How Long Do Loan Modifications Take in Florida?

The purchase of a home is often one of the most significant financial and personal investments an individual can make. To help pay for the cost of the home, buyers will often turn to mortgage loans as a solution. While a mortgage loan may be helpful at the time, it may become difficult to pay back down the road. If you have found yourself in a difficult time and are unable to pay your mortgage loan payments, you may decide to consider a loan modification to avoid foreclosure

The Law Offices of Daryl L. Jones, P.A is a top-rated real estate law firm with experience helping thousands of clients in Florida obtain loan modifications. If you believe a loan modification may be a good option for you, you may wonder how long the process takes in Florida. 

Does the Loan Modification Process in Florida Take a Long Time?

If you are considering a loan modification to avoid foreclosure or the loss of your home, it is important you have a general idea of how long the process will take. Unfortunately, loan modification is not a process that lenders complete in a couple of weeks. The loan modification application process is lengthy and often takes four to six and nine months to complete and to obtain a decision from your lender. The exact length of time will vary depending on the details of your case, your bank, and your and your lawyer’s ability to efficiently work through the application process. 

While an efficient loan modification process will take several months, you may be able to greatly reduce the time spent in the application process by working with a Florida loan modification lawyer. A knowledgeable lawyer can help you by:

  • Processing your paperwork more efficiently
  • Presenting your application in the way that your lender wants it
  • Knowing from experience what your lender is typically willing and able to agree to

If you are considering a loan modification, it is important you speak with a loan modification lawyer who has expert knowledge of the process and can help position your application to reach approval quicker. 

What Questions Should You Ask During the Loan Modification Process?

A loan modification lawyer can help you through each step of the application process. When you begin the process, there are several questions that you should ask:

  • Ask how long the process is likely to take in terms of the best and worst-case scenarios for your specific case
  • Ask when you can expect to receive updates regarding your application and mark those dates on your calendar
  • Ask who you should contact if you do not receive any updates regarding your loan modification application. Get the name and contact information of the person you should call if you do not get an update. 
  • Ask what you should do to help your application while you are waiting

Working with a trusted loan modification lawyer will give you peace of mind as you go through the overwhelming application process. 

Get Help From a Florida Loan Modification Lawyer

A loan modification is an option that can benefit you and your lender when you are unable to make your loan payments on your home. To get help with the loan modification process, contact a Florida loan modification lawyer as soon as possible. 

The Law Offices of Daryl L. Jones, P.A is a Florida real estate law firm that has helped thousands of clients obtain loan modifications. Attorney Daryl L. Jones is dedicated to helping clients understand their options when they are no longer able to meet their mortgage loan payments. To speak with a trusted loan modification lawyer, contact us here or call (305) 969-3602.

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