Fort Lauderdale Foreclosure Attorney

When Should You Reach Out To A Fort Lauderdale Foreclosure Attorney?

There are several reasons to talk to a Fort Lauderdale foreclosure attorney. You may be in the midst of a foreclosure battle, or you may have found a property you wish to purchase. You likely do not have the expertise to manage a foreclosure, but you can work with someone who understands your predicament. Below are some ways a foreclosure lawyer can help you and explanations on just how they can be an asset to you.

Are You In The Middle Of A Foreclosure?

When you have been foreclosed on by your bank, you need to speak to a lawyer about your options. Your lawyer can reach out to your mortgage lender about saving your home and can work out an agreement that will help you get back on track. In most cases, the bank will lose money if they need to sell your home. They would prefer you to stay, but your lawyer should create a contract that you and the lender will abide by.

If the lender does not want to agree to a new contract, your lawyer may help you receive additional time to move out and find a new place to live. Your lawyer may review your loan to look for options that you might have missed, and your lender will work with the lawyer to come to a resolution.

Can You Talk To A Lawyer Before A Foreclosure?

Yes. You should speak to a lawyer when you are “upside-down” on your home. The lawyer will help you understand what can be done to move on from the home and will assist with your exit from the house without damaging your credit. You are also able to get a short sale approved that allows you to sell the house for less than you owe. The lender will agree to write off the losses, and you can say that you sold the house.

You may choose to complete a “deed-in-lieu of foreclosure” which allows you to simply hand over the deed. This is reported on your credit, but it is not as bad as a foreclosure. The lender will send documentation to the county or city saying that the house has been paid off, and there will be no more outstanding liens.

Should You Speak To A Lawyer When You Want To Buy A Foreclosed Home?

Your foreclosure lawyer will be able to help you when you wish to buy a foreclosed home. Some homes on the market are waiting for auction, but your lawyer can help you purchase the house before it goes to auction. This is a good way for you to buy the house at a low price. The mortgage company may be anxious to sell it for a fair price and does not want to live with the finality of the auction.

Your lawyer will research the property and will let you know if they can get the house for a good price. Your attorney may need to research the title for the house and may find outstanding liens that were never dealt with. In essence, a home may have been sold under false pretenses, allowing for you to be able to purchase it for even less money.

Can You Protect Your Business?

If you want your business to remain in operation after a foreclosure, you should hire an attorney to help you complete the sale of the property as fast as possible. You do not want your company’s credit rating to drop because you have a foreclosure on your record, and you will need extra time to find a place to move your operations.

If you are renting a building that was foreclosed on, you may ask your lawyer to make an offer on the building. You can stay in a building that you got for a good price.

Research Bad Business Practices

If you have issues with bad business practices, you may believe that the lender is not acting appropriately. When this is the case, you should ask your lawyer to review what the lender has done to collect on the house. There are times when the lender is charging too many late fees, or you might have been charged extra fees for the foreclosure.

The lawyer will ensure that the mortgage is handled properly, and they will hold your lender accountable if anything is wrong.

Get Help With Commercial Properties

When you would like to buy commercial property out of foreclosure, you are dealing with a company that owns the building and the lender. You can work out a deal that will allow you to buy the building from the company instead of dealing with the mortgage company. You will be able to satisfy both parties, and you will help the seller avoid foreclosure.

If the building is very old, you can work with the city or county to buy the property for a reasonable price. You can research the property, ask the city or county for special perks, and can complete the sale quickly. Your lawyer will draw up the contract and can use their understanding of the law to work out a deal that allows for the building to be offered at a better price.