A legal instrument available for all cases of bankruptcy and all types of properties, mortgage modification mediation procedures allows a lender and a debtor in default to work out a mutually satisfying loan modification and repayment plan.
Relying on a mediator chosen by both sides, mediation proceedings are generally expected to conclude within 150 days (unless extended by both parties) and end in a signed agreement that outlines the provisions of the new loan. However, the modification must be approved by the Bankruptcy Court before it is binding and thus enforceable.
When successful, Mortgage Modification Mediation is a viable alternative to foreclosure. However, it does have specific requirements and can fail due to lender inflexibility or a variety of other factors. In mediation, the McCue Law Firm, ensures that all formal requirements and rules necessary for mortgage modification mediation procedures are adhered to, while the final proposal is drafted in a form that is acceptable for the Bankruptcy Court.
Christian and Lisa McCue are law graduates of the Nova Southeastern University, with over forty years of combined experience in handling legal affairs of others, especially in the most difficult areas of finance: Personal bankruptcies, mortgages, foreclosures, and corporate liquidation.
As a married couple, we understand the challenges that financial hardship can present for families. We focus on providing not only competent legal support, but also on helping you manage the emotional upheaval by taking the bulk of the burden off your shoulders.
