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BAKER LAW, PLLC Now Offering Mortgage Modification Services to Chapter 13 Debtors Under New Orlando Bankruptcy Court Mortgage Mediation Program
Posted on August 31st, 2011 No comments
BAKER LAW, PLLC Now Offering Mortgage Modification Services to Chapter 13 Debtors Under New Orlando Bankruptcy Court Mortgage Mediation ProgramWinter Park, FL (PRWEB) May 26, 2010
Orlando Consumer Bankruptcy Attorney Richard R. Baker of BAKER LAW, PLLC is now offering new loan modification services to Chapter 13 Debtors under a new U.S. Bankruptcy Court Mediation Program in Orlando, Florida. Beginning June 1, 2010, new HAMP rule changes will now make it possible to seek mortgage modification while in an active bankruptcy case. Under existing U.S. Treasury rules, mortgage lenders are not required to consider modifications under the federal government’s Making Home Affordable Program (HAMP) while a homeowner is in an active bankruptcy case; however, these rules are about to change and they will prevent lenders from saying no to mortgage modification just because a homeowner is in an active bankruptcy case.
In the Orlando Division of the Middle District of Florida, the U.S. Bankruptcy Court has also recently launched a Mortgage Mediation Program to bring mortgage lenders to the negotiation table and offers sanctions against mortgage lenders who refuse to participate. In most cases, the HAMP trial period may be waived by making the trial payment amount of mortgage payments through the Chapter 13 Trustee, Laurie K. Weatherford in Orlando.
The combination of these two changes should make it much easier for homeowners to seek modification of their mortgages and save their home while adjusting and discharging other debts in a single proceeding with Judicial accountability. The new rules will also allow use of the schedules filed in the bankruptcy case to be used as the modification application and other streamlined procedures that will make it easier to communicate with lenders. It also gives the homeowner the added protection of a Court Order approving loan modifications to prevent future mortgage problems caused by the mortgage company.
BAKER LAW, PLLC will now be assisting homeowners in distress by using these new rules to make Chapter 13 Bankruptcy a much better option to seek mortgage modification and stay other creditors at the same time. It can also allow for the “stripping off” of second mortgages, lowering car loan payments and minimal if any payment to unsecured credit card debts. A homeowner who files for Chapter 13 Bankruptcy to reorganize may emerge from the case with a modified first mortgage, a second mortgage that is gone forever and be otherwise debt free upon plan completion and discharge.
“Finally a govern change to help the American Homeowner save their home” says Consumer Bankruptcy Attorney and Chair of the Orange County Bar Bankruptcy Committee Richard R. Baker, Esquire of Winter Park, Florida. “Most homeowners I meet with here in Central Florida need a mortgage modification and bankruptcy relief and now govern will make it easier to get both types of relief at the same clock. I believe this will really give homeowners a better happen to save their home and resolve other debt problems through Chapter 13.”
To learn more about how this new service and new legal strategy using the new HAMP rules and Bankruptcy Court Mediation in the Orlando Bankruptcy Court may help you, contact Mr. Baker by visiting http://www.legalquestion.com or call him toll-free at 888-841-3588. You may also follow him on Twitter at BakerLawFL.
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Q&A: Bankruptcy vs Modification?
Posted on August 30th, 2011 No comments
Question by Dark Fantasy: Bankruptcy vs Modification?
Modification vs Bankruptcy?With the economy situation and people’s homes not being at market value, how can one have their home brought down to market value, possibly have their second and third erased and receive a fresh start with their home?
Best answer:
Answer by Sean K
If you plan on living in it for another 10 to 20 years I wouldn’t worry about it. Prices should bounce hinder over the long term. Its not a loss until you convert it to money.
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TexasLending.com to Present a Mortgage Test on KLIF AM Radio
Posted on August 30th, 2011 No commentsTexasLending.com to Present a Mortgage Test on KLIF AM Radio
(PRWEB) August 06, 2011
Kevin Miller of TexasLending.com, a Texas home loan and mortgage company specializing in Texas refinance loans and Texas reverse mortgages, will be having a mortgage test for listeners to test their knowledge of the current housing market and the requirements to get into a home, to refinance, or to get a home equity loan on his weekend radio show. The big swings in the market this week and how that impacted mortgage rates for a 15 year mortgage drop to the lowest on record will also be discussed. In Dallas/Fort Worth the show can be heard Saturday on AM 570 KLIF from 1:00 p.m. to 2:00 p.m.
“After our home buyers seminar this past week we found that most people have no clue about the guidelines and requirements to qualify for a mortgage. We will fix that this week on the show” commented Kevin Miller.
TexasLending.com has been on the air for over 10 years to educate the consumer about home loans in Texas. Listen in each week as the CEO of TexasLending.com, Kevin Miller, and his co-hosts, discuss the behind the scenes information about the mortgage industry that will help you in making an informed decision about your home loan now and in the future.
About TexasLending.com:
TexasLending.com provides expert service in the field of residential mortgages. Headquartered in Dallas, TexasLending.com specializes in loans throughout the states of Texas, Oklahoma, Florida, Missouri and Colorado. TexasLending.com is a mortgage Banker with virtually unlimited options available for conventional, FHA, VA, Texas home equity loans, home purchase loans, refinance loans, and reverse mortgages. To find out more about Texas Lending’s home loan and mortgage programs, visit http://www.TexasLending.com.###
©Copyright 1997-, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
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