Practice Areas

We understand that there are few things scarier than losing your home in foreclosure. But there is hope. Foreclosure defense is about stopping foreclosure long enough to save your home. And if you can’t save it, or don’t want to, foreclosure defense is about getting you the time you need to
leave on your terms, not the bank’s.

Are you behind on mortgage payments? You can be sure to count on our skilled team to help you explore alternatives such as mortgage modifications and refinancing. If there is a foreclosure proceeding against you, we will be with you every step of the way. The Romanello Law Firm works with you to provide resourceful solutions that may permit you to keep your home or, at a minimum, get the most out of any value you have previously built into your property.

The State of Connecticut recognizes the potential social and financial consequences of widespread foreclosure, and therefore, strives to keep as many homeowners as possible in their homes. As a result, homeowners can apply for state-sponsored loans or funding that can help bring them current on delinquent mortgage payments or assist them in offsetting higher interest payments on variable-rate loans. The Romanello Law Firm can explain how these programs work and, if you qualify, help you apply for assistance. Some of the specific programs that may be available to you include:

• Foreclosure Mediation
• Loan Modifications
• Emergency Mortgage Assistance Program
• Connecticut Fair Alternative Mortgage Lending Initiative and Education Services

In general, banks are willing to work with homeowners, when they believe they stand to recover more money through a loan modification than if they foreclose on a home. Loan modifications are usually reserved for homeowners who are in financial distress or have high rate mortgages. By maintaining strong relationships in the community, opening channels of communication, and bringing attention to your financial situation, we are often able to work out loan modifications
with local and national banks.

The worst thing that you can do for yourself and your family is ignore a foreclosure action that is brought against you.  Act now and let us protect you from Foreclosure.

MORTGAGE MODIFICATION

A Mortgage Loan Modification permanently changes the terms of your original mortgage loan. It is intended to make your monthly payments or mortgage terms more manageable, and typically results in a lower monthly payment. Typically, the terms that that may be changed in a mortgage loan modification include the interest rate, the term of the loan and/or the possibility of deferment or even forgiveness of arrears.

Navigating through these modification programs and dealing with the lenders’ processes can be difficult. The Romanello Law Firm is experienced in all aspects of mortgage modifications. We aggressively represent many clients who need mortgage modifications. We have been able to successfully procure various types of mortgage modifications for our clients including, but not limited to:

• Reducing or modifying the interest rate
• Extending the term of the loan
• Reducing the principal balance and monthly payment
• Changing the monthly payments
• Combining any of the above

Even if you have been denied once, we can ask the lender to review you again if there has been a change in your circumstances and to ensure the lender has not made an error in its analysis.

SHORT SALE

A short sale is the sale of real estate where the lender agrees to accept less than the amount owed on the mortgage as part of an agreed-upon sale, instead of completing a foreclosure action of the property.

If you are falling behind on mortgage payments, getting your mortgage lender to agree to take a fair market offer and release you from your outstanding mortgage may be one of your best options. Short sales are extremely important because, when done properly, they have the potential to allow a property owner to avoid bankruptcy and foreclosure, even if the property owner owes more to the lender than the property is worth.

Our law firm works hard to protect your interests and investments. We can help you decide which foreclosure alternatives may be available to you, including loan modification, deed-in-lieu or short sale. Our firm will also ensure that the bank does not complete the foreclosure process and take title to your home while you are being reviewed for these options.

You will benefit greatly from having a qualified team of experts on your side while going through this process.