How to Stop a Foreclosure in West Palm Beach, Florida
Today’s economic climate has made it very hard for some people to keep up with their mortgage payments, keeping foreclosures across the state on the rise. If you are at risk for foreclosure on your home, you need to contact an experienced West Palm Beach foreclosure defense attorney right away. At the Law Offices of Larry E. Bray, P.A., we can advise you of your legal options and help protect your home from foreclosure.
What are My Options for Mortgage Foreclosure Defense?
There are several different options that may be available depending on your particular situation. These include:
- Refinancing: This is when you can obtain another loan to pay off the original loan that is in default. It’s important that you don’t get yourself into another loan that you will default on either. Your attorney can help make sure you find the best refinancing option available to you.
- Home Loan Modification Agreement: This option involves a direct negotiation with your bank to find a way to make your payments more affordable. This may include lengthening the loan’s terms, altering the interest rate, or finding another way to renegotiate the loan’s terms.
- Short Sale: A short sale is when you hope to sell the property, but you owe more than it’s worth. The bank is not going to give a clear title until the loan is paid in full. A short sale is where we can help negotiate with the bank to take an offer that is less than full value by convincing them it’s better to accept something rather than having to take the property and foreclose on it.
- Deed in Lieu of Foreclosure: This is when a sale cannot be facilitated, your attorney may be able to negotiate a way to surrender your deed to the bank as full settlement of the outstanding balance, provided there is no other liens on the property.
- Outside Investors: This is where an outside investor comes in and buys up homes that in default and subject to foreclosure. Sometimes, this can be helpful as long as the terms are fair. You should not accept any offers without reviewing with a West Palm Beach foreclosure defense attorney first.
Beware of Foreclosure Scams
Sometimes, you may run into a scammer who claims to be trying to help you, but it’s all a ruse. They are criminals who promise to help keep your home or sell it without you going into foreclosure. Of course, there is a fee associated with this. And, they will just take your fee, not help you avoid foreclosure. These people find their potential victims by advertising, handing out flyers, or contacting you from a foreclosure notice in the paper. We can protect you from getting scammed by these criminals, which is why it’s important you contact a reputable attorney early on.
Contact a Florida Foreclosure Defense Attorney
If you need assistance stopping a foreclosure in West Palm Beach, contact the Law Offices of Larry E. Bray, P.A. today to schedule an initial consultation.