Sometimes things happen that are out of our control, like getting hit with an unexpected medical bill or losing your job. If you’ve ever been in this position, you know that it can drastically affect all aspects of your life, including threatening your ability to keep your home. If you’re a homeowner struggling to pay your mortgage and to avoid foreclosure, you’re probably starting to feel stressed and worried about the future. But, even though you are going through a difficult time, it’s important to remember that you have options available. One of the options you have is called a mortgage (or loan) modification.

A mortgage modification can help save your home. It is the process by which your lender agrees to lower your monthly mortgage payment—but as simple as it sounds, getting the lender to approve it can actually be a tricky process. So, what are some of the best ways to go about getting approved? How can you better your chances? Here we discuss some of our best tips on how to successfully obtain a mortgage modification.

When applying for a mortgage modification, it’s important to make sure you have all of your bases covered by professionals. Here at Rodriguez Law, we can assist you in maximizing your chances of getting the modification approved.

Missing an important piece of paperwork or submitting your application before it’s ready can cause it to get denied or delayed, and leave you feeling stranded in the dark. That’s why it’s always a good idea to make sure you are working with a professional to help guide you through the process and ensure that your interests are properly represented.

Keeping track of every last document will help ensure that you can properly fill out your application in order to help your lender determine whether or not you qualify for a modification. Making sure you have a full record of all correspondence will also help in the process because lenders can take a long time to get back to you. If you have everything together, then you can regularly follow up with all of your documents without the risk of the lender losing something key to your application.

Although you are applying for a mortgage modification because you have fallen on hard times, it is still very important to make sure you keep your credit score rating as high as possible because it will impact whether you are approved for the modification or not. Make sure you check your score and re-evaluate what might be bringing it down.

During the modification process, it’s common for lenders to request applicants to submit a hardship letter. A hardship letter explains why you are applying for, and need, the modification to your mortgage. This document is key to getting your loan modification approved, so it’s important to make sure you spend time on it and include every hardship that led to your current struggles. Make sure to proofread the letter and consult with us about the effectiveness of your letter.

At Rodriguez Law, we understand how confusing and stressful the mortgage modification process can be. That’s why we make it our goal to work with our clients to find the best solutions and achieve the most positive outcomes possible. If you are a Florida homeowner and are struggling to pay your mortgage, please don’t hesitate to contact us at (305) 262-8226 or visit https://trustrlpl.com/contact-us/ today to schedule a free initial consultation.