Jacksonville Foreclosure Alternative- Loan Modification

Are you struggling with your mortgage loan payments and fear you may lose your home in the near future? You are not alone in this concern. Jacksonville residents are in fear of foreclosure in the face of mounting debt every single day. Whatever your reason for falling behind on your payments, the sooner you take action and begin working with your bank, the better and more favorable financial arrangement you can set up to get back on track. Jacksonville foreclosures are a very scary thing—not only does it mean the loss of your home but it also has a huge impact on your credit for years to come. A loan modification is a great option to get back on track with your payments and avoid foreclosure completely. Jacksonville Foreclosure and Modification Attorney Robert Peters can help make this a reality.

Simply put, a loan modification allows you to restructure your original unmanageable loan terms to an agreed upon amount you can actually afford. A loan modification can take a variety of forms including changing the rate all together, keeping the current rate but extending the length of your loan or adding your outstanding payments to your balance. Below is a look at some of the key advantages and features of a Jacksonville loan modification:

  • Keeps you in your house: for many of my clients, the most important advantage of a loan modification is the ability to stay in your house and stop worrying about an impending foreclosure and eviction. After all, you house is your home and staying in it not only not only allows you to protect one of your most valuable investments but also provides stability for your loved ones that live with you.
  • Manageable monthly payments: When you work out a loan modification with your attorney and lender, you come up with a figure that actually works for you. Gone are the days of stressing out about not having the money to make a payment and watching your outstanding balance rise by the day. Getting back on track with your monthly mortgage payments also lets many get on track with their other outstanding financial obligations and begin living within a budget that works for them and their family.
  • No impact on your credit: A foreclosure on your credit report is a negative mark that stays with you for seven years. The inability to obtain credit or buy another house in the near future as the result of a foreclosure proceeding on your record is a major concern for many. A loan modification can actually help get your credit score back up when you start making your monthly payments in full and on time every month. Imagine that!

A loan modification is often the most desirable alternative to a foreclosure. Why? Because banks are much more likely to agree to one when you are not too far behind on payments and have proof that you can pay under the proposed terms going forward. With that in mind, the sooner you get in touch with Attorney Robert Peters the better. I have years of experience successfully negotiating loan modifications for clients. The best option to avoid foreclosure depends on your individual situation and I always go over every available option when I meet with new clients for the first time.

Attorney Robert Peters

Jacksonville based Attorney Robert Peters is the only call you need to make to put your foreclosure concerns to rest. Your first consultation with me is always on the house so don’t hesitate to give me a call today at (904) 421-6907 or email at michelle.peterslaw@gmail.com and let’s begin working to get you back on track today! I look forward to working with you!

Check us out online at www.RestartYourLifeJax.com

Florida Foreclosure – Loss Mitigation Options

Frustration. Confusion. Embarrassment. Helplessness. All those feelings are completely normal when falling behind on your mortgage payments and facing a potential foreclosure. The bottom line is this: you have options available to you and working with an experienced attorney can help ensure that you avoid a foreclosure proceeding and get back on track. But you must take action! Seasoned bankruptcy attorney Robert Peters can help you work with your lender to get the financial fresh start you have been dreaming of. Don’t let the stress of a looming foreclosure rule your life any longer, give Robert Peters a call today at 904-421-6907.

Some alternatives to a Florida foreclosure include: loss mitigation, loan modification, short sale, refinancing, rate freeze and deed in lieu of foreclosure. Which specific option is best for you and your family depends on a thorough analysis of your current and future financial situation, among other things. As logic would have it, the further you are in debt you can’t pay back, the fewer options you have available to you. Even if you have already been served with a foreclosure notice, there are still multiple options available to you to avoid a foreclosure!

Loss mitigation is one such option that is great for individuals and families that may have been potentially derailed from their monthly mortgage payments but have the ability to get back on track, if given the opportunity and some time. For instance, did an unforeseen medical bill or other expense throw your finances off for a few months and you just need a little time to catch up? Or perhaps you or your spouse lost your job but have since found employment? If some version of those hypothetical situations mirror your own, then Robert Peters can help work with you and your lender to make this option a reality. Here’s a look at some ways creditors and debtors structure a loss mitigation arrangements that works for both parties:

  • Catch up payments spread over a period of time
  • Attach your delinquent payments to the end of your loan (thus extending your loan by a few months)
  • Set up a “payment holiday”
  • Debt forgivenss which eliminates a portion of the balance owed
  • Reduction of interest rate

