Deerfield Beach Foreclosure Defense Attorney
At the Law Office of Adam I. Skolnik, P.A., we understand how important your home is to you. Whether through bankruptcy, loan modification, asset protection or other means, we strive to help you keep your home for as long as you can afford to and for as long as it makes sense to hold on to that mortgage. If you wind up in default and facing foreclosure, we’ll help you understand your best options for moving forward. Our experienced Deerfield Beach foreclosure defense attorney will defend you against a wrongful foreclosure or explore alternative strategies to avoid foreclosure and liability for a deficiency judgment. Learn more about the firm’s foreclosure defense practice below, and call the Law Office of Adam I. Skolnik, P.A., for help with foreclosure defense and avoidance in Palm Beach and Broward counties.
How Do You Defend Against Foreclosure?
Foreclosures in Florida require a judicial process. Even if you are late on payments, a lender can’t foreclose on your mortgage without first going to court and following strict procedures. You have a right to attend a court hearing and present any defenses you have. Homeowners may have one or more defenses to assert that the foreclosure is wrongful and should not proceed. Some of these defenses to wrongful foreclosure include:
Procedural errors – The bank did not follow the proper court procedures for foreclosure, such as notice and timeline requirements.
Predatory lending – The lender put you into a mortgage that you were not qualified to get based on your income, or the loan contained variable interest rates or hidden balloon payments that were not explained to you as required by law.
Errors in loan processing – The bank issued the mortgage without making financial disclosures about the terms of the loan required under the Truth in Lending Act, Regulation Z, RESPA and other applicable Florida or federal laws.
Mortgage servicing violations – The mortgage servicer misapplied payments you made and mistakenly placed you in default.
Show the note – The lender cannot actually produce the note proving it has a right to foreclose on the property. Documents were “robo-signed” and never reviewed by the lender.
How Can I Avoid Foreclosure?
If you don’t have any viable defenses against foreclosure and can’t really afford to keep the house, it might be in your best interest to let it go. Simply letting the bank take it from you is not ideal, however. They could sell the home for less than what you owe, leaving you stuck with the balance, owing payments on a mortgage for a home you’ve already been kicked out of. Instead, talk to foreclosure defense attorney Adam Skolnik about some better options, including:
Short payoff – The lender agrees to accept less than the remaining balance to satisfy the debt.
Short sale – The bank agrees to accept the proceeds from your sale of the home to satisfy the mortgage, even if the amount of the sale is less than the outstanding balance on the loan.
Deed in lieu of foreclosure – You voluntarily give up the deed to the lender, and in exchange, the lender cancels the loan.
Cash for keys – Depending on your bargaining position, you might be able to hand over the deed in lieu of foreclosure and also receive some money from the bank to help with moving costs.
Loan modification – A loan modification can help you stay in the home while reducing the monthly mortgage payment to something you can afford.
Bankruptcy – The automatic stay in bankruptcy puts an immediate stop to foreclosure while you work out a plan for dealing with debt, including eliminating unsecured debt through Chapter 7 or lowering your mortgage and curing a loan default under Chapter 13.
Whether you stay in the home or give it up, avoiding foreclosure keeps foreclosure off of your credit report. No matter which avenue you pursue, making sure the lender cancels any liability for a deficiency is essential to making the most of your decision. An experienced foreclosure avoidance won’t neglect this crucial step in the process.
Foreclosure Defense & Foreclosure Avoidance in Deerfield Beach, Boca Raton and Fort Lauderdale
For help with foreclosure defense or foreclosure avoidance in Palm Beach and Broward counties, call a Deerfield Beach foreclosure defense lawyer at the Law Office of Adam I. Skolnik, P.A., for a free consultation. We’ll take the time to understand your needs and situations and recommend the best course of action for a positive result.
