How does Mortgage Modification Mediation Work?
In this video, attorney Charlie Price gives more details about how the Mortgage Modification Mediation process works. Generally, the goal payment after the mediation process is 31% of your gross income. They call it a P.I.T.I. (Principle, Interest, Taxes, and Insurance). It also includes your homeowner association dues. If that payment is lower than your current payment, your lawyers can lower your interest rate, extend the term of your payments, or even get rid of some of the principal. There are numerous different mediation programs; Price Law Firm itself has an entire department devoted to nothing but mortgage modification.
Hire a Central Florida Bankruptcy Attorney
If you or someone you love is struggling with debt, the Orlando bankruptcy lawyers at the Price Law Firm can help. Visit our website or call us at 407-834-0090 for a free consultation.