For many Americans purchasing a home and being a homeowner is the epitome of achieving the “American Dream”. For many people, their dreams have become a nightmare because of the threat of foreclosure or because a foreclosure proceeding has been instituted against them.
At the Allen Firm we understand that an individual may find themselves facing foreclosure for many reasons out of their control from losing a job to being a victim of predatory lending practices.
If you need assistance fighting foreclosure, please call The Allen Firm at 407-481-8103.
Foreclosure Defense and Loss Mitigation
Foreclosure defense is the process that takes place when an attorney representing the homeowner/borrower asserts all relevant defenses to defeat the foreclosure action brought by the lender. Many homeowners are not aware that there are usually several defenses that can be asserted on their behalf in every foreclosure action. These defenses usually have something to do with the conduct of your loan officer, items not properly disclosed and regulatory requirements that the lender has not complied with. Our firm will conduct an in depth analysis of your case and assert all relevant defenses to fight your foreclosure.
The term loss mitigation is used to describe the process that takes place when a borrower attempts to re-negotiate the terms of his/her loan with a mortgage lender. Typically, mortgage lenders will not even enter into the process of Loss Mitigation until you are in default on your mortgage or are in foreclosure. Our firm usually conducts loss mitigation along with the defense of your foreclosure in a court of law. Lenders are always more willing to re-negotiate or modify the terms of a mortgage when the foreclosure is being properly contested in the legal system.
As attorneys representing homeowners in foreclosure actions, we often negotiate any or a combination of the following possible resolutions:
a) Interest rate reduction
b) Term extension
c) Principal Reduction
d) Deed in lieu of foreclosure
e) Short sale
Please be aware there are many companies advertising that they can stop your foreclosure. Most of these companies do not contest your foreclosure case in the legal system. Therefore, these companies will lack the proper amount of leverage to re-negotiate your mortgage. If you hire anyone other than our law firm, please make sure that person is licensed to practice law in the State of Florida, has experience in the area of foreclosure law and the fee quoted includes the defense of your case in the foreclosure action. Do not hire anyone who has not agreed to represent you in the foreclosure action in order to modify the terms of your mortgage.
Our Fee:
The fee for foreclosure defense and loss mitigation is dependent upon the number of mortgages on each property and the difficulty of obtaining the desired result for the client. If needed, our fee can be split up into affordable monthly payments.