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.

Short Sales
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.

Strategic Default
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 situation.

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.