Time is of the essence when it comes to a potential foreclosure so don’t hesitate to give attorney Robert Peters a call today at 904-421-6907. Setting up a loss mitigation arrangement allows you to not only stay in your home or condo but also keep your credit report clean and free of a nasty foreclosure mark that would stay with you for seven years. Like a lot of the alternatives to a Florida foreclosure, loss mitigation requires organization and skillful negotiation with your lender to show that this arrangement is in their best interest. Not only will the bank want to hear the reason for any late or missed payments (and how that reason has been fixed or handled on the financial end) but they will also want documentation that you are able to make all of your mortgage payments going forward. This documentation usually comes in the form of income statements and other financial documents. Mistakes and missed deadlines can be the difference between an accepted and denied loss mitigation application so leave this paperwork-heavy process in the hands of an experienced attorney like Robert Peters.

Robert Peters, Attorney

Attorney, CPA, credit counselor-you receive the benefits of all this training and more when you hire Robert Peters to help with your foreclosure defense. Your initial consultation is always on the house. Serving Jacksonville and Fernandina Beach and surrounding areas, I have helped many clients set up a loss mitigation arrangement in the past and will work hard to get the same great results for you. Give me a call today at (904) 421-6907 or visit my website at www.RestartYourLifeJax.com — I look forward to working with you!

Deed-in-Lieu Foreclosure- Jacksonville & Fernandina Beach Foreclosure Attorney

What am I going to do now? How do I make all this go away? When will I be out of debt? Will I ever be able to own a home again? How will a foreclosure impact my credit? Are there any options left?

If these are some of the questions that occupy your daily thoughts then it is time to work towards a financial fresh start with Florida attorney Robert Peters. I understand that you feel like you have the weight of the world on your shoulders and feel like there is nowhere to turn but that is simply not the truth—you have options when facing a Florida foreclosure. Robert Peters can help you handle whatever debt issue you and your family may be dealing with and come up with a plan that gets you debt free once and for all.

A Florida Foreclosure can be a very scary prospect and whether you are behind on just a few payments or seriously delinquent and facing a foreclosure in the very near future, working with an experienced attorney represents your best chance of coming up (and being granted) the best solution for you and your family. For many of my clients I work with to help with their foreclosure defense they have two main concerns they express to me during our initial conversation: 1.) Questions about how a foreclosure will impact their credit score and their ability to obtain credit going forward; 2.) Questions surrounding finally getting out of debt for good—something they never thought would actually be possible given their current situation.

Concerns about your credit following a foreclosure are definitely not misplaced and it is a conversation I have with all of my clients. A foreclosure is not only a glaring negative mark on your FICO score but it also stays there for a very long time—seven years to be exact. One way to help avoid the blemish of a foreclosure and finally be done with your mortgage payments is to actually sell your house back to your mortgage lender that has been giving you all your headaches lately. This is known as a deed-in-lieu of foreclosure. Here’s a quick look at some of the main benefits of this type of mortgage conveyance:

  • Immediate settlement of all your outstanding debt on your defaulted loan
  • Less public than a foreclosure proceeding
  • Less of an impact on your credit score than a foreclosure
  • Oftentimes mortgage lenders will pay you cash for keys

A deed-in-lieu foreclosure, although rarely granted, can also be an attractive proposition to a lender over a foreclosure because it greatly cuts down and the time and cost associated with a formal foreclosure proceeding. Other ways to avoid a Jacksonville or Fernandina Beach foreclosure include applying for a loan modification or forbearance and doing a short sale. The best option for you really depends on your current and future financial situation. Whenever you meet with me for any debt management issue, I always present you with all the options. If you are curious about a Florida deed-in-lieu foreclosure or other ways to avoid a foreclosure proceeding, give attorney Robert Peters a call today at 904-421-6907 to discuss your options and how he can help.

Robert Peters Attorney

Looking for help conquering your seemingly insurmountable debts? Look no further than Florida attorney Robert Peters. Serving Jacksonville, Fernandina Beach and the surrounding areas Robert Peters is here to help you start fresh and find the best debt management solution for you and your family. Give me a call today at (904) 421-6907 and let’s begin working towards a solution that works for you and your family. I look forward to speaking with you!

Avoiding A Florida Foreclosure – Getting Organized

If seeing “Past Due” stamped in bright red letters on your monthly bills is an all too familiar site then keep reading this blog. Fear of a potential foreclosure is a major concern that consumes many Floridians every day. Jacksonville Foreclosure Defense Attorney Robert Peters can help you not only avoid foreclosure but also get the financial fresh start you and your family have been dreaming of.

