West Palm Beach Foreclosure Defense Lawyer
Foreclosure Defense in West Palm Beach, Boca Raton, Palm Beach, Jupiter, Delray Beach, and Boynton Beach
If you are having financial difficulties and a foreclosure is looming, you should certainly discuss the matter with a licensed real estate attorney. We focus on this area of the law, and we frequently assist clients who are facing foreclosures. A foreclosure defense can be mounted in a number of different ways, and each case is different, so the ideal course of action will depend upon the circumstances.
For many people, the best way to proceed will be to ask the mortgage lender to modify the loan. A loan modification can include a reduction in the interest rate, the conversion of an adjustable-rate mortgage to a fixed-rate mortgage, and/or an extension of the loan duration.
A foreclosure defense could alternately be centered on a proposed short sale. To go this route, you submit an application to the loss mitigation department of your mortgage lender. The idea is to sell the home at a price that is less than the amount that you owe the bank. Generally speaking, most lenders will not entertain the idea unless you have a solid offer on the table from a willing buyer.
The difference between what you owed and the short sale selling price is called a deficiency. In Florida, the lender could sue you personally to obtain a deficiency judgment unless verbiage in the contract prevents them from doing so. If you engage us to provide a foreclosure defense, we will certainly protect your interests with regard to deficiencies.
Another possibility would be a Deed in Lieu of Foreclosure. Once again, you would contact the loss mitigation department of the financial institution that holds the mortgage. If they agree to the proposal, they would allow you to transfer the deed back to them, and you would no longer be responsible for the mortgage.
Formulate a Foreclosure Defense Strategy!
In addition to the possibilities that we have touched upon above, there are other steps that can sometimes be taken to prevent a foreclosure. If you would like to discuss all of your options with a West Palm Beach foreclosure defense attorney, we would be glad to assist you. Our firm offers free case evaluations, and you can schedule an appointment right now if you give us a call at 561-275-1500.
Foreclosure Attorney – Foreclosure Lawyer Serving Boca Raton, Boynton Beach, Delray Beach, Jupiter, and West Palm Beach FL
The thought of losing your Florida home to foreclosure is a stressful and frightening thought and one more individuals and families are facing every day. The severe recession brought on in part by mortgage industry fraud, Wall Street greed, and plummeting home values has made it difficult for many Florida homeowners to stay current with their mortgage payments. If you are reading this, chances are you or someone you care about are already, or soon will be, facing a foreclosure problem. Florida laws provide for several defenses to protect the homeowner from unscrupulous lenders, banks, and other creditors. Don’t give up! Take advantage of this and the often “weak” position the mortgage companies are in!
The Eannarino Law, P.A. Law Foreclosure Defense Lawyer’s practice aggressively defends Florida home owners against foreclosure. Contact our office to discuss your foreclosure defense with an experienced real estate attorney. Complete the Free Case Evaluation now or contact a Florida Foreclosure Attorney immediately by calling 561-275-1500. It is of UTMOST IMPORTANCE that you involve an attorney early in the process to maximize your defense positions. Learn more about the Florida Foreclosure Process now.