcy. Some people think that if they file for bankruptcy, they will be forced to sell or lose their home. This is frequently not the case. Filing for bankruptcy can sometimes be the only choice to save your home. In order to learn if bankruptcy might help you, you may want to sit down with a local bankruptcy lawyer. In case you are considering filing for bankruptcy as a way to protect your property, please don't wait until the sale date is scheduled. The bank may have dragged their feet with respect to your modification, but time is very important and the earlier you speak with a bankruptcy lawyer, the more options could possibly be available to save your home.
A chapter 13 bankruptcy is the primary chapter of bankruptcy used to prevent a mortgage foreclosure. There are very few requirements to qualify to file for a chapter 13 bankruptcy. A chapter 13 bankruptcy will let you repay your late mortgage amounts over a time frame as opposed to right away, like the bank wants.
Only a licensed attorney can give a homeowner legal advise regarding their situation. There are several ways to find a qualified lawyer. For example The National Association of Consumer Bankruptcy Attorneys is often a helpful resource in helping distressed homeowners find a qualified lawyer who is experienced in both mortgage modification issues and the advantages of filing for bankrutpcy protection as it relates to stopping foreclosure proceedings.

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Jane L Weatherly, Attorney At Law, PLLC is a bankruptcy law firm located in Raleigh, Wake County, North Carolina. The firm is a federal debt relief agency helping individuals file for protection under the United States Bankruptcy Code. For more information, please call (919)758-9296 or visit

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