Foreclosure/Foreclosure Defense
Deeds in Lieu
Short Sales
Loan Modifications
Forensic Loan Audits
Our firm offers consultation and negotiations for deeds in lieu of foreclosure short sale closings, loan modifications. We also offer forensic loan audits in order to determine the validity of the terms of the loans entered into by our clients and whether or not their lenders complied with all applicable Federal and State laws and guidelines. We will work with all lenders currently holding our clients' loans in order to facilitate timely resolutions to their respective matters in as prompt manner as possible.
Foreclosures are a common type of lawsuit in Florida and have become even more prevalent with the changes in the real estate market. Foreclosures arise based on a lender’s security interest in a property. This interest is called a mortgage and is recorded in the public records of the county in which the property located. When a property owner fails to make payments on the home loan, the lender institutes a FORECLOSURE action to re-take possession of the property and can involve auctioning off the property and using the proceeds to recover their investment. If your property is not sold or the purchase is not enough to cover the lender’s loan, a deficiency judgment could be pursued against a property owner. This can seriously impact a person’s credit and impair their ability to purchase another home.
A Short Sale or "negotiated settlement" or short pay occurs when a Lender agrees to accept less than the amount owed to payoff a loan as an alternative to foreclosure. If the property is worth less than the amount owed on the loan, then even if the Lender forecloses and takes back the property, they know they are going to take a loss. We can often convince a Lender that they will do better if they take less than what is owed now rather than taking the property back by foreclosure and trying to sell it later. The Short Sale negotiation process is a lengthy one. It may take several weeks or more likely several months to get an approval. Many Lenders have several layers of bureaucracy, insures, and investors that we will have to maneuver through in order to get a Short Sale approved. So it is important to be patient during this long process.
