Mr. Schwartz Successfully Eliminates $282,761 of Mortgage Debt, Reduces Interest Rate, and Eliminates Second Mortgage Entirely

by Michael H. Schwartz

In the latest of a long line of successful mortgage modifications, Michael H. Schwartz has been awarded the highest hourly rate ever in a mortgage modification by Chief Judge Cecilia G. Morris, United States Bankruptcy Court.

The fees will be paid by the lender and other creditors at no cost to the borrower.

In awarding the fee, Chief Judge Cecelia G. Morris Judge took into account that Mr. Schwartz had successfully eliminated $282,761.33 of mortgage debt.

The grateful borrowers, who had been $211,396.17 in arrears on their mortgage with Wells Fargo Bank, before hiring Mr. Schwartz, not only eliminated $282,761.33 of mortgage debt but got to keep their house and had their interest rate reduced by 1.25%.

Even more amazing, the borrower’s’ second mortgage of $91,205.49 was eliminated entirely.