Reed Law Firm, P.A. - bankruptcy

Columbia: 803-807-2565

Florence: 843-536-0073

How To Avoid The Mortgage Modification Run-Around

You may be one of the tens of thousands of homeowners who tried to get a mortgage modification from your bank, only to receive the runaround. The longer the bank can drag its feet, the longer it can keep charging you the same high mortgage payments. One of the most common tactics is to ask you to resend the same documents over and over.

Here are some ways you can get off the merry-go-round:

Here are some ways you can get off the merry-go-round:

  • Hire an attorney. Homeowners who hire attorneys are more successful in obtaining mortgage modifications than those who don't. An attorney can explain all of the mortgage modification options available to you. He or she can also keep good records of what information you sent to the bank and how you sent it.
  • Declare bankruptcy. When you declare bankruptcy, you can submit your mortgage modifications documents electronically. At the same time, you can wipe out debts such as credit card bills, hospital bills and some loans, making it easier to keep up payments on the house you want to keep.

The federal government's Making Home Affordable Program includes a variety of options to South Carolina homeowners that can help you reduce your mortgage payments:

  • The Home Affordable Modification Program (HAMP), which allows you to reduce your interest rate or the amount owed.
  • The Home Affordable Refinance Program (HARP), which helps you reduce your mortgage if owe more than your house is worth.
  • The Home Affordable Foreclosure Alternatives program (HAFA), which helps you avoid foreclosure by obtaining a short sale or deed in lieu of foreclosure. This program also provides $10,000 in relocation assistance.
  • The Home Affordable Unemployment Program (UP), which can reduce or temporarily stop your payments if you lose your job.
  • Hardest Hit Fund (HHF), which provide assistance to states like South Carolina that have hard hit by foreclosures.

The Reed Law Firm helps homeowners in South Carolina who are seeking home modifications. The firm has offices in Florence and Columbia.

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Columbia Law Office
220 Stoneridge Drive, Suite 301
Columbia, SC 29210

Phone: 803-807-2565
Fax: 803-726-4887
Columbia Law Office Map

Florence Law Office
1807 West Evans Street, Suite B
Florence, SC 29501

Toll Free: 843-536-0073
Fax: 843-679-0667
Florence Law Office Map