Florida Foreclosure AttorneysYou are a Florida homeowner facing foreclosure. You may feel helpless and frightened, uncertain about what your financial future holds. This is a situation that more and more Florida residents are finding themselves in, with the situation of the economy at this time. Fortunately, you can find relief in the form of a foreclosure defense lawyer. At Amerihope Alliance Legal Services, LLC we understand how to help homeowners who are facing foreclosure. It is our goal to provide you with the legal counsel that will help you avoid foreclosure or that will offer you the best chance at a brighter financial future. When you work with an attorney at our firm, you have the backing of our years of experience and knowledge regarding Florida mortgage law and foreclosures. The Foreclosure Process & LawsClick here to view the foreclosure process Click here to view the foreclosure laws by state Customized Foreclosure Defense in FloridaAs a Florida attorney, Gregory M. Nordt, Esq. relies upon a combination of legal tools, tactics and transactions to help resolve your financial crisis. Foreclosure defense may include asserting your rights under state law, federal law, the bankruptcy code, or even the tax code. Foreclosure defense may include direct negotiations with your lender seeking a voluntary loan modification. “Short sales” or a deed-in-lieu of foreclosure may be utilized as an alternative to foreclosure and to protect your credit rating. Each situation is unique and deserves individual consideration. The first step of our Foreclosure Intervention Program is to provide you with a FREE CONSULTATION by telephone. During this consultation, our staff will gather important information regarding the current status of your existing mortgage and/or foreclosure proceedings. The purpose of this FREE CONSULTATION is for our professionals to gain an understanding of your individual situation in order to determine if we can help you. We will not waste your time or give you false hope. Our experienced professionals will give you honest answers. Complete Evaluation of Your SituationA complete evaluation of your individual situation will be conducted including an analysis of the following information: Upon completion of this comprehensive evaluation, our staff of professionals will consult with you regarding the best Foreclosure Workout Alternatives to pursue on your behalf, which are described below. Foreclosure Workout AlternativesThe following is a summary of Foreclosure Workout Alternatives employed by Amerihope Alliance Legal Services, LLC. Loan Modification A LOAN MODIFICATION is a workout alternative whereby our professional staff would negotiate with your mortgage lender/servicer to establish a permanent change to your existing mortgage terms to reduce your monthly payments to an amount that you can afford. This would also return your mortgage to good standing. For example, the negotiation may result in a change in your monthly payment due to a change in your interest rate, a change in the amortization period, a change in the total principal balance of your mortgage, etc. Again, borrowers must QUALIFY for a LOAN MODIFICATION and negotiation of the terms with the mortgage lender/servicer are the key to success. Amerihope Alliance Legal Services, LLC credentials and experience facilitate our staff's ability to perform effective LOAN MODIFICATION negotiations on your behalf. Reinstatement Our professionals may be able to negotiate a REINSTATEMENT of your mortgage to good standing. This would involve payment to the mortgage servicer/lender of the total amounts that are currently due. The amount necessary for a REINSTATEMENT may be substantial, as it will include the total amount of all past due mortgage payments, late fees and legal fees that the mortgage servicer/lender has incurred in connection with the foreclosure of your home. Upon the REINSTATEMENT, your mortgage would continue in force based upon its existing terms. A REINSTATEMENT does not change your existing mortgage terms. This alternative would require you to have the financial resources to make this payment which would bring the loan to current status. There is no restriction on the source of funds to make this payment. You can borrow the money, sell assets, etc. Unfortunately while this is generally a fast and effective method to stop a foreclosure, most borrowers in foreclosure do not have the financial resources available to employ this workout alternative. Repayment Plan Our professionals may be able to negotiate a REPAYMENT PLAN to resolve your foreclosure. This foreclosure workout alternative enables the borrower to repay the past due amounts over a period of time (generally up to 2 years). The total amount past due would be structured into equal monthly installments and this extra amount would be added to the existing normal monthly mortgage payment until the past due amount is fully paid. This foreclosure solution often works well for borrowers that have experienced a temporary financial setback, (such as a loss of employment or a short-term medical disability), but whose financial situation has returned to normal. Like most foreclosure workout alternatives, borrowers must QUALIFY for a REPAYMENT PLAN. Amerihope Alliance Legal Services, LLC has extensive experience with the Qualification Process. Click here to view short sale and deed in lieu of foreclosure FHA Partial Claim If you have an FHA-insured mortgage, our professional staff may be able to negotiate with your mortgage lender/servicer for an FHA PARTIAL CLAIM. This workout alternative is only available to borrowers that have FHA loans. Under the FHA PARTIAL CLAIM option, the mortgage lender/servicer will advance funds on behalf of you in an amount necessary to reinstate your delinquent loan (up to an amount not to exceed the equivalent of 12 months of mortgage payments, including principal, interest, taxes and insurance). In connection with this process, you would execute a non-interest bearing promissory note and an additional mortgage that will be subordinate to the existing mortgages; however, you will not be required to make any payments until such time as you either pay off the existing mortgage or you no longer own the property (whichever comes first). Similar to all other workout alternatives, there are specific criteria that must be met and you must QUALIFY for an FHA PARTIAL CLAIM. The staff of Amerihope Alliance Legal Services, LLC will discuss the details of this option with you if you have an FHA-insured mortgage. Loan Refinance A LOAN REFINANCE is another option that our professional staff may explore for you. The fact that you have been delinquent on your current mortgage may not necessarily prevent you from being able to REFINANCE the loan. Available loan programs may include FHA, non-prime, and hard equity mortgages. You would need to QUALIFY for a REFINANCE, which would involve an analysis of the value of your home, a review of your personal finances, a review of your consumer credit report, and an evaluation of the circumstances that lead to your mortgage delinquency. Amerihope Alliance Legal Services, LLC’s staff of professionals can determine if a REFINANCE is a feasible solution for your specific situation. Pre-Foreclosure Sale A PRE-FORECLOSURE SALE involves the sale of your home prior to the mortgage lender/servicer foreclosing on your home. This workout alternative may be an appropriate solution for you in the event that your home is worth more than the amount that you owe the mortgage lender/servicer and if none of the above workout alternatives are feasible options for you. It may also be an option that you may desire to CHOOSE simply because you do not want to keep your home. This alternative would allow you to pay off your mortgage and receive the net proceeds from a sale, as well as potentially limiting the damage to your credit history. Amerihope Alliance Legal Service, LLC may negotiate with your lender to obtain a sufficient amount of time to enable you to sell your home. This process would involve an analysis of the net realizable value of your home, an estimated marketing time based upon the absorption rate of homes available for sale in your market area, an analysis of the payoff of your existing mortgages, and negotiation with your mortgage lender/servicer. The presentation to your mortgage lender/servicer will encompass: Amerihope Alliance Legal Services, LLC will keep you informed every step of the way throughout the entire pre-foreclosure sale process. Forbearance Our staff of professionals may be able to negotiate a FORBEARANCE of your foreclosure proceedings or mortgage payments. This foreclosure workout alternative will permit you to stop making mortgage payments or reduce your mortgage payments for a specified period of time that would be negotiated with your mortgage lender/servicer. During this negotiated period of time, your mortgage lender/servicer will agree to suspend collection and/or legal action against you. The purpose of a FORBEARANCE is to provide you with sufficient time to employ one of the above workout alternative solutions to resolve your mortgage foreclosure. A FORBEARANCE may be also be utilized to grant you sufficient time to close on a pending sale of your home that will enable you to pay-off the existing mortgage. |
