Foreclosure Attorneys Miami | Options To Look For In Miami Lawyers
Looking for a foreclosure attorney in Miami and don’t know what to look for? A quick Google search turns up “Foreclosure Attorney Miami” with several results and attorneys bidding to rank first in Google. But what kind of foreclosure options do you want your attorney to perform? Miami foreclosure attorneys often practice in Broward counties, Miami Dade, West Palm beach as well as the entire state.
Hundreds of thousands of foreclosures are filed each month, and nearly 97% of homeowners choose to do nothing to defend their rights or their home. Many are unsure of what to do when they fall behind on their mortgage. One of the most important things homeowners can do is take steps to understand their legal rights and develop a plan. Oppenheim Law has developed unique plans for clients throughout this foreclosure crisis and has proven to be extremely effective in implementing strategies to defend foreclosure and prevent costly deficiency judgments. You need to know the many options in foreclosure defense.
Foreclosure Attorneys Miami | Options Miami, FL Foreclosure Attorneys
A short sale is a popular tactic used to prevent or conclude a foreclosure lawsuit. It is usually used by individuals that owe more for their home than what it is presently worth. Unfortunately, individuals short sell their homes without realizing that banks will go after them for the difference of the short sale price and the debt on the home.
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Florida Foreclosure Alternatives
If you find yourself and your Florida real estate underwater, Oppenheim Law is here to assist. Many Florida homeowners owe more money on their mortgage than the current value of their home. With skyrocketing interest rates, homeowners cannot afford their mortgage and some families are losing their incomes all together. If you are dealing with underwater real estate, there are numerous alternatives to foreclosure which include:
Sometimes our foreclosure defense attorneys will decide that the best course of action for you may be a combination of the options listed above. Because each individual or family situation is unique, there is never a one-size-fits-all approach.
One of the benefits you have when working with the attorneys at Oppenheim Law is knowing that we routinely work with individuals and families, such as yourself, and thus can counsel you regarding the best options. The attorneys in our foreclosure defense law firm leave assumptions aside and provide you the time you need in order to make the best decisions for you and your family. In the end, we try to help ease your mind by providing you with peace of mind during these turbulent economic times.
Deed in Lieu of Foreclosure
Another alternative to foreclosure that our firm is experienced in facilitating is a deed in lieu of foreclosure (“deed in lieu”). This alternative to foreclosure allows a borrower to willingly transfer the ownership of the home to the lender. The lender accepts the home and. in return. will typically cancel all debts tied to the property and release you from all liability in connection with the defaulted mortgage. A deed in lieu can be a great option if you are seeking to keep a foreclosure off of your credit report.
Loan modifications are long-term solutions to foreclosure prevention. Loan modifications are recommended to homeowners who want to avoid foreclosure and stay in their homes and workout a mutually-acceptable deal with their current lender under an existing loan. If you decide to take this route, we will negotiate interest rates, principle balances and monthly payment requirements with the lender in order to strike an arrangement. Yes, it is true that you can discuss a loan modification with your lender without an attorney. It is also true that you can manage your own retirement account. Even though you can do both, neither option is recommended. The fact is, hiring an experienced attorney can substantially increase your chances of obtaining a loan modification. Our firm understands the characteristics lenders typically prefer before they grant a loan modification, and we have mastered effective methods to demonstrate to lenders that our clients indeed possess such characteristics.
Florida Foreclosure Options: Bankruptcy
Florida Foreclosure Options with Bankruptcy: Discharge Your Debt or Modify the Loan in a Bankruptcy
There are several options in foreclosure bankruptcy, such as:
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Florida Strategic Defaults
Strategic foreclosures are emerging as a popular trend as homeowners across the country are looking for ways to escape underwater mortgages.
Strategic default, or strategic foreclosure, is a process by which homeowners who can afford to continue making their monthly mortgage payments make a calculated financial decision to default on their mortgage in order to improve the likelihood of getting out from an underwater property.
Commercial Foreclosure Defense Oppenheim Law
We have successfully represented individual homeowners and investors, which has allowed us to hone our craft as one of South Florida’s most successful foreclosure defense firms. The same practices used in our residential foreclosure defense cases are now being used to represent business owners who are in dispute with their banks or lenders.
If you are facing foreclosure and are unsure of your options, it is important to remember that the sooner you develop a strategy, the more successful your foreclosure defense will be.
For many homeowners, foreclosure defense is an opportunity to buy time. In some situations, time is all a family needs to get back on their feet and remain in their home. Time also affords homeowners an opportunity to execute a short sale, strategic default, deed-in-lieu, or even a mortgage modification. Such tactics may actually prevent foreclosure and deficiency judgments.
Recently, Oppenheim Law defended a foreclosure in which the bank lost the mortgage and note and improperly transferred the mortgage from one investor to another. In fact, the assignment was not even recorded in the public records. Considering the size of banks, and the numbers of foreclosures they are processing, mistakes like these are incredibly common.
While defending this foreclosure, our client was able to short sell their property for an amount $200,000 less than the amount due on the mortgage. Oppenheim Law was able to negotiate an agreement with the bank ensuring a deficiency judgment against our client would not be pursued. The client is free of the underwater property, the bank is substantially compensated, and the possibility of a costly deficiency judgment is negotiated away. Our client is now able to continue his life without the heavy burden of banks chasing them for the next several years.
Foreclosure Attorneys Miami
Serving the entire state of Florida, Oppenheim Law is located in Fort Lauderdale with convenient freeway access to better serve clients. If you are falling behind on your mortgage, it is in your best interest to plan a foreclosure defense strategy. Don’t ignore a notice from your bank and don’t wait until a sheriff’s deputy is knocking down your door. Contact us online or give us a call at 954-280-4468 today for a consultation to discuss your options.
From the Trenches,
Roy Oppenheim is a sought-after legal expert on issues relating to real estate. In 2009, he started the South Florida Law Blog to address the real estate market and foreclosure crisis. The Blog has been voted the best business and technology blog by the South Florida Sun-Sentinel. Mr. Oppenheim has been a contributor to Yahoo! Homes, featured on HuffPost Live, FOX News, and Lifetime TV, and quoted in prominent national publications, including USA Today, The New York Times and Huffington Post. Most recently, Mr. Oppenheim hosted an Ask Me Anything on Real Estate on Reddit. Mr. Oppenheim has also co-authored two law review articles: Deconstructing The Black Magic of Securitized Trusts, and The Emperor’s New Clothes.
Mr. Oppenheim founded Oppenheim Law, one of South Florida’s leading boutique law firms in Fort Lauderdale, Florida in 1989 with his wife Ellen Pilelsky, and, in 1994, he co-founded Weston Title & Escrow, a trusted South Florida real estate title company whose multilingual staff provides personal, concierge style service in the areas of real estate closings, title insurance, title searches and escrow services.
Weston Title: https://westontitle.com/