Thomas F. Cox Urges Underwater Homeowners to Use the REST Report to Determine Federal Loan Modification Eligibility

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Completing a REST Report helps homeowners pre-qualify for mortgage loan modification from their lenders, saving time and legal fees, says St Petersburg, Florida bankruptcy attorney Thomas F. Cox of Cox & Sanchez

If you believe a mortgage modification is in your best interests, my unequivocal advice is to obtain a REST Report.

Managing partner Thomas F. Cox of the St. Petersburg bankruptcy law firm of Cox & Sanchez urges underwater homeowners in Florida to use the Real Estate Service and Technology (REST) Report to pre-qualify for loan modification from the federal Home Affordable Modification Program (HAMP) before they are foreclosed.

“You could spend thousands of dollars in legal fees and many hours compiling and organizing documents that may not even be required trying to conform to HAMP guidelines,” said Cox. “Even then, you can run into brick walls dealing with ill-trained mortgage servicers who will still not modify your mortgage.”

Cox says the HAMP guidelines include 170 pages of technicalities requiring applicants to meet income, hardship and numerous other tests, and to provide financial information such as proof of income and bank statements. There are so many requirements that 95 percent of the 13 million homeowners who have applied for a loan modification under HAMP have been denied, he says.

The REST Report changes all that, noted Cox, a respected St. Petersburg bankruptcy and foreclosure attorney. REST mathematical computative analysis tells homeowners if they are qualified for modification. Completing a REST Report allows homeowners to pre-qualify for loan modification if they receive a positive report and possess the documentation they used to support their input, according to a HAMP directive. The directive says that lenders are required to modify the mortgages of homeowners who have pre-qualified. Cox says that REST also analyzes other options such as a short sale, deed in lieu of foreclosure, and various foreclosure defenses or bankruptcy.

REST reports are available to homeowners and attorneys alike and cost about $1,250. Investors Financial Funding, Inc. administers the program in Florida with the exclusive right to prepare the comprehensive analysis evaluations required under the REST Report in the state.

“If you believe a mortgage modification is in your best interests, my unequivocal advice is to obtain a REST Report,” Cox recommends. “It may just be the ticket that allows the club doorman to lower the ropes, show you inside, and give you the VIP treatment.”

About the Law Office of Cox & Sanchez
The bankruptcy lawyers in St. Petersburg at Cox & Sanchez, Thomas F. Cox and Stephany P. Sanchez, have over 30 years of combined experience providing bankruptcy and civil legal assistance to residents in the Tampa and St. Petersburg region. Their areas of practice include Chapters 7, 11, and 13 bankruptcy, foreclosure, real estate, personal injury, and wills and estates.
For more information, visit the firm’s website at


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