Foreclosure Defense Lawyer in Fort Lauderdale

There are many potential solutions to your current difficult financial position. With the national average being 1 out of 200 homes foreclosed on, at Charles Legal, PLLC, we understand that it is not your aim to slip behind on your mortgage payments. We recognize that meeting your monthly mortgage payments is one of your highest priorities. Whether it may be illness, insurance increases, unemployment, or salary cuts, we realize that everyday people, just like you, can quickly become overwhelmed by mortgage payments. 

Based in Fort Lauderdale and serving the South Florida region, including Miami-Dade, Broward, and Palm Beach Counties, we at Charles Legal, PLLC have helped countless homeowners prevent mortgage foreclosures from becoming a reality. With consultations available 24/7, we will work day and night to develop long-term remedies for you and your home. 

Continue reading through to learn more about foreclosures, your options as a homeowner to avoid foreclosure, and what steps you should take next. Reach out to us as soon as possible with any of your foreclosure questions and concerns. During your initial consultation, we will discern your needs, wants, and goals, discuss your current situation as a homeowner, and find possible resolutions. Do not fall any further behind on your mortgage. The sooner you seek assistance, the more likely you are able to utilize the best foreclosure defenses available. Contact Charles Legal, PLLC for your consultation today!

What Is Foreclosure?

Foreclosure is the legal means that a lender utilizes in an attempt to collect the amount owed on a defaulted loan by claiming ownership of the home before selling the property. A default takes place when a borrower fails to repay a debt. The default may include principal and/or interest on a loan. A default can be caused when the borrower is unable to make timely payments, stops making payments altogether, or misses payments. In addition to these reasons, a defaulted loan can also occur during a foreclosure when the homeowner fails to meet other terms on the mortgage document. Generally, the national average number of days for the foreclosure process is 673. In the state of Florida, the typical foreclosure process lasts for 1,022 days. The sooner a homeowner facing foreclosure reaches out for assistance from a foreclosure attorney, the more likely they are to receive the best foreclosure defenses available. 

Foreclosure Defense

What Are Options For Homeowners To Avoid Foreclosure?

There is more than one option open to homeowners that will help them avoid foreclosure. Learning a brief overview of these defenses and identifying what they entail can aid homeowners who are seeking choices during this difficult time. These potential remedies include: 

Refinancing

A Florida foreclosure defense attorney may suggest refinancing as a viable option to avoid foreclosure. Refinancing takes place when a homeowner replaces the existing mortgage with a new one. Generally, the new mortgage agreement is accompanied by a lower interest rate and more advantageous terms and conditions. 

Loan Modification

Loan modification is an option that a specialized foreclosure defense attorney can present to a homeowner. Under the Housing Bill that was passed by President Obama, homeowners who were facing foreclosure were able to go for loan modification. Essentially, the homeowner’s foreclosure defense attorney would negotiate with the lenders to modify the current mortgage. Unlike refinancing, an entirely new mortgage agreement is not created; instead, the existing mortgage is renegotiated. 

Reverse Mortgage

A reverse mortgage is an excellent option that a defense attorney may suggest if applicable for the homeowner’s current situation. Through a reverse mortgage, a homeowner will not need to repay the loan at all, so long as the homeowner continues to live on that property. Although, the biggest drawback to this remedy is that it is usually only open to those who own the property and are over 62 years of age.

Short Sale

Under a short sale, the homeowner will sell their mortgaged property for less than the balance owed on the loan. From there, the lender will be given the proceeds of the sale. However, before the sale of the property, the homeowner’s lawyer will negotiate with the lending agency. The lawyer’s goal is to convince the lending agency that this financial institution should agree to discount the loan balance due to economic or financial hardship. Effectively, following the sale of the house, the remaining balance is discounted. 

Contesting Foreclosure

Homeowners can successfully contest the foreclosure proceeding altogether in many foreclosure cases. An experienced Fort Lauderdale foreclosure defense attorney can aid homeowners in finding the necessary legal grounds that are required to challenge the foreclosure proceedings. In some scenarios, the mortgage company might have filed the foreclosure proceedings improperly, and potentially illegally. Additionally, mortgages are oftentimes serviced by a different entity than the one that actually owns the mortgage. Naturally, there may be miscommunication or inadequately recorded property records. A homeowner might be paying their mortgage to the incorrect lending entity and face foreclosure as a result of the lending agencies’ errors. There are also scenarios where payments have been incorrectly credited, or the amount due is miscalculated. In these events, a cautious and attentive homeowner, with the help of a well-versed foreclosure defense attorney, can contest these proceedings. 

Deed In Lieu

A deed in lieu takes place when the homeowner’s lawyer negotiates with the lending agency. Afterward, the homeowner will sign over the title or deed of their property to the lending agency. In return, the bank will cancel the mortgage. 

Bankruptcy

While bankruptcy may seem daunting, filing for bankruptcy may be the most beneficial solution for the homeowner. By filing for bankruptcy, all foreclosure proceedings will be halted. Not only that, the homeowner is given the opportunity to repay some of the debt and retain their home. 

Contact Us Today

At Charles Legal, PLLC, we are devoted to providing top of the line representation to our clients in the South Florida region. Having served Miami-Dade, Broward, and Palm Beach Counties for years and expertise in a variety of legal practice areas, you can rely on our team to represent you to the fullest. Charles Legal, PLLC has the confidence and experience that you require and deserve to get the best potential outcome for you and your home. Contact us for your consultation today!

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