Foreclosure Defense

It is not your fault

The financial pressure felt by millions of Americans has a strong pulse in Florida. At the center of Florida’s struggles is the Subprime Mortgage Crisis of 2007. The number of subprime mortgages and subsequent delinquencies on those mortgages resulted in a lot of hard working Floridians facing foreclosure lawsuits. We at Brown Law Firm, PL understand that each case is different and aim to provide an acceptable outcome in your foreclosure case. We are not afraid to take your case to trial but we also understand that you may not wish to go that route. We can help you prepare for any loss mitigation option including short sale, deed-in-lieu, HAMP loan modification, or a bank structured modification.

What happens when I’m sued for foreclosure?

After missing one to three mortgage payments you will receive a notice of intent to foreclose on your property. From that point you have thirty days to make payment or negotiate with your lender to avoid foreclosure. Once the Complaint is filed, you will be 137827526served with summons and a foreclosure Complaint. You then have twenty days to file a response or else you may waive all defenses. As your attorneys, we will make the Bank prove their case in a cost-efficient manner; or, we will seek any alternative resolution in our clients’ best interest. Please call to arrange your initial consultation and secure the representation you need to achieve the outcome you desire.

Act now before you lose your home

Educating yourself about the foreclosure process will help you understand your options. You have 20 days to respond to the Complaint once you’re served. Your next decision may determine if you continue to live in your home or whether the bank may seek a deficiency against you. Our attorneys will educate you on the process and vigorously defend your lawsuit in order to reach your goals. Call us now for a free consultation – 407-347-4908.

What options are available?

Short sale – A short sale occurs when, after applying, the bank allows the homeowner to sell the property at a price lower than that owed to the lender. Because it’s less than what is owed, it is called a “short sale”. The lender will typically have an appraisal of the property done and allow the property to sell at the price it’s appraised at if the lender finds it to be a cheaper route than foreclosure. If you successfully short sale your property, you may still be responsible for the difference between the sale price and that which you owe the lender. Our attorneys may be able to negotiate a waiver of that deficiency so that you are no longer liable for it. Our attorneys will also help you understand the tax implications of a short sale so that you can plan for your future.

Deed-in-Lieu – A Deed-in-Lieu, or Deed-in-Lieu of foreclosure, is a mechanism that entitles the homeowner, upon application and acceptance by the lender, to give the property back to the lender. This is only accepted in a limited set of circumstances after all other options have been exhausted to sell the property. Moreover, a Deed-in-Lieu will not be accepted if there’s a second mortgage on the property that is in default. Our attorneys will help you understand the application process to ensure all documents are submitted correctly. A waiver of deficiency is also a possibility when deeding the property back to the lender.

Modification – a loan modification occurs when the current payment plan on a loan is altered. In some instances this may include lower interest rates, extending payment term length, or some principal forgiveness. The homeowner retains the home when a modification is accepted and successfully paid. Please contact our office if you desire to retain your home through modification or foreclosure defense. Our experience may make the difference between losing your home and keeping it with lower monthly payments.