West Palm Beach Foreclosure Defense Attorney
Exploring Foreclosure Options to Save Your Home
The economic climate today has made things very difficult for many people. Foreclosures are rampant and the opportunity to purchase property at low prices is unprecedented. If you are in danger from foreclosure, the West Palm Beach Law Offices of Larry E. Bray, P.A., we can defend you, advise you of your options, take appropriate actions and protect you.
Contact our West Palm Beach foreclosure defense attorney to learn about your specific options, or read the information below.
Mortgage Foreclosure Defense Options
- Home loan modification agreement: This involves negotiating directly with the bank to make payments more affordable, fix the interest rate, lengthen the term of the loan, or otherwise renegotiate the terms of the defaulted loan.
- Refinance: This is when the conditions allow for another loan which pays off the defaulted loan. But this time we are here to help, to be certain that you don’t just get into another commitment that you can’t make good on.
- Short sale: This is when you want to, or have to, sell the property but it is “upside down” (this means that the debt is higher than what you can get for the property and the bank won’t clear the title until it is paid in full). At the Law Offices of Larry E. Bray, P.A., we can defend the foreclosure, arrange to have the property listed and once an offer is made, we submit that offer to the bank and convince them that accepting the net proceeds of that deal is still better for the bank than taking the property to foreclosure.
- Deed in lieu of foreclosure: When a sale cannot be consummated and there are no other liens on the property, we may be able to negotiate the surrender of your deed to the bank in full settlement of the outstanding balance.
- Access to investors: There is a new breed of investor out there. They buy homes that are in default and subject to foreclosure. Occasionally, this process can be of assistance provided that the terms of the deal are fair to you. We review and advise on those offers.
If we are able to utilize any of the devices available to you when you face foreclosure, including deed in lieu of foreclosure, our team can handle everything. In addition to pure legal representation we also offer access to reputable real estate brokers, title insurance (through the Attorneys Title Insurance Fund), access to mortgage products and counsel through the entire process.
Foreclosure Defense FAQs
The Law Offices of Larry E. Bray, P.A., provides comprehensive foreclosure defense services to Florida homeowners. We understand that if you are facing foreclosure, or if you are at all worried about foreclosure, you have many questions. The following questions and answers simply begin the conversation. To learn more and to schedule your consultation with attorney Larry Bray, please contact us.
What is an “upside down” mortgage? If your mortgage is “upside down,” it means that what you owe on your home is more than what your home is worth. If you are unable to pay your mortgage and you need to or want to sell your home, the bank will not clear the title until the mortgage is paid in full. Most people who face foreclosure have an “upside down” mortgage.
What is foreclosure defense? In foreclosure defense, the homeowner, with help from an attorney, essentially fights back against a lender that is trying to foreclose.
What are my options? There are several types of foreclosure defense options, including asserting affirmative defenses based upon various theories including predatory lending, estoppel, no standing, failing to attach documents which are consistent with the pleadings, no assignment, no note, no endorsement, loan modification, short sale, deed in lieu of foreclosure and bankruptcy. A loan modification involves negotiating with the bank to lower your interest rate or extend the term of your mortgage. A short sale involves an “upside down” mortgage — the home is sold for less than the amount of the mortgage, and the bank accepts the net proceeds of the sale. A deed in lieu of foreclosure involves the lender accepting a deed to the property and stopping the foreclosure process. Bankruptcy involves restructuring the debt and obtaining a payment plan allowing the homeowner to pay the mortgage arrears and get caught up on payments.
What makes your law firm different from other firms that also provide foreclosure defense services? The Law Offices of Larry E. Bray, P.A., uses a two-track approach. We do not merely delay inevitable foreclosure and litigate. We delay the foreclosure process and find a resolution to your problem. Other law firms provide quick-fix solutions that let you remain in your house temporarily. We find solutions to our clients’ underlying problems, allowing our clients to stop foreclosure, and if they desire, to stay in their homes permanently.
What is the best option for me? The answer to this question is as unique as you are. Our lawyer will take ample time to look at your specific situation and identify exactly how this problem came to be. Are you a victim of predatory lending? Did you reach out to your bank numerous times for help, only to be turned away? Were you forced into default by outrageous fees and insurance premiums? Has the foreclosure process already started?
If you are ready to start talking about stopping foreclosure and finding solutions to your problem rather than just a quick and temporary fix, contact the Law Offices of Larry E. Bray, P.A., to schedule a consultation.
Contact a West Palm Beach Foreclosure Defense Attorney
To speak to an experienced West Palm Beach foreclosure defense attorney, contact us for an initial consultation. Our office handles mortgage foreclosure matters and short sales for clients located throughout the state of Florida.