Get Competent Legal Advice About Foreclosures in Orlando
The latest trend in Florida and in other states is for homeowners to simply walk away from mortgages — and family homes — when their homes are in jeopardy of bank foreclosure. There are even companies popping up that claim they can show you how to do this effectively.
However, as an experienced Orlando real estate law firm, Pierce & Associates, P.L., is committed to protecting the rights of our clients — the homeowners — by attempting to negotiate a mortgage workout plan with the lender, defending against bank foreclosure proceedings, settling the bank foreclosure action in mortgage mediation sessions or negotiating a short sale in lieu of bank foreclosure.
A mortgage walkout is NOT the right option for you or your financial future. There are other options. Contact the Orlando law firm of Pierce & Associates to discuss your situation and learn how we can help.
Why Are Mortgage Walkouts or Walk-Always a Poor Option?
At Pierce & Associates, we refer to the walkout approach as the "worst approach" to housing or financial problems. While it may seem easy to simply walk away from your mortgage, it will have extremely damaging consequences for your financial future. These consequences are in addition to the major loss of your home.
What Other Options Are Available When Faced With Bank Foreclosure?
Most lenders will work with you, so there is usually no reason to take such a drastic move as a mortgage walkout, one that will injure your financial future.
We help clients evaluate options to avoid or minimize losses and mitigate foreclosure damage:
- Defenses to the Foreclosure Proceedings: For some people, there may be defenses to a foreclosure action. Were proper notification requirements met? Were there technical errors in the note, mortgage or the foreclosure complaint? Our foreclosure defense review will evaluate whether there are defenses to delay or stop the foreclosure.
- Mortgage Loan Workouts : In today's financial and real estate markets, lenders recognize that they face risks when a debtor falls into default. Most lenders will work with homeowners to negotiate a workable option that allows you to keep your home. We assist clients in negotiating workouts with lenders. These workouts frequently involve reductions in interest rates or other changes to the terms of the mortgage.
- Short Sales : There are times when both the lender and the buyer want out of the mortgage. In these instances, we work with your lender to establish a moratorium — a grace period — in which you can attempt to sell your home for less than you owe the lender. The lender accepts the home sale price as full repayment of the home loan.
Get Smart Advice to Make Smart Decisions About Home Foreclosure Options
If you have received a notice of foreclosure or feel it is looming in the future, make smart decisions. Speak with an experienced real estate and foreclosure lawyer to ensure that you make an informed choice and protect your interests. Our founding attorney, John G. Pierce, has decades of experience that enables us to provide skilled legal advice and offer effective representation in short sale negotiations, workout negotiations and foreclosure defense representation.
Contact Pierce & Associates today by calling us at 407-982-3869 or by filling out our intake form online.
