On The Verge Of Losing Home and In-Home Business

This client is a single mother that runs an Adult Family Home from her house. By the time she reached out to Mary Anderson at Guidance To Justice Law Firm, Inc she was emotionally distraught with the knowledge that she had fallen approximately 12 months behind with her mortgage payments, and is dangerously close to a bank foreclosure. She stood to lose more than a house, as she was not the only person that could potentially become “homeless.” She had a son, as well as four clients residing in her home, as she was their caregiver. Therefore, a bank foreclosure would not have simply affected her living situation in the event of losing her home, but she would have also lost her source of income and the ability to provide for her son.

Attorney, Mary Anderson was successfully able to negotiate with her service provider in order to prevent foreclosure of her home. In fact, around this time-her lender had already set in motion the sale of her home which, at that time was due to take place in less than 120 days. However, the bank would never get an opportunity to “force” her to sell her home. Mary Anderson vigorously negotiated with the lender on her behalf. This client was delightfully astonished with the terms that her lender agreed upon after Mary’s calculated and methodical negotiation process.

Through the client’s loan modification approval her interest rate went from 7.9% to just 2%. Her mortgage payment, which was based on the current market value of her home, as opposed to how much she owed on her home loan at the time-went from $4,002 per month to $2,451 per month. In addition to the above terms of the loan modification agreement, Mary was successfully able to negotiate with the lender to “forgive” a portion of her mortgage loan balance. The amount of her loan forgiveness was around $68,862. That is money that she will never have to pay back, as it is a debt that has been ‘forgiven’ by the service provider.