Foreclosure and Real Estate Lawyer in Jacksonville, FL

Need a Foreclosure and Real Estate Lawyer in Jacksonville, FL?

If you are struggling to make payments, or behind on your mortgage and worried about losing your home or investment, the Florida foreclosure attorneys at Fenderson Law Firm can help.  We can help you no matter where you are in your foreclosure process, just make sure to contact a foreclosure attorney as soon as possible.

Our foreclosure and real estate lawyers in Jacksonville, FL have an extensive background in financial services law and foreclosure defense, which means that we are able to thoroughly analyze your loan and your situation to plan a customized defense strategy that fits your goals. We can discuss your potential alternatives to foreclosure, can help if you have been the victim of predatory lending and can assist you in reaching the best possible resolution to save your home/investment and credit.

Time is not on your side.

  • If you’ve already been served with a foreclosure notice, you only have twenty (20) days to file a response, or a default judgment can be entered against you. Once a default is in place against you, you will be prevented from defending yourself at a later date, even if you have excellent defenses.
  • Your lender can begin the foreclosure process (and does not have to suspend foreclosure proceedings that have already begun) while you are trying to modify your loan. You do not have to miss a payment in order to qualify for a loan modification.
  • Even if foreclosure proceedings have started, an experienced Florida foreclosure attorney may be able to assert substantive defenses on your behalf, or negotiate with your lender for a modification, refinance, short sale, or deed in lieu of foreclosure.

How Foreclosure Defense Can Help You and Your Family:

  • For many homeowners and investors, Florida foreclosure defense is an opportunity to buy time. Time affords you the opportunity to remain in your home while you get back on your feet, to execute a short sale, refinance, pursue a deed-in-lieu foreclosure, or obtain a mortgage modification.
  • Florida foreclosure defense is an opportunity to fight.   In the current foreclosure crisis, bank mistakes are not uncommon – notes are often lost, improperly transferred, or never even recorded.  We examine each case thoroughly, looking for any viable defenses to foreclosure.

 

Alternatives to Foreclosure:

Florida Loan Modification: If you owe more on your mortgage than the current value of your property, a Florida Loan Modification may be the solution for you.  More and more often, banks are agreeing to a Florida Loan Modification in order to keep “bad assets” off their books.  Why?  Because banks do not want to be in the business of property ownership and management and often are willing to take a reduced cash income stream instead.

To Qualify For a Loan Modification:

  1. Hardship (proven by a carefully drafted hardship letter and financial statement);
  2. Continued income (showing that you can afford the proposed new payments on the loan);
  3. A significant decline in the value of your home or investment;
  4. A lack of equity in the property; and
  5. A history of late payments on mortgage.

Florida Short Sales: Simply put, a short sale is a way for you to negotiate with your lender(s) to avoid foreclosure and still be able to pay off your loan by settling with the lender(s).  Florida short sales are complex, extremely time consuming and typically require the assistance of experienced real estate and legal professionals.

You should be familiar with your particular lender’s short sale procedure.  You will likely also need to provide documentation including: a Hardship Letter, last couple of months of income & expenses, a listing agreement (along with listing price and history), realtor contact information, an offer once received and proposed HUD-1 statements.

Beware of potential deficiency judgments.  Settling your mortgage by short sale does not necessarily mean the bank won’t come after you for the deficiency!

Deed in Lieu of Foreclosure: You are signing over the deed or “title” to your property and the lender agrees to cancel the mortgage. The process, however, isn’t as always as clean-cut as it may appear. For instance, the lender typically reserves the right to seek a deficiency judgment against you. Once the lender takes possession, the property will be put up for sale. Unless otherwise stipulated in the Deed in Lieu of Foreclosure agreement, the lender may come after you for the unpaid debt.

It should be noted prior to engaging in a consensual deed in lieu that they are not easy to have approved:

  • The borrower must have suffered a hardship such as loss of job, sickness, dissolution of marriage, etc;
  • The property is generally an individual!s former homestead; the Deed in Lieu of Foreclosure is generally not for abandoned properties or investment properties;
  • The borrower must have exhausted other options / financial resources;
  • The property must have been on the market between 90 and 180 days;
  • There cannot be any other liens on the property; and
  • The property must be left in clean condition and sometimes the lender requires an inventory & a statement of condition

Contact our Florida Foreclosure Defense Attorneys today at 786-752-7427
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