Here’s a little secret many of my clients don’t realize until they meet with me for the first time: a foreclosure proceeding is actually a huge financial and legal headache for banks that they would much rather avoid when presented with a desirable alternative. With that in mind, many of the attractive alternatives to a Florida foreclosure are actually desirable to your lender as well because it helps them to get some or all of their money faster and cheaper and faster than filing a foreclosure proceeding. There are a lot of options when it comes to avoiding a foreclosure and the best option for you ultimately depends on your individual situation and goals. At your free initial consultation with me, I always go over every available option and answer all your questions and concerns in plain English. Some of these options include: loan modification, loan forbearance, short sale and a deed-in-lieu foreclosure. I even wrote a book on foreclosure which you can find on my website by clicking HERE.

No matter which option you choose to pursue to avoid a foreclosure proceeding, the first step after giving Attorney Robert Peters a call is getting organized. You read that right—take some time to get organized and take action! Many of my clients do not even know how many payments they have missed or an amount they could actually afford on a monthly basis. I get it—falling into debt is an emotional and confusing process that makes it difficult to stay organized and on top of things. Many individuals are behind on payments for reasons that were outside of their control (i.e., unplanned medical issues or job loss) and their mortgage is just one of many things they need to get a handle on again. Here are some helpful questions to think about and answer to help get you and your family organized:

  • Why did you fall behind on your payments?
  • What is the current outstanding balance on your mortgage?
  • Are you “under water”?
  • What does your future financial situation look like?
  • What monthly payment amount could you afford?
  • What are your biggest concerns when it comes to a potential foreclosure?
  • What is the nature of your other debts and outstanding obligations?

Let those questions above be a helpful guide rather than another intimidating reminder of your current financial situation. The biggest mistake so many individuals make in any debt situation is failing to act. That reaction (or lack thereof) is totally understandable but ultimately makes the potential for a foreclosure a reality when it does not necessarily have to be. Working Jacksonville Florida Attorney Robert Peters will not only help you get organized and come up with a solution that works for you but will also help you get back on track once and for all.

Attorney Robert Peters

Let my years of experience helping clients get out of debt help you achieve the same result. The sooner you act, the more options you have so be sure to pick up the phone today and give me a call at (904) 421-6907 or email michelle.peterslaw@gmail.com. In addition to my legal background, I am also a CPA and credit counselor. I am passionate about helping individuals and families get back on track and will work hard to get you the results you are seeking. I look forward to hearing from you!


Fernandina Beach Attorney– Elements of a Short Sale

Unfortunately, many people fall prey to the numerous misconceptions about Florida short sales, resulting in their failure to pursue these means as a valid debt relief option. As an attorney that focuses heavily on representing those facing debt relief issues, I have heard all of them. The good news is that a Fernandina Beach short sale is a great option for a lot of homeowners that owe more money on their house or condo than it is worth. Accordingly, the following is a quick rundown of how a Fernandina Beach short sale proceeds:

  • Meet with Attorney Robert Peters: When trying to get a handle on your outstanding debts, working with attorney Robert Peters starts with a free consultation to go over your financial situation, your legal and financial goals, and all of the options available to you. If a short sale is the best option for you and your family, he will work on negotiating with the lender as well as the other important aspects of making sure you are approved for a short sale.
  • Providing Finances: When it comes to Fernandina Beach short sales, the amount of money you owe on your home or condo is more than the market value of the actual property. Other paperwork you will need to work with your attorney to prepare includes an accurate and up-to-date snapshot of all your finances showing that you are under a financial hardship and unable to keep up with your payments. Paystubs, other outstanding bills and bank statements usually make up the bulk of the hardship paperwork in short sale cases.
  • Determining Property Value: As mentioned above, to qualify for a short sale, you must owe more than your house or condo is currently worth and be late at least 3 payments. Upon receiving your initial request for a short sale, your mortgage lender will immediately order an appraisal of the property from one of their preferred companies to determine the value of your property. so you can get your property on the market as soon as possible.
  • Bona Fide Offer: Working with a real estate agent and your attorney to find someone who can and wants to buy your property is the next important step in the process. A bona fide offer in a short sale is a little different than a traditional sale in that everyone who has any interest in your property will need to approve the sale of your property – this includes your bank but also anyone that may have a lien against your property as well.
  • Necessary Approvals: Even if you qualify, have shown a hardship, and found a willing buyer, you still need to secure the necessary approvals from your bank to proceed with a short sale. This involves careful negotiations that the short sale is in all parties (including 2nd mortgages) best interest and best left to an experienced attorney to make sure the conversation goes favorably to you.

