If you’re facing the possibility of foreclosure in Miami-Dade County, it’s essential to understand your options and rights. Our guide will help you navigate this challenging situation and make informed decisions.
Foreclosure Defense in Miami-Dade: Foreclosure defense is a critical step if you believe there’s an error in the foreclosure process. Our experienced lawyers can help protect your home. Please note that foreclosure defense is not a solution for those who have willingly stopped paying their mortgage.
Loan Modification in Miami-Dade: A loan modification may be an option for you. Through a lawyer, you can request a modification by providing necessary documentation. However, approval depends on your financial situation, and you must meet specific criteria. Failing to make the first three payments on time can result in the cancellation of the modification.
Maintaining Mortgage Payments: It’s crucial to continue making your mortgage payments during foreclosure defense or loan modification. Failure to do so can increase your debt, and you may be responsible for the difference when your home is sold at auction.
Foreclosure Sale Consequences: Reaching the point of foreclosure sale can have severe consequences, including a significant negative impact on your credit score that can last for ten years. This can make it challenging to secure housing or loans in the future.
The Short Sale Option: Consider a short sale when you’re ready to move on from your property and want to reduce stress and financial burdens. A short sale may allow you to negotiate a debt reduction with the bank, resulting in only two years of bad credit. We can help you negotiate the Short Sale directly through our Brokerage.
Pre-Foreclosure Sale Misconceptions: It’s essential to understand that selling your home through a realtor after receiving a Lis Pendens is not a viable option. Title companies and mortgage lenders will be aware of the pending foreclosure, making it difficult to complete the sale. To retain your equity, you must act before receiving a Lis Pendens, or it will be a challenging fight to regain that equity. The sooner you start the sooner this is over.
Contact us at 786-546-2778, or by filing in this confidential form
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