HARP Refinance:  For those homeowners having Freddie Mac or Fannie Mae as their investor and are otherwise prohibited from qualifying for a traditional refinance (due to income issues or too high of LTV), Michael Gaddis will attempt to determine if you might be eligible for a HARP Refinance.  If Michael Gaddis believes that you might be able to qualify he will refer you to an experienced lender capabable of handling HARP refinances.

Repayment Plans:  Michael Gaddis helps homeowners seeking repayment plans with their lender only as a last resort.  Michael Gaddis prefers to have homeowners attempt to work out a repayment plan directly with their lender prior to retaining his services.  Most of the time lenders will accommodate homeowners’ request for a repayment plan without much trouble.  However, there are instances when, despite a homeowner’s diligent effort to obtain a repayment plan they are unsuccessful.  In those instances Michael Gaddis is available to assist the homeowner’s effort to procure a repayment plan.

Loan Modifications:  If a refinance is not a realistic option for a homeowner, Michael Gaddis will then review the homeowner’s financial situation to estimate the probability of success of obtaining a loan modification.  In order to properly review the homeowner’s probability of success Michael Gaddis attempts to scrutinize each file as would their lender’s underwriter.  By looking at a homeowner’s situation through the eyes of an underwriter Michael Gaddis is able to find potential issues and problems that might prevent the homeowner from being able to successfully modify. A large portion of Michael Gaddis’ clients have attempted a loan modification prior to meeting with him.  These clients have either tried to modify on their own, through the assistance of a loan modification company, through the assistance of another attorney, through a non-profit company or through NACA.  Some clients have failed numerous times and after using numerous resources and after exhausting lots of money.  Read through the experiences of other homeowners by clicking on the “Testimonial” tab on this website.   With that being said, it is important to note the following:

It is not necessary to pay a third party to arrange for a loan modification or other form of forbearance from your mortgage lender or servicer. You may call your lender directly to ask for a change in your loan terms. Nonprofit housing counseling agencies also offer these and other forms of borrower assistance free of charge. A list of nonprofit housing counseling agencies approved by the United States Department of Housing and Urban Development (HUD) is available from your local HUD office or by visiting

Short Sale:  If a refinance is not possible and the outlook for a successful loan modification is not realistic and the homeowner does not have the ability and/or desire to reinstate their loan by bringing their loan current, a short sale is the next viable option.  The Law Offices of Michael Gaddis is not a real estate company so Michael Gaddis will refer interested homeowners desiring a short sale to, a real estate company specializing in assisting distressed homeowners.

 Deed in Lieu of Foreclosure:  If all other options have been exhausted a homeowner might desire to obtain a deed in lieu of foreclosure. Typically, a deed in lieu of foreclosure is a homeowner’s last option and is only available after a homeowner has unsuccessfully attempted to short sell their home.  Many times a homeowner is able to obtain a deed in lieu of foreclosure on their own.  However, Michael Gaddis provides deed in lieu of foreclosure assistance in those instances where the homeowner is unsuccessful on their own.