Foreclosure Attorney in West Palm Beach, FL
When a borrower and a lender enter into a contract that enables the borrower to obtain money for financing an asset such as a house, the lender is protected by the terms of the loan if the borrower defaults on payments or misses scheduled payments. Foreclosure is the court action mortgage holders use to recover the title to the property when the borrower defaults on payments. Our foreclosure attorney in West Palm Beach, FL can help you understand foreclosure laws and protection in Florida.
Avoid Foreclosure in West Palm Beach
In many instances, as the homeowner, you can seek protection against foreclosure proceedings by employing a defense in which you make the bank prove that it is the legal owner of the mortgage. Also, an attorney can help you identify various federal statutes that may enable you to countersue the bank in appropriate circumstances as a defense against foreclosure. Other alternatives that can help you avoid foreclosure include loan modification.
Seeking a loan modification on your mortgage is a viable option for preventing foreclosure. Ultimately, with a loan modification, your monthly mortgage payment is lowered to something more manageable. If you can prove with the help of a qualified foreclosure attorney that you can catch up on your payments with an altered repayment plan as well as pay your creditors, your loan modifications may result in the following:
- Lowered Interest Rate
- Switching from Adjustable to Fixed Rates
- Reduction of the Principal Balance
Your loan modification plan must include a hardship letter explaining your financial circumstances, an itemized list of expenses, bank statements, and tax returns. If you are behind on your mortgage, your bank may be willing to offer a repayment plan that allows you to pay a little extra each month until your past-due mortgage is paid in full.
West Palm Beach Foreclosure Help
Facing foreclosure is a daunting position to be in, and the legalities involved are often complex and confusing. To best handle foreclosure litigation, it is imperative that you speak with a qualified and experienced attorney. A lawyer can help you deal with a foreclosure notice or threats of foreclosure. An attorney familiar with Florida’s foreclosure laws will evaluate your financial situation and offer you advice on the best legal course of action to take to avoid losing your home.
In addition to helping you to understand the legal issues of foreclosure, bank foreclosure law, and your options to stop it, a skilled foreclosure attorney can offer foreclosure assistance by representing you in any ensuing lawsuit.