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Foreclosure defense in Miami? Get the facts straight and get help in time It’s important for homeowners facing foreclosure to understand one critical fact: the banks are losing money with every foreclosure they process. It’s true – according to the Federal Deposit Insurance Corporation (FDIC)*, the lender typically loses $50,000 or more on a single foreclosure proceeding. And this fact is one that your foreclosure defense attorney can use to your advantage – after all, if the lender can keep you in your Miami home, it’s a win-win for everyone, including your community. A single foreclosure can result in additional losses to the surrounding property values for nearby homes. If the bank who forecloses can’t sell your home quickly, that home is left vacant and provides a site where crime, vandalism, and other problems occur. A foreclosure defense attorney can help your lender see the value in refinancing your home or applying one of the government programs to your mortgage. The attorney can also work to protect you if a foreclosure is impossible to avoid and you want to be released from your mortgage without later backlash or deficiency judgments. *Source: http://www.fdic.gov/about/comein/files/foreclosure_statistics.pdf Facts Regarding Foreclosure Defense in Miami The following are important foreclosure defense facts for homeowners in Miami, Florida: - Florida foreclosures don’t begin until the lender files a lawsuit against the homeowner.
- Homeowners facing foreclosure must be notified of legal action pending and must file a response.
- The notice of sale must include accurate information about the property, improvements, and case information – this is where foreclosure defense attorneys can stall a foreclosure.
- A foreclosure defense in Miami has only 30 days before the judgment is filed.
- The foreclosure defense law states that a homeowner has the right to redeem the property until the day of the sale.
Florida is a state where mortgage foreclosures have to be handled through the court system – it’s called a ‘judicial’ state. Foreclosure defense in Miami will go to court when the mortgage goes into default. There is no transaction without some inherent risk and it’s important for homeowners in Florida to protect themselves by having adequate foreclosure defense representation through a qualified foreclosure defense attorney. Important Reminder: Lenders do not make money on foreclosures It’s an important reminder from the foreclosure defense attorneys: lenders and investors do not make money on foreclosures. In fact, their losses can range from 20 to 60 cents on the dollar. Because foreclosures are a money-losing situation, the banks are willing – now more than ever – to negotiate, but to be sure that you get a solution that is safe for you, you’ll need a foreclosure defense expert. A foreclosure defense attorney can help you stop foreclosure through one of the government programs or a foreclosure alternative that will have less damaging effects on your long-term credit rating. No matter what your personal mortgage situation is, it’s important to get the right legal advice when you’re trying to stop foreclosure. With a proper foreclosure defense in Miami, you can save your home – and your sanity! For a no cost, no obligation consultation and review of your case you can call Litvin, Torrens & Associates. They are a law firm that is focused on foreclosure defense in Miami and you can reach them at 877-619-9303.
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