Frequently Asked Questions About Foreclosure
South Florida is one of the areas across the nation that has been hit the hardest with foreclosure claims. Our team, at Graham Legal, has been defending homeowners in Miami-Dade, Broward and Palm Beach since the collapse of the real estate market. We do it because we care about the hardworking homeowners who haven’t been given a choice. We represent homeowners on foreclosure cases because we are experts in this field, and we know that, with our help, the homeowner can overcome a foreclosure lawsuit. Furthermore, they can keep their home.
If you have questions about your case, we would love to meet for a complimentary consultation.
To get you started with some information, below are some of the most frequently asked questions.
I’ve already missed some mortgage payments. Do I really stand a chance of avoiding foreclosure?
Yes. Even if you’re behind on payments there are still viable options available to you to fight for your home, including defending the foreclosure based on possible violations in the original mortgage paperwork, renegotiating loan terms or selling your home. There are also defenses and counterclaims that can be raised that may stop foreclosure.
I’m upside down on the mortgage. Will you still take on my case?
Yes. Whether there is a lot of equity, none at all, or if you’re upside down, we will still represent your case. Our goal is to have your foreclosure dismissed and the foreclosure suit in your past. We will assist you with single-family home foreclosure, condominium litigation, HUD foreclosure, and any other form of home foreclosure.
If I am willing to part ways with my home, what are my options for avoiding foreclosure?
There are many alternatives to foreclosure to choose from. We can get the bank to agree to a short sale (or a sale of the home at a value that is lower than the amount owed on the mortgage), or even conducting a regular home sale. You can sometimes get the bank to forgive your debt through the “deed in lieu of foreclosure” option, which requires signing the property over to the lender. There is a “forced” option for this method. It is important to note that a deed in lieu of foreclosure can result in various negative consequences, such as tax liability and damage to your credit score.
What are my alternatives if I want to keep my home?
After the foreclosure action is started, we have various litigation tactics that we can use to stall a final judgment. We will use the extra time to make negotiations with the bank on your behalf or to process a loan modification. These methods have allowed many of our clients to keep their home.
So what’s the difference between your attorneys and other foreclosure defense attorneys in Miami?
Our approach to foreclosure defense involves investigating every possibility. Our expertise is foreclosure defense for homeowners in Miami and South Florida, meaning that we are always studying and keeping up to date with all new case law and available defenses in foreclosure law. We’re not distracted with other areas of law, such as bankruptcy, because we believe in fighting for your home first, before bankruptcy which can further ruin your credit. Additionally, we explain everything in detail, provide you with updates, and communicate frequently. We are a law firm that cares, every member of our team is compassionate, most importantly Graham Legal is built on the foundation of defending hardworking people.
I don’t have much available income; how will I afford a foreclosure defense attorney?
In the long run, hiring our firm is more affordable than not hiring an attorney. When decided that our law firm was to benefit hardworking people who need our help, we made sure to put a fee structure in place that is easy for our clients to work with. Also, with our attorneys defending your case, the foreclosure will naturally take longer and you will be able to live on the property throughout the duration of the case without making mortgage payments, sometimes it can last for years allowing the family plenty of time to save money.
What if my lender took advantage of me? Can I do anything about it?
There are certain federal laws that require lenders to be honest and upfront with borrowers and to treat them fairly. For example, the Truth in Lending Act requires lenders to disclose certain information about loan terms and costs. When lenders violate these laws and engage in other “predatory lending” practices, this could be grounds to stop foreclosure proceedings. A court can even order the lender to pay damages to the borrower.
A foreclosure attorney can help you determine if your rights were violated and whether legal action can be taken. Call our Miami-area office today at 305-985-6555 or send an email to have your questions answered.