The State of Florida, in conjunction with 48 other states and the US Department of Justice recently entered into the National Mortgage Settlement (NMS), a historic mortgage settlement with the above five national lenders which results in certain benefits and programs available to their mortgage borrowers who meet certain initial criteria.
If you are interested in:
then please consider the opportunities that are being made available to you by this historic settlement:
Example: Interest rate reduction: $200,000 existing mortgage at 6.25% amortized over 30 years: Monthly mortgage payment is $1,209.12. Reducing the interest rate to 4.25% results in a monthly mortgage payment of $974.46, a monthly savings of $234.66 and a yearly savings of $2,815.92.
Example: Interest rate reduction coupled with principal reduction: $200,000 existing mortgage on a home valued at $150,000. Principal reduction of $80,000, to an 80% Loan-to-Value ratio (mortgage balance reduced to $120,000). $120,000 modified mortgage with a reduced interest rate of 4.25% fixed and amortized over 30 years results in a monthly payment of $584.68, a monthly savings of $624.48 and a yearly savings of $7,502.88 using the example of refinance and modification of an interest rate and a principal balance reduction.
The largest amount of the NMS ($10 Billion nationwide) has been allocated to at-risk mortgages that are in default, allowing for principal reductions on these mortgages. To qualify* for a principal reduction, the criteria are that the mortgage is in default and at risk together with negative equity.
$3 Billion nationwide has also been allocated to borrowers who are current in their mortgages who want to obtain interest rate reductions but have been unable to do so since they owe more on their mortgages than the current fair market value of the property. Borrowers may qualify* for the interest rate reduction program if:
Please contact the Law Office of Kevin F. Jursinski & Associations to obtain free information on the MIRROR Programsm or to schedule and appointment to determine if you qualify for the proceeds of the National Mortgage Settlement.
*Please note: These are preliminary criteria and may be interpreted differently by your lender.
Kevin F. Jursinski is recognized by the objective rating services of Martindale Hubbell as one of Southwest Florida's premier attorneys. He has concentrated more than 35 years of practice in the area of real estate, business and construction law in Naples and Fort Myers.
Firm Partner, Kara Jursinski Murphy, focuses her area of practice on Real Estate Litigation, Business Litigation and Real Estate and Business Transactional Law. Kara has earned the highly-esteemed designation of Board Certified Specialist (B.C.S.) and Expert in Real Estate by the Florida Bar. This certification recognizes attorneys who have special knowledge, skills and proficiency in various areas of law, including Real Estate, and professionalism and ethics in practice...
Associate Attorney, Michelle “Micki” Hurvitz, practices in the areas of Real Estate Litigation and Business Litigation.
William Ryan Murphy focuses his practice in the areas of Real Estate, Business and Construction Law.
My sister and I did a long distance purchase of a condo in Florida in June 2018 and we used the KFJLaw office to handle the details. From the first phone call to picking up the keys, their staff were always friendly and helpful.- Julie
Kevin and his associate Janine Decker did a great job in helping me close a property in SWFL. They were always available to answer my questions. I definitely recommend them.- Katherine
Kevin was my Attorney when I lived in Fort Myers and even after I moved To Denver he wrapped up my Florida deals with extreme professionalism. I am glad to see he is still doing the outstanding job he has always done.- David
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