Our client’s financial situation was critical. She was facing the imminent loss of her triplex property due to foreclosure. With two failed bankruptcy attempts, there seemed to be no solution. However, by turning to S&B Legal, her fate changed dramatically thanks to mortgage modification.
The Challenge of Foreclosure
The debtor was trapped in a mortgage with unfavorable terms, with a debt exceeding $221,000 with her first lienholder. With the risk of losing her property, the costs accumulating, and the pressure from creditors, options were running out. In addition, the two previous bankruptcy attempts not only failed to solve the problem but worsened her credit situation.
The Solution: Modified Mortgage Payment
Our debt management and foreclosure attorneys dove into her case, exploring all possible solutions to ease her financial burden and save her property. Through strategic negotiations, we achieved a modification of her mortgage payment, establishing a favorable interest rate of 4.5%, significantly lower than the previous one.
The Outcome: Mortgage Loan Modification
Thanks to S&B Legal‘s intervention, our client was not only able to save her triplex from foreclosure but also managed to eliminate more than $221,000 of her debt to the first lienholder. In addition, her mortgage was renegotiated to start over, without accumulated arrears.
With a fresh financial start, she was able to stabilize her financial situation and keep her property, allowing her to move forward with her life without the burden of unsustainable debt.
This case is a clear example of how, with the right legal representation, it is possible to find effective solutions, such as a loan modification process, even in the most desperate situations in cases of a foreclosed property.
Are you in a similar situation?
Don’t let financial problems take away what you have worked so hard for if you have homes in foreclosure. At S&B Legal, we offer free consultations to evaluate your case and find the best strategy to protect your assets and secure your financial future. A loan modification agreement may be the solution you need.
Contact S&B Legal today and take the first step toward financial peace of mind.
