PORT ST. JOHN — After 20-plus years in the construction business, Mark Weeks earned more than $90,000 a year, had paid off his cars and credit cards and owned a comfortable house with an above-ground pool in Port St. John.
But two years ago, construction all but stopped, and Weeks lost his job. Today, he earns $27,000 driving a truck and can’t afford the $1,400 monthly mortgage payment on his family home of six years.
Weeks typifies the homeowner whom politicians and industry leaders vowed to help through programs to rewrite loans and with billions of dollars in federal incentives. But after failing for months to persuade Wells Fargo to work with him, the bank started foreclosure proceedings in December, and Weeks hired a lawyer to fight it.
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Mortgage modifications are in increasing demand due to the rise of foreclosed properties all over the U.S.A. It is advised to receive help from a qualified attorney who has great experience at dealing with a variety of issues during the modification process. They certainly have a higher success rate than individual applicants.