Understanding Your Options
The foreclosure defense attorneys at the Law Offices of Evan M. Rosen are dedicated to treating our clients like we would want to be treated and to treating our clients cases as if they were our own.
The very first step in putting this philosophy into action is to listen. The first question you will typically hear from one of our foreclosure defense lawyers or team members is, “how can I help you?” That will eventually be followed up with, “as it pertains to this situation, what are your goals?”
Once we have a firm grasp on this information, we will begin to list options and review the pros and cons of each. Any lawyer can list off reasons why your cases or situation may be hard but the best lawyers find legal and ethical ways to help serve their clients. For us, once we know about your legal problem and what you'd like the result to be, we next want to be reasonably sure we can help. We will only represent clients and take on cases if we think we can provide more in benefit to our client than they are paying us in fees. It's not just enough that we help. Our help must bring about a benefit that exceeds the amount of fees a client pays us.
Once on board, we go over potential options with our client and thoroughly address the pros and cons of each. The goal is to counsel you. To give you information to help you make an informed decision. Unless a client is insisting on doing something illegal or unethical, we never tell our clients what to do. Instead, we give the best possible legal counsel we can provide so our clients can make the best possible decisions as to what is best for them. We do not presume to know what is best for others.
If you or someone you know is facing foreclosure, the Florida foreclosure defense attorneys at the Law Offices of Evan M. Rosen, can help. You are welcome to read more about your options below or you can contact us now for a consultation by calling 855-55-ROSEN or by filling out our online form.
This page contains an outline of some of the most common options for property owners who are behind on their payments or facing foreclosure. Whichever path or paths you choose to follow, the Florida foreclosure defense attorneys at the Law Offices of Evan M. Rosen will be there, by your side, at every step of the way to be a strong advocate for you and give you the guidance you need.
- Defend: For a number of reasons, you may have no choice but to fight back and defend against foreclosure. Our team of lawyers and support staff have an ever-changing arsenal of defenses we use to help our clients. If you don't mount a defense, a sheriff's deputy could show up at your door in a matter of weeks. They will post a notice giving you 24 hours to vacate. If you don't, the sheriff will return to forcibly remove you and your personal property from the house. If a lawsuit has been filed, having competent, dedicated and zealous advocates fighting for you should most likely be part of any strategy.
- Reinstate/Loan Modification: If you have adequate funds to get current (reinstate) or work out a loan modification – and you want to keep your home – this is an option that should be explored. This can be pursued immediately or you can wait. It certainly does not need to be explored as soon as suit as filed. There can be a number of good reasons to not rush into a modification. You may nave a new job on the horizon or maybe you anticipate changes in your financial situation. Perhaps you want to see if our team can create some good leverage in the litigation to try to increase the odds of striking a better deal. On the other hand, there may be reasons to reinstate or try for a modification as quickly as possible. Either way, if suit is filed and you do not hire competent counsel to defend, you will likely lose the case quickly. So again, if you want to redeem or do a loan modification, defending against the suit should be part of the approach. The lawyers and staff at the Law Offices of Evan M. Rosen can help you with all of this.
- Redeem: If you can afford it, one option is to pay off the balance of the loan. As part of this, we could help you negotiate better terms, including a reduced payoff amount.
- Strategic default: Borrowers who have not fallen behind on their payments and are able to continue paying on their debt might make the decision to walk away from their property for a variety of reasons. They usually make this choice because they owe much more than the property is worth. So, they view it as a business decision to simply stop making payments and let the lender foreclose on the property. The foreclosure defense lawyers at the Law Offices of Evan M. Rosen can explain all of the legal consequences of a strategic default. We can also help litigate and defend the case from foreclosure. Strategic default is not something that should be taken lightly. Please see more about this here: Strategic Default.
- Short sale: Under certain circumstances, a lender will allow a property to be sold for less than what is owed on the loan. A knowledgeable lawyer and negotiator, like those of us at the Law Offices of Evan M. Rosen, can help you in this process. Some of things we have helped clients obtain in short sales include: 1) obtaining a deficiency waiver, 2) making sure you do not have to come out of pocket with any cash, 3) asking for positive credit reporting information, and 4) getting the lender to execute a full satisfaction and release of the mortgage. We can also recommend a number of qualified real estate brokers and title agents to help you list, market and find a suitable buyer. Through these relationships, we can also help you find a new home to rent or buy. Evan M. Rosen is also a fully licensed real estate broker and has been involved in numerous transactions as an attorney or real estate broker.
- Deed-in-lieu, "Cash for Keys," or Consent Judgment: In a deed-in-lieu, a property owner signs over the deed to a property in exchange for the lender executing a satisfaction and release of the mortgage. Part of this transaction should also include a release from any debt. This can be a great option as it avoids the costs, aggravation, time and uncertainty that go with a foreclosure action. But, a deed-in-lieu is rare. There can be title priority issues, tax complications and even bankruptcy concerns that prevent most lenders from doing these. In a "cash for keys" deal, a property owner agrees to consent to judgment, in exchange for a cash incentive to walk away from the property. We have a list of numerous issues we cover when negotiation these types of arrangements. There can also be tax consequences which must be explored. But, if you want ot put the case behind you and walk away from the property, this can be an excellent choice and one we can help you with.
- Bankruptcy: Bankruptcy is considered the most powerful consumer protection statute available. If you qualify, you can have your debts forever discharged. At one point, we helped clients in bankruptcy matters but had to stopped handling those cases for a number of reasons. But if bankruptcy is something you want to explore, we can recommend some excellent attorneys.
- Combination of options: It is very common for people to call us just before or after suit has been filed. So, staring out with foreclosure defense is almost always required. From there, we can explore options depending on your goals and situation.
The information provided on this page is an overview of the most common options for property owners facing foreclosure. To find out more about what options you may have and how our Florida foreclosure defense attorneys can help, contact us today for a consultation at 855-55-ROSEN or through our online form.
Let the lawyers and staff of the Law Offices of Evan M. Rosen serve you!