Recently, a procedure has been implemented, which allows an individual who filed for Chapter 13 Bankruptcy to have a Court ordered mediation for the purposes of applying for loan modifications, specifically under the Making Homes Affordable Program (HAMP). The Chapter 13 Bankruptcy forum provides for a structured application process, which results in a timely outcome, without many of the frustrations associated with the usual loan modification process. Although some individuals may not qualify under the HAMP program, most banks have their own comparable loan modification programs which are used to assist individuals in Chapter 13 bankruptcy.
The Orlando bankruptcy attorney at Tudhope Law in Central Florida, has been helping Chapter 13 bankruptcy clients with home loan modifications by working with representatives of the bank on their behalf, and attending an in person mediation to help them to negotiate a loan modification for their home.
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