While the name certainly implies otherwise, a short sale can actually be a lengthy process because of the need to work with third parties, your bank and others on the approval to handle your debt in this matter. For this reason and many others, working with an experienced attorney is always your best option and handling any debt situation. Robert Peters Attorney can help.

If you would like to learn more about Short Sales, check out my book “the Florida Short Sale Survival Guide” by clicking HERE.

Robert Peters Attorney

When dealing with any type of debt situation, you want to make sure you learn about all of the options available to you before making a decision. As a licensed Florida attorney, a Certified Public Accountant, and a credit counselor—I have the training and track record you want guiding you throughout a short sale. Pick up the phone today and give me a call now at (904) 421-6907 to learn more about your legal options.

A Foreclosure Defense Attorney in Jacksonville that Understands

If you are a homeowner in the Jacksonville, Florida area and are facing a foreclosure due to being unable to pay your mortgage, then you need to talk to a foreclosure defense attorney in Jacksonville that residents trust – one from the firm of Robert Peters.

Steps to Getting and Talking with a Foreclosure Defense Attorney Jacksonville

The first step to getting a handle on your foreclosure problem is to call the firm of Robert Peters to get a free evaluation from the foreclosure defense attorney Jacksonville homeowners can trust to explain all the possible options and answer lawsuit questions.

The next thing the foreclosure defense attorney in Jacksonville will do is defend the foreclosure and discuss with you which option to use, including the choices of a loan modification, a short sale or bankruptcy, depending on your situation. Our skilled lawyers know all the rules and regulations regarding foreclosure and can work with you and your mortgage holder to get a satisfactory solution to your problem.

Foreclosure Lawyers Can Help Stall or Halt the Process

No matter how horrible the situation appears, we can show you that choices are always there and we will help you to find the one right for your situation. In many cases, the foreclosure defense attorneys in Jacksonville in our firm can completely stop or at least slow down the foreclosure process. We understand just how stressful a foreclosure situation is and that when you can’t pay your bills, it can be very traumatic.

We strive to provide supportive and understanding attorneys that know how to be in control of this sort of issue and know how to work to find a suitable solution to make things better for you and your family. Don’t dawdle in calling us to get a consultation, as the longer you delay, the worse the situation will become. Let us at Robert Peters help you to get out from under your financial crisis.

Book an Appointment with Robert Peters Today for Foreclosure Help

Facing a foreclosure alone is not a good situation to put yourself in, as there are many things you can do such as loan modification or other solutions. Let the foreclosure defense attorney other Jacksonville homeowners turn to help you to save your home, call us at Robert Peters Attorney for more information at (904) 421-6907. We truly understand the stress you are under and can provide answers and solutions that can help set your mind at ease.

4 Bankruptcy Mythbusters

For many, considering Bankruptcy can be one of the most frightening financial decisions a consumer makes, but it doesn’t have to be. If I told you that your debts and prior financial mistakes would be completely forgiven, and you will get a clean slate, or according to the bankruptcy code a “fresh start”, would you consider that scarey? . . What I can tell you is that most folks create their own stress about bankruptcy based on unfounded fears. That’s why I want to make sure you know all the facts. That way, you can put your best foot forward as you try to cope with this situation with as much dignity and grace as you could muster. Let’s set the record straight about some of the myths about Bankruptcy

Common Myths

  1. I will lose all of my personal belongings. NOT TRUE! Most of the cases that I file are considered no-asset cases, meaning the trustee determines the debtor has no valuable assets to be liquidated. You see if you file for chapter 7 bankruptcy and qualify, then you get to keep up to $1000.00 per person of your personal belongings, as well as up to $1000.00 towards equity in a vehicle, and any equity in your home is completely off limits. If you don’t have a home with any equity or your rent, each debtor is entitled to keep an additional $4000.00 of personal property. Most folks have car payments leaving no real equity in their vehicles, and let’s be honest, used household furniture is rarely valuable to a trustee, so yard sale values are normally used when valuing household items. If you are one of the rare cases that actually have additional assets, you still have options to keep your belongings. That’s why it is vital that you consult with a Jacksonville, Florida Bankruptcy Attorney about the specifics of your situation.
  2. I will lose my job if I file bankruptcy. This is ridiculous. Under the law, no employer, government or private, can fire you because you file for bankruptcy.
  3. I will never be able to get good credit again. Wrong again! There have been plenty of cases in the past where people who’ve gone through the worst personal financial disasters were able to build their financial reserves back up again and in the process, regained their good credit standing. So it’s not a matter of reading your credit history that’ll convince banks to give you a chance once more. It’s the thought of whether you did something to change that or not, to improve on it or not, that’ll decide the situation in your favor. My personal goal is to get you back on track financially. That’s precisely why I pull both pre-bankruptcy and post-bankruptcy credit reports. I want to make darn sure that your creditors are properly reporting to the credit bureaus after your bankruptcy. If they aren’t, we can file a lawsuit against the creditor to correct your credit reports, and you can be awarded monetary damages.
  4. It’s hard to file for bankruptcy. Not if you’ve got the handy assistance of an excellent attorney, though. For a great choice of a chapter 7 bankruptcy attorney in Jacksonville, you can get in touch with us at Robert Peters Attorney. Call us today for more information.

