Protecting Your Home From Foreclosure
In the current economy, many people are having problems with their mortgage. An unexpected change in income, medical problems or divorce can all disrupt a family's finances. Whether you have already been contacted by the bank, or if you are anticipating a call from the bank, it is important to work with an attorney who can protect your rights.
At the law office of Zaeri & Associates, P.A., we offer clients throughout Orlando and Central Florida home foreclosure defense options. Contact our firm online or call 407-792-3246 to schedule your free initial consultation.
Foreclosure Defense Options
If you have already been sued by the bank, it is important to understand the options that are available to prevent foreclosure. When you contact our lawyers, we will work with the bank to try to find a way for you to make lower payments and stay in your home. Some options we often explore include:
- Loan modification: We work with clients and their lenders to negotiate a lower interest or a longer payment plan.
- Payment plan for a lesser amount: If your loan is more than two months past due, our attorneys may be able to submit a plan to your lender requesting a lower payment amount with the same interest.
- Reinstatement of the mortgage: For clients who can afford a lump sum payment, our attorneys negotiate with lenders to obtain a reinstatement of the mortgage. This form of foreclosure defense must be considered carefully to see if it will actually resolve the long-term situation.
- Deed in lieu of foreclosure: If your house has been on the market for at least 90 days, you can give your lender the deed to your house and walk away without going through foreclosure.
- Cash for keys: We negotiate with banks that may offer our clients the option to vacate their home and surrender their keys. In exchange, the bank may offer a cash payment and forgive the remaining mortgage debt.
- Short pay: The bank keep the mortgage on their books, but they refinance the loan at a lower principal amount.
Contact our firm online or call 407-792-3246. During our free initial consultation, we can discuss your home foreclosure defense options.