When you receive a notice of foreclosure, please don’t despair. It does not necessarily mean you will lose your home. But time is of the essence to make your case. The sooner you act, the more options you will have to build a good foreclosure defense. At The Law Offices of John E. Mufson, our foreclosure defense attorneys’ goal is to help you save your home or investigate viable alternatives that you can live with. You may consider it a losing battle and view foreclosure as a no-win situation. Still, with the help of our knowledgeable foreclosure lawyers in Delray Beach, we believe we can work together towards finding a viable solution.
Foreclosure Options to Consider
The good news is that there are some great options to consider before giving up. First, your foreclosure defense attorney should take the time to consider your financial needs and goals. The experienced team at The Law Offices of John E. Mufson will advise you of a few different approaches to overcoming foreclosure. We may suggest the following:
- 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.
- 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.
- A forgiven mortgage payment – sometimes, a lender might forgive a mortgage payment or two if you promise to remain current on all future payments.
- A short sale – a short sale can be a great alternative to foreclosure. How it works is that your lender agrees to take less than they are owed. It is asking your lender to sell your property for less than the outstanding mortgage balance.
- A deed in lieu – in this type of foreclosure structure, the deed to your home is signed over to the bank. You walk away from any obligation to pay your mortgage back. Although this will leave you free and clear of your debt, it will significantly damage your credit rating, making it impossible to purchase a home any time soon.
We help you weigh all your legal options
When considering alternatives to foreclosure, it’s best to speak with an experienced foreclosure defense attorney in Delray Beach. Some of these options are ideal if you want to be free from the stress of a monthly mortgage. You may forfeit your home but in exchange for a minimal to nonexistent impact on your credit score and the ability to purchase a new home in the future. If you’ve recently received a notice of foreclosure or know that one will be coming in the mail soon, reach out to our team at The Law Offices of John E. Mufson today.
Ready to get in touch?
As you can see, there is no one size fits all foreclosure defense. There is no clear-cut path to negotiating a foreclosure settlement. Call our team of foreclosure lawyers in Delray Beach. We have years of experience in negotiating the most effective settlements. Rest assured, our foreclosure lawyers can help you determine the best path to take. Foreclosure can feel incredibly overwhelming, but there are options. Whether you’ve just received a notice of foreclosure or you’re currently embroiled in the foreclosure process, the legal team at The Law Offices of John E. Mufson can help you understand all of your options. Don’t be left out in the cold! The Law Offices of John E. Mufson can help you get your home back. We will negotiate a fair and manageable plan for you. Help is within reach. Call us today at (561) 272-1003 for a free consultation.