Mortgage Forbearance Programs
With the current economic downturn and recession, many families are struggling to make ends meet. In many cases, they may be unable to continue making payments on their mortgage so they can stay in their home. There were many causes to the housing bubble burst and the recent increase in home foreclosure from high interest rates to sub-prime mortgage loans. If you are facing the possibility of foreclosure you do have options. Forbearance is an agreement between a lender and borrower that can delay foreclosure.
The Obama administration has issued new laws that require mortgage lenders to increase forbearance lengths to those who are unemployed to give them more time to get a job and start paying off their debt. If you are facing the possibility of foreclosure and want to discuss your legal options so you can keep your home, contact the Boca Raton foreclosure defense lawyers of Eric N. Klein & Associates, P.A., at 561-353-2800 today and let one of our attorneys fight for you.
Refinancing and Keeping Your Home
In many cases, a homeowner can get back on top of their payments if they simply have a little more time to either find a job or regain control of their finances. Forbearance programs exist for just this reason. Refinancing your mortgage can benefit you in the following ways:
- Reworking and sometimes reducing your monthly payments
- Giving you more time to make payments
Forbearance is just one of the many options a qualified attorney can discuss with you, so contact us today to ensure that you are properly informed about your rights.
Contact Us
Do not hesitate to take control of your own future. Contact the Boca Raton foreclosure defense lawyers of Eric N. Klein & Associates, P.A., by calling 561-353-2800.
