Foreclosure Lawyer Boca Raton
Florida has been hit by an unprecedented real estate collapse in recent years, leaving many homeowners underwater on one or more mortgages and facing financial catastrophe. If you are struggling to make your mortgage payments or your financial situation just isn’t working for you, you may have legal options for protecting your investment. An experienced lawyer at Debt Relief Law Florida can help you.
The path to debt relief can begin today. Call 561-826-8986 to schedule a free appointment with our Boca Raton foreclosure attorney.
These debts, such as mortgages and auto loans, are generally not dischargeable in a bankruptcy. However, bankruptcy can be used to strip liens and make these debts more manageable within a Chapter 13 payment plan.
Curing The Default
It is important to remember that most loans require the lender to give you a formal notice that you are in default. This provides you the opportunity to cure the default or otherwise resolve the problem.
Responding To The Foreclosure Lawsuit
Once you are served with a foreclosure lawsuit, you have 20 calendar days to file a response with the court. There are specific rules for how your response must be handled, and our firm can guide you through the process. If not handled properly, your response could preclude you from using certain defenses later on in the process.
Secured creditors such as mortgage holders are only secured to the value of the collateral. What does this mean for you? If you have a second mortgage for $100,000 but the market value of your home does not even equal the value of your first mortgage, we may be able to strip the lien and get rid of your second mortgage. The same can hold true for auto loans on vehicles that are not valued at the outstanding amount of the loan.
Modifying The Mortgage | Boca Raton Mortgage Modification Attorney
It may be possible to modify the terms of your mortgage so that you can repay your debts in a more manageable fashion. But this is not a do-it-yourself process. It is in your best interest to have our attorneys on your side as you approach your lender to renegotiate the terms of your loan.
To learn more, see our mortgage modification page.
Cramming An Investment Property
You can use a Chapter 13 bankruptcy to cram down the mortgage on your investment property. Essentially, this means you will be able to cram down the principle balance on your investment property’s mortgage to the value of your investment property. You may also be able to reduce your interest rate.
Contact us today for more information on how you can save your home, car or investment properties. We offer free appointments and provide our clients with personalized attention every step of the way.
In addition to our many services, we are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.