Avoiding Foreclosure in Florida
Foreclosure attorneys in Miami Florida, such as Christian N. Folland, Esq. of Folland & Associates, LC, help clients plan and deal with the foreclosure trap caused by sinking real estate values and adjustable rate mortgage loans. Lenders faced with high numbers of borrowers defaulting on their mortgage loans are filing record numbers of foreclosures. Although many lenders are also accepting mortgage modification agreements to reduce loan payments and short sale payoffs, numerous over extended borrowers will have no option but foreclosure. Clients receiving a Notice of Foreclosure from their lender must act quickly and seek the help of a Foreclosure Attorney immediately to file an Answer, or risk being placed in default status. Filing an Answer will also often delay the foreclosure process by many months.
Some of the more common reasons contributing to the high number of foreclosures include the following:
- Lenders allowing borrowers to obtain 100% or greater financing;
- Lenders approving loans to borrowers with no income or asset verification;
- Borrowers accepting adjustable rate mortgage loans with teaser rates;
- Depressed property values making refinances difficult;
- Overextended borrowers with multiple investment mortgage loans.
Christian N. Folland, Esq., owner of Folland & Associates, LC and South Pointe Title Company in Miami Beach, Florida, is a Florida Bar Certified real estate attorney experienced in negotiating with lenders to help borrowers avoid foreclosure. Lenders prefer to avoid the foreclosure process because it is very time consuming, very expensive, and often results in the lender owner the property. Mr. Folland works with lenders and borrowers to obtain mortgage modification agreements or short sale approval. See our Florida Short Sale Closing information page for more details.
We know real estate. Our goal is to protect our local and out-of-state clients while guiding them through their real estate solutions. We offer affordable rates and a friendly atmosphere where clients are welcome to call or visit the office with questions.
Foreclosure or short sale question? Please call 786-276-9900 or visit our office today for a consultation.