Post-Judgment Modifications


Many homeowners who are facing a foreclosure ultimately want to do whatever is necessary to retain their home. Their home is more than just a place to sleep – it’s where their kids grew up, it’s where they first lived when they came to America, and it’s where they would like to stay when they retire. So what happens when you’ve done everything in your power to try and bring your loan current, get out of default and save your home, but the bank won’t help you?

For most clients, trying for a modification as soon as possible is the best option. Securing a modification keeps you in the home and gets you out of the foreclosure lawsuit. But some clients don’t “qualify” for a modification, which is the bank’s way of saying you either make too much money, too little money, or they just don’t want to give you a modification regardless of how much money you make. This happened to one of my clients recently, who applied for a modification during the lawsuit and was denied. We went to trial and the Judge granted foreclosure for the bank. We felt the Judge made the wrong ruling, so we appealed the case. During the appeal, the client tried for another modification, and without much of a hassle from the bank, she was approved!

Most banks don’t like to be appealed, especially when they know they should have lost to begin with. Applying for a modification, after a foreclosure judgment has been entered, sometimes allows a client to receive a loan modification when they were previously denied because the bank knows there is a higher risk of them losing on appeal. While it’s safer to get the modification before a foreclosure judgment, sometimes applying for a modification after judgment and during an appeal gives the borrower a little more leverage to save their home. Come and speak with the Fort Lauderdale foreclosure attorneys at Loan Lawyers to see how we can help you keep your home.