In an effort to continue to provide meaningful solutions to the housing crisis, effective June 1, 2012, the Obama Administration expanded the population of homeowners that may be eligible for the Home Affordable Modification Program to include:

    • Homeowners who are applying for a modification on a home that is not their primary residence, but the property is currently rented or the homeowner intends to rent it.
    • Homeowners who previously did not qualify for HAMP because their debt-to-income ratio was 31% or lower.
    • Homeowners who previously received a HAMP trial period plan, but defaulted in their trial payments.
    • Homeowners who previously received a HAMP permanent modification, but defaulted in their payments, therefore losing good standing.

If you are a homeowner who falls into any of these criteria, you may be eligible for a modification under the expanded criteria. Please contact my office to see if you are eligible to begin the HAMP evaluation process. I can help.

Debra G. Simms
Daytona Beach
Call now:  Toll free: 1-877-447-4667
Debra G. Simms

Florida Housing Market Crash

florida foreclosure lawyerIt’s old news that the financial crisis and the housing market created devastating consequences for homeowners and communities throughout the country. Workers who have lost their jobs or had their hours cut are struggling to stay current on their mortgage payments. Refinancing to lower mortgage rates is not an option for even those with a steady income because in many cases the property isn’t worth what’s currently owed. Millions of families are expected to face foreclosure and bankruptcy in the next several years.

Homeowner’s Affordable Modification Program (HAMP)

In the meantime, it has been reported that the Obama Administration’s ambitious Homeowner’s Affordable Modification Program (HAMP), implemented to offer assistance to as many as 7 million homeowners, has reached only a few hundred thousand families and only on a temporary basis.

Adding insult to injury, last month the U.S. House of Representatives defeated the so called “cram down” provision to a financial reform package that would have temporarily allowed bankruptcy judges to adjust the value of a mortgage to reflect the current value of the home.
Maybe Washington will help us after all. Last night, in his State of the Union address, President Obama pledged in one simple sentence in an entire speech, “This year, we will step up refinancing so that Homeowners can move into more affordable mortgages.” Now, that’s good news, right?
The Supreme Court of Florida, at least, is forcing the banks to talk to their customers before they can foreclose on their home. A new administrative order mandates mediation in every foreclosure case and requires that a representative from the bank, not just their lawyer, actually be there to talk. This is good news, right?
Debra G. Simms
Need a foreclosure lawyer? To contact attorney Debra G. Simms, P.A. in Port Orange or New Smyrna Beach, FL please call 877.447.4667.

Contact Us

Port Orange Office:
Prestige Executive Center
823 Dunlawton Ave. Unit C
Port Orange, FL 32129
Local: 386.256.4882
Toll Free: 877.447.4667
New Smyrna Beach Office:
817 E. 7th Ave
New Smyrna Beach FL, 32169
Local: 386.256.4882
Toll Free: 877.447.4667