Underwater Mortgages

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Protecting Your Rights When Your Home Is Not Worth What You Owe
In the middle of the last decade, property values seemed on an ever-upward path. In addition, mortgage lenders often financed the entire principal amount, and in some instances even financed more than the appraised value of a home. When the recession hit and property values dropped significantly, many homeowners discovered that their homes were no longer worth the amount they still owed on their mortgages. If you are one of those individuals with a mortgage that is now “underwater,” the attorneys at Shaffer & Gaier can help protect your rights.

At the law firm of Shaffer & Gaier, our partners have more than 45 years of collective legal experience. We represent homeowners in Pennsylvania, New Jersey and Florida, handling all types of foreclosure issues, no matter how small or large. We have built our successful practice on hard work and attention to detail. We recognize that your situation is unique, but our commitment to you is the same as it is to all our clients — we will use our skill, knowledge, experience and resources to help you pursue your goals as quickly as practicable and in a cost-effective manner.

Helping You Deal with an Underwater Mortgage
We handle all types of situations in which a home is subject to an underwater mortgage, whether your lender inflated the principal amount without need or justification to create a higher commission, or there were undisclosed problems with the home, requiring repairs that will put you underwater. We have considerable experience advocating for individuals whose mortgages are now underwater, and have successfully negotiated loan modifications, obtaining principal reductions that allowed our clients to establish equity in their homes.

When you hire us to help you address issues related to an underwater mortgage, we will start by carefully reviewing all documents involved in the original purchase and financing of your home. If your lender failed to make required disclosures, or used false or fraudulent information to support a higher principal balance, we will aggressively seek to have your loan restructured to reflect accurate information and to put your mortgage above water.

We are ready to help

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Philadelphia: 215-751-0100 | New Jersey: 856-429-0970