Foreclosure Defense Attorney - Assisting Homeowners|Households|Families Avoid Foreclosure
The last couple of years have been quite bad for the housing industry. Families are facing foreclosure and losing their dwellings. According to facts, in Dade 4% of all the mortgages are entering foreclosure proceedings. It is pretty clear that the situation is really pathetic; however, a homeowner can seek the aid of a foreclosure defense attorney to know the options.
The fact is that for a vast many of families foreclosures are stressful, confusing and overwhelming because they do not know much about the foreclosure system. They are not aware of the fact that there are options available to homeowners that can help them avoid foreclosure proceedings.
Loan Modification
A specialized foreclosure defense lawyer can lay out the options available to property owners who are dealing with foreclosure. Under the Housing Bill passed by President Obama, owners looking at foreclosure can go for foreclosure defense. Assistance of a foreclosure defense lawyer can help a property owners negotiate the mortgage modification with the lenders.
Short Sale
Still another option that homeowners have is that of short sale. Under this option the property owners will sell the mortgaged property for less than balance owed on the loan. The proceeds of the sale are given to the mortgage lender. Before the sale, the short sale attorney will work with the bank. The short sale lawyer will convince the bank that due to economic or financial hardship, the bank should agree to discount the loan balance. Therefore, after the house is sold the remaining balance is discounted.
Deed In Lieu
Another way that a property owner can avoid foreclosure is by opting for deed in lieu. The home-owner's property attorney will negotiate with the mortgage lender. The property owner will sign over the deed or title of the property to the bank and the bank in return will cancel the mortgage.
Bankruptcy
Another option that a council can suggest to a property owner is that of filing bankruptcy in the event they already have gotten a sheriff's sale date. This will not only stop all foreclosure proceedings but will also give a chance to the owner to repay some of the debt and retain the dwelling.
Refinancing
A Florida attorney can also suggest the option of refinancing to avoid foreclosure. Refinancing simply means that the owner replaces the existing mortgage with a new one. In most cases, the new mortgage comes with lower interest rates and better terms and conditions.
Reverse Mortgage
A very good option that a foreclosure defense attorney might suggest is that of reverse mortgage. This is simply a loan against the property. A homeowner does not need to repay the loan as long as they live there. However, this option is mostly available to those who own the property and are over 62 years of age.
Contesting Foreclosure
In many cases it has been seen that property owners can successfully contest foreclosure proceeding. A foreclosure defense fort Lauderdale attorney can help land owners find the legal grounds on which the proceedings can be challenged. It might be possible that the mortgage company has filed the foreclosure proceedings illegally. A cautious attentive homeowners with the help of a foreclosure defense Broward attorney will be able to figure out what is illegal about the proceedings.
The bottom line is that there are several options available to homeowners to help them avoid foreclosure. It is up to the owners to seek these options. A foreclosure defense attorney will act as a specialist guide in their efforts to end foreclosure.
The last couple of years have been quite bad for the housing industry. Families are facing foreclosure and losing their dwellings. According to facts, in Dade 4% of all the mortgages are entering foreclosure proceedings. It is pretty clear that the situation is really pathetic; however, a homeowner can seek the aid of a foreclosure defense attorney to know the options.
The fact is that for a vast many of families foreclosures are stressful, confusing and overwhelming because they do not know much about the foreclosure system. They are not aware of the fact that there are options available to homeowners that can help them avoid foreclosure proceedings.
Loan Modification
A specialized foreclosure defense lawyer can lay out the options available to property owners who are dealing with foreclosure. Under the Housing Bill passed by President Obama, owners looking at foreclosure can go for foreclosure defense. Assistance of a foreclosure defense lawyer can help a property owners negotiate the mortgage modification with the lenders.
Short Sale
Still another option that homeowners have is that of short sale. Under this option the property owners will sell the mortgaged property for less than balance owed on the loan. The proceeds of the sale are given to the mortgage lender. Before the sale, the short sale attorney will work with the bank. The short sale lawyer will convince the bank that due to economic or financial hardship, the bank should agree to discount the loan balance. Therefore, after the house is sold the remaining balance is discounted.
Deed In Lieu
Another way that a property owner can avoid foreclosure is by opting for deed in lieu. The home-owner's property attorney will negotiate with the mortgage lender. The property owner will sign over the deed or title of the property to the bank and the bank in return will cancel the mortgage.
Bankruptcy
Another option that a council can suggest to a property owner is that of filing bankruptcy in the event they already have gotten a sheriff's sale date. This will not only stop all foreclosure proceedings but will also give a chance to the owner to repay some of the debt and retain the dwelling.
Refinancing
A Florida attorney can also suggest the option of refinancing to avoid foreclosure. Refinancing simply means that the owner replaces the existing mortgage with a new one. In most cases, the new mortgage comes with lower interest rates and better terms and conditions.
Reverse Mortgage
A very good option that a foreclosure defense attorney might suggest is that of reverse mortgage. This is simply a loan against the property. A homeowner does not need to repay the loan as long as they live there. However, this option is mostly available to those who own the property and are over 62 years of age.
Contesting Foreclosure
In many cases it has been seen that property owners can successfully contest foreclosure proceeding. A foreclosure defense fort Lauderdale attorney can help land owners find the legal grounds on which the proceedings can be challenged. It might be possible that the mortgage company has filed the foreclosure proceedings illegally. A cautious attentive homeowners with the help of a foreclosure defense Broward attorney will be able to figure out what is illegal about the proceedings.
The bottom line is that there are several options available to homeowners to help them avoid foreclosure. It is up to the owners to seek these options. A foreclosure defense attorney will act as a specialist guide in their efforts to end foreclosure.
About the Author:
Adam Whazzer has been a mortgage mitigation expert for 20 years" he has offered fort lauderdale mortgage help and Fort Lauderdale mortgage modification to foreclosure victims for nearly 18 years. If you are facing foreclosure, visit DvorakPa.com More Info On this Subject
