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The Law Office of M.E. Ludt, LLC
NATIONWIDE FORECLOSURE DEFENSE ATTORNEYS
 

Services

Foreclosure Defense

Once you have received a Notice of Default (NOD), or a notice of filed foreclosure, only a mortgage mitigation attorney can effectively protect your interests. Once you have reached this stage, having a proven attorney representing you, who is experienced in foreclosure defense and loan modification can be the difference between keeping your home with affordable payments or losing it to foreclosure. Our attorneys have effectively helped hundreds of clients keep their homes, saving them staggering amounts of money in the process.

Your home is one of your most valuable assets! Don't take chances when it comes to protecting it! Get foreclosure help today!

Loan Modification

Loan modifications are the most common type of mortgage relief assistance available today. A loan modification is a temporary or permanent change in one or more of the terms of a loan which allows the loan to be reinstated. This modification results in a lower payment that the borrower can afford. In most cases, a homeowner that can demonstrate need of assistance will qualify for a loan modification. A loan modification is appropriate when the original loan that is secured by the residence has terms that make it difficult or impossible for the homeowner to continue making the monthly payments, therein creating a risk that the residence will be lost. Loan modifications are not the same as debt consolidations, refinance loans, or forbearances. Loan modifications are long term solutions which seek to prevent hardship from threatening the budget of a homeowner.

The following list provides some examples of ways that a mortgage loan can be modified:
  • Change interest rate from variable to fixed interest rate
  • Reduce a fixed interest rate to a lower fixed interest rate
  • Reduce the principal balance
  • Reduce adjustable interest rate/reduce CAPS of adjustable interest rate
  • Stop upward adjustment of adjustable interest rate
  • Arrange for delinquent payment amounts to be added to the end of loan
  • Arrange for delinquent payment amounts to be added to a longer loan period
  • Arrange for delinquent payment amounts to be accepted in an alternative payment plan
  • Arrange for the lender to accept a discounted pay-off or forbearance  


Mortgage Mitigation

Our objective is to keep every homeowner in their home who wishes to stay in their home. However, sometimes circumstances make that impossible and some of our clients simply no longer wish to keep their property.  In these instances, we will negotiate on your behalf to resolve your mortgage in a manner which can save you and your family from a great deal of ongoing grief, expense, and damage to your credit. We will also negotiate on your behalf to orchestrate a smooth transition which allows you additional time and cash for moving expenses. These resolutions may include any of the following elements:
  • Deed in Lieu of Foreclosure
  • Deficiency Balance Settlement
  • Short Payoff/Sale
  • Additional Time  
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