954-384-6114

Florida Foreclosure Prevention

Oppenheim Law has assisted countless individuals in avoiding the hardships involved in a drawn-out foreclosure action. We are completely aware of the burden of the dreaded foreclosure process, and can help you navigate through potential alternative routes. There are three main routes that our Firm can utilize to assist you in your attempts to prevent a foreclosure:

Short Sale

A short sale is a popular tactic used to prevent or conclude a foreclosure lawsuit. It is usually used by individuals that owe more for their home than what it is presently worth. Unfortunately, individuals short sell their homes without realizing that banks will go after them for the difference of the short sale price and the debt on the home. Very often this sum, known as a deficiency, is in the hundreds of thousands of dollars. If you are considering a short sale, please speak to an experienced real estate attorney that can guide you through the murky trenches of foreclosure prevention and help you avoid the pitfalls of an uneducated short sale. Having counsel by your side can mean the difference between getting out unscathed though a short sale or facing costly and stressful litigation over potentially hundreds of thousands of dollars after the short sale is completed.

Deed in Lieu of Foreclosure

Another alternative to foreclosure that our firm is experienced in facilitating is a deed in lieu of foreclosure (“deed in lieu”). This alternative to foreclosure allows a borrower to willingly transfer the ownership of the home to the lender. The lender accepts the home and. in return. will typically cancel all debts tied to the property and release you from all liability in connection with the defaulted mortgage. A deed in lieu can be a great option if you are seeking to keep a foreclosure off of your credit report.

Loan Modifications

Loan modifications are long-term solutions to foreclosure prevention. Loan modifications are recommended to homeowners who want to avoid foreclosure and stay in their homes and workout a mutually-acceptable deal with their current lender under an existing loan. If you decide to take this route, we will negotiate interest rates, principle balances and monthly payment requirements with the lender in order to strike an arrangement. Yes, it is true that you can discuss a loan modification with your lender without an attorney. It is also true that you can manage your own retirement account. Even though you can do both, neither option is recommended. The fact is, hiring an experienced attorney can substantially increase your chances of obtaining a loan modification. Our firm understands the characteristics lenders typically prefer before they grant a loan modification, and we have mastered effective methods to demonstrate to lenders that our clients indeed possess such characteristics.

If you are falling behind on your mortgage, it is in your best interest to plan a foreclosure defense strategy. Don’t ignore a notice from your bank and don’t wait until a sheriff’s deputy is knocking down your door. Contact us online or give us a call at 954-384-6114 today for a consultation to discuss your options.