Lower your excessive mortgage modification payments
Are your mortgage modification payments too high? Do you struggle to make the payments, and often wonder if there is anything you can do to lower them? In the state of Florida, you are not alone. The good news is that your excessive mortgage modification payments can be lowered in certain instances. Hiring an experienced Miami foreclosure defense attorney will allow you to become aware of your options, and take the best course of action moving forward.
Are you paying more due to force-placed insurance?
Oftentimes, we see clients paying a premium that far exceeds the amount they should be paying. This is sometimes due to a process known as force-placed insurance, also known as creditor-placed or lender-placed insurance. Basically, if there is an issue with the existing insurance purchased by the homeowner, the lender can purchase an insurance premium of their choice and “force” the burden to pay on the borrower. This results in a higher payment than what the individual would be paying had they purchased the insurance on their own, with far less coverage on personal items, owner liability, and more. If this sounds like something that could be happening to you, Graham Legal may be able to help.
How can I lower my payments?
If you are paying a force-placed insurance premium, finding another insurance plan may lower your payments and help relieve the financial burden that you feel. Once you complete your trial payment period and receive your permanent modification, Graham Legal can guide you towards obtaining a lower priced insurance policy of your own.
If you’re suffering from high mortgage modification payments, Graham Legal invites you to set up an initial consultation with a knowledgeable Miami foreclosure defense attorney on our staff. We will explore the specifics of your case, make you aware of all your options, and then take the appropriate steps moving forward with your best interests in mind. For more information on how we can help, contact Graham Legal today.