Why Fight Foreclosure?
Sarasota Foreclosure Lawyer
Many homeowners choose to not fight their
foreclosure because they feel defeated and believe the battle is already lost. This
could not be farther from the truth. There are many options available
to homeowners if their property is being threatened with foreclosure.
It is important to stay positive and seek knowledgeable legal counsel.
At The Edwards Law Firm, PL, a Sarasota foreclosure lawyer from our firm
can review your personal financial situation and help you determine the
best strategy to resolve the issue of an underwater mortgage. The lead
attorney at The Edwards Law Firm, PL, Sheryl A. Edwards, is a
Board Certified Real Estate Specialist and can walk you through the options you could have to pursue a result
that protects your interests and future.
There are many ways to deal with your real estate problems and our legal
team can help identify them for you. Your solution may include a combination
of strategies including, but not limited to:
Fighting Your Foreclosure in Florida
When you choose to fight foreclosure, you choose to defend your property
and your interests, which includes protecting your credit score from the
ramifications of foreclosure. Should your lender successfully foreclose
on your home, your credit will be seriously and negatively affected. Seeking
an alternative to foreclosure can protect your financial situation and
ensure that you still have options in the future.
One way to fight foreclosure is by going through with a short sale. In
this case, your lawyer would negotiate with your lender so that you can
sell your home to a third party for less than what you owe on the mortgage,
but your lender will forgive the outstanding debt and remove the lien.
You will not be able to keep your home, but you will be free from the
burden of an upside-down mortgage.
Deeds in Lieu
Another option that may be available to you is a deed in lieu of foreclosure.
This is similar to a short sale, but instead of selling your home, you
surrender the deed to your property back to your lender instead of having
to suffer foreclosure. Your property then belongs to your lender again
and you no longer have an underwater mortgage to pay.
In some cases, homeowners who find themselves owing more on their property
than it is worth decide to "walk away" from their mortgage.
They strategically stop making payments on their mortgage so that their
property returns to the lender and they are free to walk away from their
underwater mortgage. This is a delicate process and should only be attempted
with the counsel and guidance of a knowledgeable legal professional.
Steps in the Foreclosure Defense Process
Successful foreclosure defenses can expose violations of the Truth in Lending
Act to the court. Our law firm can examine every possibility, including
cases of predatory lending. With our help, you can find freedom from the
stress and burden of an upside-down mortgage that is chipping away at
your financial stability.
In order to create a successful foreclosure defense, you must first and
foremost have your loan documents carefully evaluated. Taking a closer
look at these documents will often reveal that your lender had failed
to produce all the necessary documentation or that fraudulent documents
are being used in the foreclosure action. We are well-versed in foreclosure
disputes and understand your options, benefits, and risks. We work hard
to carefully advise you of the legal strategies that best fit you individual
Why are there so many foreclosures in Florida?
Foreclosures in the Sarasota area are at an all-time high, brought about
by situations beyond your control. The subprime mortgage boom and packaging
of mortgages to investment companies led to inflating real estate prices,
and now many individuals have homes that are mortgaged far beyond their
current market value. It can appear to be almost impossible to refinance,
as the lender is hesitant to do so, even with government plans available.
You have the choice and the ability to no longer continue paying a high
price for an investment that no longer makes sense.
We understand that your situation may be causing you anxiety and stress.
Fighting foreclosure can be greatly assisted by professional legal representation,
and our firm can provide this to you. We have been helping clients for
over 16 years and are highly qualified to defend against foreclosure.
Our knowledge and understanding, combined with years of experience in
foreclosure defense, can be extremely beneficial to you and your financial
future. The Edwards Law Firm, PL will work tirelessly to find the best
solution for your foreclosure problem.
Contact a Sarasota foreclosure lawyer
if you require dedicated legal representation to address the issue of foreclosure
or an underwater mortgage.