Do I Need a Foreclosure Defense Attorney in Delray Beach?

While the housing market is somewhat stable today with interest rates still at all-time lows, statistics show that with 1 in every 1230 Florida houses sold, a homeowner will receive a notice of foreclosure. Ifyou’re a South Florida homeowner that received a foreclosure notice recently, you’ll want to contact a great foreclosure attorney in Delray Beach right away to get you through this difficult time. When you’re facing the threat of a foreclosure or have just received a foreclosure notice, it’s time to call the Law Offices of John E. Mufson. With our help, you can work towards the most effective foreclosure defense possible, preserving your assets, your finances and your even your home. Foreclosure defense can seem overwhelming, but with a foreclosure attorney in Delray Beach on your side, you can rest assured that we will have your best interests at heart.

Options to consider when facing foreclosure

There are some options to consider before giving up. First, your attorney should take the time to consider your financial needs and goals. There are different paths you can take when you’re faced withthe possibility of foreclosure on your home like:

  • Consider a loan modification – This does not always work in your favor as the loan may end up costing you more in interest over time. But it is an option to buy you more time.
  • Consider forgive a payment or two – sometimes a lender might forgive a payment or two if you promise to remain current on all future payments. It’s worth a try in any case.
  • Consider a repayment plan – this may buy you some time to come up with a payment plan that works for everyone. Spreading payments out over a set amount of time may be a viable option.
  • Consider a short sale – a short sale can be a great alternative to foreclosure. Essentially it is asking your lender to take less what than they are owed on the balance of the mortgage loan.
  • Deed in lieu – in this type of foreclosure the deed to your home is signed over to the bank. You just walk away. But not so fast. Although this will leave you free and clear of your debt, it will destroy your credit rating and make it impossible to purchase a home for years to come. When considering this option or any alternative to foreclosure, it’s best to speak with a foreclosure attorney in Delray Beach like the experienced legal team at the Law Offices of John. E. Mufson.Some of these options are viable alternatives to foreclosure that may be ideal for individuals looking to save themselves from the stress of a monthly mortgage. You may forfeit your home but in exchange for minimal to nonexistent impacts on your credit score and the ability to purchase a new home in the future. While it’s important to take the time to consider your best approach towards foreclosure, it’s important to find the best legal counsel quickly to ensure you fight your foreclosure with viable alternatives in a timely manner. If you’ve received a notice of foreclosure, or if you know that one will be coming soon, reach out to our team at the Law Offices of John E. Mufson today. We will help you devise a plan of action that works for you, then walk you through it from start to finish. To get started with your free consultation, please call our law office at (561) 272-1003. You’ll be glad you did!