Do You Qualify for Loss Mitigation?

Behind on your mortgage and considering declaring bankruptcy? Read this first

Many people in danger of losing their homes to foreclosure think that their only option is bankruptcy. They're scared, they don't want to lose their family home, and they don't know what to do about it.

The experienced debt relief attorneys at Harold Shepley & Associates do, however.

Many people aren't aware that there are alternative methods to handle the situation. One such alternative is a mortgage foreclosure defense.

Call Harold Shepley & Associates at 877-827-9006 or contact us online any time for more information on foreclosure defense. We've been there, we know how you feel, and we're here to help.

Qualifying for loss mitigation

There are certain criteria you must meet to qualify for a loss mitigation. Largely, these criteria are based on income and necessity.

If you earn too much, the bank will not consider a loss mitigation. If you don't earn enough to make even a workout payment, then you're doing yourself a disservice because your home can still be foreclosed upon after a loss mitigation.

Some examples of the qualifiers for loss mitigation include:

  • The home is your primary residence - If you're about to lose your only family home, your creditors are much more likely to listen to your case than if you are worried about losing your summer vacation home.
  • Mortgage exceeds 31% of your total income - As stated before - regardless of your circumstances, if your income is too high, your creditors aren't going to understand why you can't pay back the original principle at the original rate.
  • Unpaid loan doesn't exceed the limit - If the unpaid principle on your mortgage is more than $730,000, you most likely will not qualify for loss mitigation.

We help show your bank that your actual income level is neither too low to achieve a loss mitigation payment nor too high for you to deserve consideration. If your lender demands evidence of your financial hardship, we build a compelling case for your genuine need.

Call a PA foreclosure professional today

Our experienced attorneys have dealt with foreclosure defense, loss mitigation, debt negotiation, and much more. Don't let creditors intimidate you - there is hope to save your home.

Call Harold Shepley & Associates today for a free consultation, or contact us online any time.

Our phone number is 877-827-9006; our debt relief attorneys are waiting to listen to your concerns, help you figure out the plan that is right for you, and get you on the path to living debt free.

Contact Us

Relief is closer than you think!

For more information on debt relief, the other services we offer, or on what sets us apart from your average firm, please - call us today!

Somerset, PA


209 West Patriot Street
Somerset, PA 15501

Harrisburg, PA


3115 N. Front Street
Harrisburg, PA 17110

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Altoona, PA


201 Cayuga Ave, Suite 11
Altoona, PA 16602

Debt Relief from Pennsylvania Bankruptcy Attorneys

We serve clients throughout all of Pennsylvania with Bankruptcy, Debt Negotiation, Mortgage Foreclosure Defense, Divorce, and Estate Planning. Though we have two offices, no travel is necessary.

We service Pennsylvania clients from Pittsburgh, Harrisburg, Philadelphia, Altoona, Bedford, Blairsville, Connellsville, Cranberry, Ebensburg, Greensburg, Huntingdon, Johnstown, Indiana, Lancaster, Monroeville, New Kensington, State College, Somerset, Uniontown, Washington, Wexford and throughout the state.

This website is intended to provide general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.