What are the current alternatives to Foreclosure in Florida?
Finding alternatives to foreclosure with a Florida foreclosure lawyer
The situation of today’s real estate market is essentially the result of massive greed and an overload of misinformation. Florida homeowners who are currently underwater and trying to decide their best options need the help of experienced Florida foreclosure attorneys.
Let us repeat: You cannot and should not try finding an alternative to foreclosure without a Florida foreclosure lawyer.
Much of the information out there about foreclosure alternatives is just hype, and you and your family could pay the long-term financial consequences. An experienced Florida foreclosure lawyer understands current bankruptcy law and can help struggling homeowners identify their best alternatives to foreclosure.
The #1 Reason to Avoid Foreclosure (With Help from a Florida Foreclosure Defense Attorney)
There are a number of important reasons that homeowners should try to avoid foreclosure. Having a Florida foreclosure defense attorney on your side is your best option for getting out of a bad mortgage with your financial credit rating – and your dignity – intact.
The foreclosure process is unpredictable and it gives a homeowner little control over the timeline or the outcome. In a foreclosure, the banks are in control and they may move fast or slow, but they will certainly leave the homeowner out of the communication process.
Getting in touch with a Florida foreclosure defense attorney experienced in bankruptcy law gives you the best chance at controlling the timeline for getting out of your home. It also allows you to recover more quickly than a foreclosure will.
Current Alternatives to Foreclosure Require Knowledge in Bankruptcy Law
- Loan Modification – an option that involves changing the original mortgage terms – a process that’s preferred by many. The process is complicated and without the help of a foreclosure defense attorney, the homeowner could face potential financial harm.
It’s important to realize that even though some homeowners received loan modifications – many of them are still so far underwater on their home that the temporary payment reductions do little for their ability to stay in their home. If you are one of the vast majority of homeowners who did not qualify for a loan modification – or if you had a modification and still see no way to continue making your payments – know that there are a few other alternatives to foreclosure too.
- Deed in Lieu of Foreclosure – an option that is sometimes called ‘cash for keys’. Many lenders are encouraged to pay a homeowner some amount of money to cooperate in the process. This option helps avoid foreclosure and allows the homeowner to walk without damaging their credit.
- Short-sale – is another option that allows the homeowner to work with their lender to sell the home for less than what is owed on the mortgage. It gives the homeowner more time than the deed in lieu process does. Plus, it gives the homeowner much more control over the process than a foreclosure will. Know how a short sale can backfire on you.
Whatever your situation may be, getting the right advice and legal counsel from Florida foreclosure attorneys is essential to your future. For a no cost, no obligation consultation and review of your case call a Legal Help Group professional right now at (877) 304-9404, or fill out the “contact me” form to connect with a Florida foreclosure defense lawyer.