In the past, most Florida Homeowners in Foreclosure owed more to the Bank than the value of their home. When they chose to sell it, it was usually a Short Sale. However, due to the rising home prices, they may have found themselves in a position to make a profit. That is why it’s important to learn about your options. Contact the Law Office of Brian P. Kowal, PA at (954) 990-7552 to learn how Florida Lawyers help Homeowners in Foreclosure that have Equity.
Different Ways Florida Lawyers help Homeowners in Foreclosure that have Equity
It has become more common for Florida Homeowners in Foreclosure to have equity in their property. In other words, the value of their home may be worth more than the amount they owe the Bank. Instead of losing their home without making a profit, they may be able to walk away with money. However, they may not be aware that they can still sell their home. Once they are served, they need to speak with a Florida Attorney. They help the Homeowner by:
1. ADVISING THEM TO AVOID LOAN MODIFICATIONS
The majority of Homeowners want to keep their property. They do not want to lose their biggest investment. While a Florida Attorney will fight the Bank, they will tell you that the longer the case continues, the Final Judgment amount will increase. This means that if you have equity but are trying to keep your property, the amount you owe the Bank will continue to grow. Therefore, a Loan Modification will prevent you from making a profit by selling your home.
2. DEFEND AGAINST THE FORECLOSURE
If a Homeowner has not lost their property to Foreclosure, they still can sell. The benefit is that that they can pay off the Bank and walk away with a profit. However, they need to hire a Florida Attorney to increase their chances of not losing their property to Foreclosure. In other words, a Homeowner can complete the sale of their home without worrying about losing their property to a Foreclosure Sale.
3. OBTAINING PAYOFF
The Foreclosure Process seems like the end of the world to many Homeowners. However, the thought of still making money from the sale of their Home provides a bright spot. Before deciding to sell, a Homeowner needs to determine if they have equity. A Florida Foreclosure Defense Lawyer can contact the Bank’s Attorney directly to obtain the payoff. This saves the Homeowner time allowing their Lawyer to guide them in selling their property or exploring a Loan Modification or Deed-in-Lieu.
It is true that losing your home can be stressful. However, It is also true that not every one in Foreclosure owes more to the Bank than the value of their property. To learn how Florida Attorneys help Homeowners in Foreclosure that have equity, contact the Law Office of Brian P. Kowal, PA at (954) 990-7552.