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MIAMILAW1127, Lawyer
Category: Real Estate Law
Satisfied Customers: 755
Experience:  Founding Partner at Moises Law, P.A.
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In regards to an equity loan that has matured with bank of

Customer Question

In regards ***** ***** equity loan that has matured with bank of America and now they refuse to
renew instead have forced us into a lawn modification for 180 months for $643.68 on an $82,000.00 owed, original equity loan was for $95,000.00. Do I have options? They are wanting us to sign this loan modification agreement right now
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  MIAMILAW1127 replied 1 year ago.

Hello. Thank you for contacting me. I am a consultant here and I am looking forward to assisting you with your question. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Please be patient as I will be typing my responses to you from scratch. Also, I can only answer/address the questions you ask specifically based on the information your provide. Please try to provide as much information as possible so I can best assist you.

If you are upside-down on the property, you face the potential of foreclosure if you don't do the loan modification. You may be able to short-sale the property to get out of it, but I believe that a modification would likely be your best bet.

I hope this helps. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Thank you.