Miami Foreclosure Defense Attorney

The Law Office of Garcia Hernandez, P.A. has been representing foreclosure and bankruptcy clients for over 18 years. Our experience in foreclosure matters and has given us perspective that every case is different and should be treated as such.

Foreclosure is a grim matter that can potentially leave you on the street. It can progress fast, especially if you do not fight back. We recommend dealing with foreclosure by hiring an experienced foreclosure law firm to fight for you and help you resolve it in the best possible way.

Legality of the Foreclosure

The first thing that we always analyze is whether the foreclosure is legally valid. There are many specific requirements that limit who can foreclose and specifies how lenders may proceed. Does the lender have the right to foreclose? Was the foreclosure served properly? Was the debt appropriately accelerated by the bank? These are some of questions that are best answered by experienced foreclosure attorneys. If the foreclosure is legal, then we need to look into how to best resolve it.

Mortgage Modification

A potential solution to foreclosure action is via Mortgage Modification. Mortgage modification is a process in which most clients get to keep their home by changing (“modifying”) the terms of their mortgage. By modifying the terms of the mortgage a client may be able to lower the interest rate, extend the number of months of the loan, and in some cases lowering the total amount of the debt. Lenders may also allow clients not to make payments for a certain amount of time and roll over the payments not made to the end of the loan.

If a foreclosure is too far advanced and/or there is a foreclosure sale scheduled, clients may need to file for bankruptcy to save their home. Clients can apply for a loan modification in bankruptcy through Mortgage Modification Mediation. This is an option that was created by the Bankruptcy Court in  Florida and is formally titled Mortgage Modification Mediation, or MMM for short. Individuals who opt for this option normally declare bankruptcy and negotiate with their lender (usually a bank) terms becoming current on their mortgage. Many clients have successfully saved their homes from being foreclosed by declaring a Chapter 13 Bankruptcy and modifying  their mortgage. Many have clients have lower their interest and payments through a mortgage modification.

Even if the bank does not agree to loan modification, a client can stop a foreclosure and bring their mortgage current in a Chapter 13 bankruptcy by paying the arrearage in a payment plan of three (3) to five (5) years. After the payment plan the client can continue by making their regular payments directly to the lender or bank.

Clients should also be aware the condominium or homeowner’s associations can also file a foreclosure lawsuit. Even if you owe money to a bank, an association can foreclose against you and take your home if you don’t defend the association foreclosure.

Declaring Bankruptcy is never an easy choice; however, many clients choose to do this in order to save their home.

Loan Negotiation

Another option that oftentimes yields satisfactory results is negotiating with the bank via an experienced foreclosure attorney. Banks are inclined to negotiate because it is better to have the same client paying off the loan than to have to go through the process of reselling the home. Loan modifications or refinancing are often agreed to and allow the homeowner to stay in their home while they pay off their home with new terms, delaying or cancelling the foreclosure proceedings altogether.

Conclusion

Aside from the most common strategies described above, there are dozens of legal avenues available to clients depending on their situation. If you are facing foreclosure you should contact the Law Office of Garcia Hernandez, P.A. where you can receive a free consultation from our experienced foreclosure Miami attorney. Call us today or fill out the contact form and we will reach out to you!