Faced with Foreclosure or Looking to Modify or Walk Away from a Mortgage:

What are the Options?

If you and your family are behind on mortgage payments and facing a home foreclosure, or are simply questioning the feasibility of continuing to pay on a mortgage that is substantially underwater, you likely have many questions, such as:

• Why won’t the bank talk to me or help me as long as I am current with my mortgage payment?
• Is it possible to walk away from this debt and minimize the negative repercussions to my credit?
• What steps do you recommend to walk away from my mortgage?
• How may I keep my home and modify the mortgage?
• May I save my home from foreclosure?  Which approach will work best with my situation?
• Does it make financial sense to try to save my home from foreclosure?
• Do I have the right to bring a consumer counterclaim against the bank?
• Will a home loan modification work for me?
• May I walk away from my home without penalty?
• How will this foreclosure potentially affect other real estate I own?
• How does a short sale work?  Are there any legal repercussions from a short sale?
• What repercussions may I face from surrendering my home through foreclosure?
• How much time will I have in my home before it is auctioned off?
• Will the bank come after me for a deficiency?  Can they garnish my wages?
• Why does it sometimes take years for the bank to complete the foreclosure?
• Is there a valid defense to this foreclosure?  Has the bank violated my consumer rights?
• I have been served with a foreclosure complaint - what must be done within the first 20 days?
• Can you explain the differences and effects of a short sale, deed in lieu of foreclosure, and foreclosure?

Every case and situation is unique.  North Port foreclosure and mortgage workout attorney, James Keim, provides a free initial consultation so that these issues may be discussed in the context of your unique situation. It is imperative that you learn about your potential legal rights and make an informed decision about your home and foreclosure case before it is too late.

The best time to speak with a lawyer is when you have first fallen behind in your mortgage payments.  Once you are served with a summons and foreclosure complaint(a lawsuit), you only have twenty (20) days to file a written response with the Clerk of Court.  It is important to speak with a licensed attorney as soon as possible so that you do not waive important legal rights during this time period.

 

To schedule a free initial consultation with North Port foreclosure and mortgage workout lawyer, James Keim Call (941) 426-7900

James Keim is an Attorney who is Peer Review Rated for Ethical Standards and Legal Ability by Martindale-Hubbell.™