We have had many homeowners in forbearance plans that have contacted our office about what their next steps are. There is not a one-size-fits-all response to these questions. First, for those who got their forbearance plans in writing, the document will most likely dictate what steps you need to take now to keep your account current.
For many people, they must now pay back the 3 months’ worth of mortgage payments that they missed. This means that families who have been struggling with unemployment must now come up with many thousands of dollars that they do not have. The unfortunate reality is that if your forbearance plan requires this, and you do not pay all the missed payments by the due date in the forbearance agreement, the bank will start foreclosure proceedings.
We have seen this countless numbers of times over the years. This is common during hurricane season when the bank offers forbearance plans. Homeowners without the ability to pay are left holding the bag and find themselves in foreclosure.
If the bank is requiring you to pay back all these missed payments now and you cannot afford to do so, its time to get legal help. The sooner, the better. The longer you wait to figure this out, and the longer you go without making payments, the more difficult the situation becomes to resolve.
If you did not get your forbearance agreement in writing from your servicer, then it’s the Wild West. There is a Florida statute on the point that a forbearance agreement that is not in writing is not enforceable. The bank may be free to do with your home as they please.
If you think that the bank is here to help you and has your best interest at heart, think again. Banks have shown an absolute willingness and capacity to come after unsuspecting homeowners. You need to put aggressive legal representation between you and the bank.
Who Can You Trust?
You need an attorney that has a proven track record of saving homes, one that has extensive trial foreclosure experience, one that handles modification and not just takes money from you and strings you along, one that handles bankruptcies in the event that you need bankruptcy to save your home, and lastly, you need a law firm with a proven track record of suing banks and loan servicers.
How Loan Lawyers Can Help You?
Loan Lawyers fits that bill perfectly. We have helped thousands of Florida residents save their homes, we handle bankruptcies and loan modifications, both of which may be powerful tools to save your home. Our lead trial attorney has been trying cases in court for over 2 decades and has a proven track of success. Further, we have recovered millions of dollars for our clients from banks, loan servicers, and debt collectors for wrongdoing.
Call Loan Lawyers now at 1-888-FIGHT-13 to schedule your free consultation with one of our attorneys. Do not hide your head in the sand and hope everything will be just fine. Get the right legal team on your side so you can start sleeping well once again.