Delayed and Denied Mortgage Modifications

When you are doing everything you can to keep your house and your head above water financially, a delayed or denied mortgage modification can feel like the end of the world.

With the current economic collapse, more people have applied for mortgage modifications than haven't. Six months could go by while you are waiting to hear the results of your application — it is a very frustrating process.

Contact our attorneys to discuss either the denial of your mortgage modification or an overdue response to your request to modify. We apply our experience and skills to help many hardworking people and families who have run into severe financial challenges look for favorable options.

Delayed mortgage modification application? Sometimes the application process is so prolonged you are not sure what to think. You can take back some control by considering your options.

Denied mortgage modification? One reason for your denied mortgage modification could be that you have too much debt. If you are able to discharge that debt through bankruptcy proceedings, it could enhance the possibility that the bank will grant your mortgage modification request. The issue -- is bankruptcy a viable option?

Excessive debt load? Sometimes the delay in your mortgage modification or modification denial is caused by your excessive debt compared to your monthly income. You may become eligible for a modification by eliminating debt through filing bankruptcy.

Unsecured subordinate mortgages? If you are one of the lucky home owners who have received a mortgage modification on your first mortgage, you may be able to discharge your remaining debt. You may even be able to expunge and cancel your second mortgage and home equity loans.

One option to save your house by stopping the foreclosure action is to restructure your payment plan in Chapter 13 bankruptcy proceedings. You may also be able to liquidate your unsecured debt by filing for Chapter 7 bankruptcy.

In some situations, even when your mortgage modification has been granted, it may still benefit you to file for Chapter 7 or 13 bankruptcy.

Law Firm in Suffolk County Helping With Foreclosure

At Macco & Stern, LLP, our bankruptcy and foreclosure attorneys at our full-service bankruptcy firm are exceptionally well-suited to help you determine the option which best suits your needs.

Please contact our Suffolk County bankruptcy attorney today for a free initial consultation with a knowledgeable attorney. Waiting too long to hear about a mortgage modification application can limit your options.

We are a debt relief agency. We help people obtain relief under the Bankruptcy Code.