Stay Informed

If you are considering filing bankruptcy, keep these 4 myths in mind. Don’t be afraid to ask your attorney questions. This way, you’ll have all thefacts as you move forward.

Tips and Hints From a Loan Modification Attorney in Jacksonville

If you are having problems paying your mortgage payment and worry you could lose your home, one thing to consider pursuing is a loan modification. If you are in the Jacksonville, Florida area, you can get advice from a loan modification attorney Jacksonville homeowners can trust – Robert Peters Attorney.

Getting a mortgage loan modification can be very confusing, especially if you are already nervous due to possible foreclosure of your home. That’s why having an experienced loan modification attorney in Jacksonville, like Robert Peters, on your side is a smart choice. You can set up a free consultation to see if you qualify for a mortgage loan modification.

Tips and Hints from a Loan Modification Attorney in Jacksonville

First, make an appointment to speak with a qualified loan modification attorney in Jacksonville by calling the office of Robert Peters to discuss your current situation. Our lawyers will answer any of your questions regarding the proper procedures and explain how each step in the process works.

For instance, you will need to submit financial documentation like paycheck stubs to show hardship in not being able to pay your mortgage on time, as well as a budget and various other financial documents. Robert Peters Attorney will guide you through the process and assist you with filling out the proper forms and explain what they are for. It’s vital to provide all of the requested documentation to avoid delays in the approval process.

Keep in Contact With Your Lawyer

You also should stay in contact with your loan modification attorney in Jacksonville to advise him or her about anything new going on, etc. You need to remain calm and flexible during the process of waiting to get the modification approved. There is a lot that goes into the process and it can take a while to finish since everyone’s situation is slightly different.

Thousands of people in the Jacksonville area are in the same situation and Attorney Robert Peters will do his best to help people like you stay in their homes. He will guide you through the loan modification process to get your mortgage restructured into a more affordable payment.

Banks Robert Peters Attorney Works With on Loan Modifications

So, if you are living in the Jacksonville, Florida area and are suffering with mortgage payments you can’t afford, then talk to us about a loan modification to see if you qualify for the program. So far, our loan modification attorneys in Jacksonville have worked with banks such as Wells Fargo, Chase, Bank of America, Quicken loans, as well as PHH Mortgage, CitiMortgage, and also with Flagstar, Penny Mac and Freedom Mortgage. Call us today at 904-421-6907 or email us at michelle.peterslaw@gmail.com!

The Nitty Gritty of Student Loans

SL PICFor many Florida college students, acquiring student loans is a must. It is easy to find yourself lost in large amounts of debt as student loans have a sense of free money when you are receiving them. However, students must remember that all this money will not only have to be paid back but, paid back with interest.

Most students whether in undergrad or graduate school take out federal unsubsidized Stafford loans. This is a type of loan where the borrower is responsible for the accrued interest. Interest starts to accrue on unsubsidized Stafford loans from the time they are first disbursed. Six months after the student graduates known as the grace period, the first payment and the accrued interest is capitalized.  This basically means the interest is added to the principal balance and interest then start to accrue on the new, larger balance. For more information on the different types of student loans click here.

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How can a Jacksonville Short Sale Attorney help you?

short sale helpIf you are facing a foreclosure on your home in Florida, you should definitely consider doing a short sale. A short sale is when you sell your home for less money than is owed on your mortgage, and the lender forgives the difference on the amount owed.

Short sales have become extremely popular as they are often a win-win for everyone involved. The sellers get to walk away without owing any deficiency balance, as well as no foreclosure on their record, and sometimes get cash back at closing. For buyers, they are getting a home at a reduced price, and there are often other incentives given to buyers for purchasing short sales in the form of lender paid closing costs. Lenders benefit because they don’t have to pay to finish the foreclosure, take back the property, market and maintain the property. It’s a short cut for them. Short sales do typically take longer than the average sale of a home, but if you and your buyers are patient, everyone can benefit from the process.

Continue reading How can a Jacksonville Short Sale Attorney help you?