Florida Foreclosure Defense Overview
Developing solutions for clients facing repercussions of the real estate crisis
Foreclosure defense is more than just saving a person's home. The process involves calculating methods of obtaining immediate relief and long-term financial positioning. The attorneys at the Law Offices of Schwartz | White have more than 50 years of combined experience in practicing law in Florida. In addition to assisting divorcing spouses, our Boca Raton law office helps families facing financial difficulties with their real estate and mortgage needs.
Loan modification workouts
A loan modification workout describes a variety of options for homeowners who have defaulted on their mortgages. Our team devises tailor-made foreclosure defenses, such as:
- Reinstatement of defaulted loans — Our lawyers negotiate for reinstatement of the original mortgage for homeowners who have temporarily fallen behind on payments.
- Forbearance on payments — Often combined with reinstatement, loan forbearance permits homeowners to delay payments when they anticipate receipt of adequate funds in the future, such as an annual bonus, start of a new job, personal injury settlement award or tax refund.
- Arrearages repayment plans — We convince banks to accept repayment plans that allow homeowners to make regular payments along with a portion of delinquent amounts each month.
- Mortgage modifications — For homeowners who have funds to make a portion of their payments, our attorneys can often arrange for a mortgage modification that may include transferring missed payments to their loan balance, reducing the interest rate, altering adjustable rates to fixed rates and extending the number of years for repayment.
Real estate conflicts arising during divorce
Real estate issues often arise during divorce, including questions of who keeps the home, how to justly divide equity in the property and how to allocate the mortgage debt. Resolving these complex matters requires extensive insight and effectively dealing with the banks that provided the loans. Divorcing parties who negotiate a fair settlement often need the assistance of a lawyer to obtain cooperation from the financial institutions that have money at stake. For example, if financing cannot be obtained, a spouse who is awarded the home may not be able to realize the terms of the agreement. Also, the home may have decreased in value, causing the debt to become greater than the home’s equity. In this case, the plan of action may include negotiating a loan modification workout or other foreclosure defense.
The Law Offices of Schwartz | White considers the complicated issues of mortgage lending and foreclosure during divorce. We strategize the arrangement that puts our client in an equitable position concerning homeownership, property settlement, debt reduction and future financial security.
Consult our Boca Raton attorneys about establishing an effective Florida foreclosure defense
To save your home from foreclosure, call the Law Offices of Schwartz | White at 561.391.9943 or contact us online to schedule an appointment. We serve all of South Florida from our Boca Raton office, conveniently located off I-95 in the Bank of America Building. Free parking is available.