Back in 2013, the Southern District of Florida Bankruptcy Courts introduced the Loan Modification Mediation Program (LMM for short) to South Florida individuals. This program was available to those who filed before April 1, 2013 for 5 months and to anyone who filed after April 1, 2013 and qualified. The program's introduction caused [...]
If you are having trouble making your monthly mortgage payments, a loan modification may be a good option for you. Loan modifications are a good option for people who have had a loss in income or an increase in their monthly expenses. A loan modification requires a lot of communication with the bank [...]
Most people think that bankruptcy court mortgage modification is just another government program that will substantially contain the same tough eligibility requirements and the many time's ineffective government programs like HOPE, HARP, and the Making Home Affordable Programs of the last few years. The Loss Mitigation Mediation Program, commonly known as the LMM [...]
The bankruptcy court of the Southern District of Florida, which includes cases from Key West to West Palm Beach, has approved a new foreclosure mediation program. The loss mitigation program or (LMM) is foreclosure program supervised by the court help borrowers and lenders negotiate loan modifications and other loss mitigation alternatives and was [...]
The Southern District Division of the Florida Bankruptcy Court, including the counties of Monroe, Miami-Dade, Broward, and Palm Beach County, now allows for loss mitigation options to be negotiated through the bankruptcy court system including the modification of mortgages as of April 1, 2013. The purpose of the LMM program in the bankruptcy [...]
One of the most common subjects of conversation in my office revolves around a discussion of what to do with the property of a client who has promised to make mortgage payments to a bank but has fallen behind on these payments. Most often the scenario involves a principal residence or investment home [...]
