LET US HELP YOU SAVE YOUR HOME

You have options. Remember, as a homeowner, if you find that you can no longer make your mortgage payments that you have options and you can exercise one of several alternatives. Refusing to service your debt is one option but the mortgage company will file a foreclosure action against you. This action will mar your credit considerably.

Read further to narrow your options, then give us a call at 954-523-8787 or complete the Contact Us form and we will make sure that one of our legal experts works closely with you so that the steps you take are feasible, plausible and legal.

SHORT SALE
By definition, a short sale occurs when the total amount outstanding to the lender for the property in question is greater than what it is sold for. This is one way to avoid a foreclosure and still pay off your loan in a settlement with the lender and is best handled by an attorney.

We will work closely with you and the lender to determine and meet their requirements, while helping the alleviate the stress associated with the process.

DEED IN LIEU OF FORECLOSURE
This action can be defined as a voluntary repossession and is a mutual or consensual transaction between the homeowner and the lender. In this scenario you sign over the deed or the title to your property to the lender. This can be done only if there are no other liens on the property. The lender may then try to sell the property in order to recover a part or all of the amount borrowed. It is important for the borrower to work along with an attorney so as to avoid legal and tax consequences.

FORCED DEED IN LIEU OF FORECLOSURE
A forced deed in lieu is so named because it is initiated or prodded by the homeowner and not agreed upon as an option by both parties. We would in this case prepare a Special Warranty Deed in Lieu of foreclosure on your behalf; have it properly notarized and witnessed and recorded by the Courts in the county where the property is located; Dispatch an original copy with the recorded deed to the lien holder (lender) for your property with a letter of explanation. Considering the process, this option should best be exercised with the proper guidance of your attorney.

CHAPTER 13 BANKRUPTCY (Reorganization)
As a homeowner, filing Chapter 13 Bankruptcy will allow you to restructure your mortgage and other debts based on a court approved repayment plan and thereby making all your monthly payments more manageable. You would file Chapter 13 if you are interested in keeping the property in question.

CHAPTER 7 BANKRUPTCY (Liquidation)
Filing Chapter 7 means your non-exempt assets are sold by an appointed trustee and the funds used to pay off your creditors. The Law Offices of Cohn & Monioudis has some of the best Bankruptcy attorneys in South Florida.

YOUR FORECLOSURE RIGHTS IN FLORIDA
As a borrower you have the right to defend a pending foreclosure action by a lender to enforce provisions under Florida Law, such as the right of redemption, and right to reinstatement, etc. Before proceeding with any of the options detailed above, give us a call to obtain legal guidance.