Kissimmee, FL Lawyer | Find the Right Strategy for Your Foreclosure Situation | Osceola County 34741

16 Foreclosure Defense: Find the Right Strategy for Your Situation Introduction: Are you facing foreclosure but not sure what
to do? Should you attempt a short sale, a modification, or try to fight the foreclosure?
In this video I will explain which option is appropriate for which situation and help
you find the right strategy for you. For those of you I haven’t met, I’m David
Hicks of Alliance Legal Group. We are a Florida based law firm that focuses on foreclosure
defense and other alternatives to foreclosure. We counsel clients every day on the appropriate
course of action for their circumstances when trying to avoid foreclosure. I’m going to
give you an overview of the main strategies and explain when they are most useful. Let’s
get started. Topic: For those who are completely underwater and
want to move but can’t because of an upside-down mortgage, or who simply do not want to deal
with the headaches of homeownership anymore, a short sale or deed-in-lieu may be a good
option. A short sale allows you to sell the property for less than the total amount due
on the mortgage after the bank approves the sale. The goal here is to get the property
sold without having to pay a deficiency judgment. Similarly, if you are already going into foreclosure,
a deed-in-lieu may be a good option. This allows you to give title to the property directly
to the bank rather than going through the hassle and expense of fighting a foreclosure
lawsuit. Again, the idea is to avoid a deficiency judgment. These options are known as exit
strategies and apply when you do not care about losing the property and would rather
move on. If you would like to keep the property, you
should consider trying to obtain a loan modification. It is important to know that time can be against
you when you try to modify your loan. The sooner you try to modify, the better. Another
option is to refinance the property while the loan is still current under a government
program. You can reduce your monthly payments and make it possible for you to afford to
keep your house, all while avoiding the damage to your credit and the headaches of responding
to a foreclosure lawsuit. If you’re behind in payments it’s also possible to get a
good loan modification but most people need help to do it because it’s a complex and
frustrating process. For some, the best strategy is simply to hold
on as long as possible. Perhaps you have lost your job or experienced some other setback
that is going to make it impossible for you to either pay the mortgage or move anytime
soon. In that case, you best bet may be to try to have a good lawyer fight your case
and stay in the property as long as possible while trying to work out a deal with the bank.
Often, simply filing defenses and actively participating in the foreclosure case is all
it takes, as many of the law firms that specialize in bank foreclosures do so on a volume basis.
If something creates more work for the firm, it is in their best interest to put it aside
and move on to other cases that they can push through much faster. As a result, your case
could bog down for months or even years, giving you time to improve your circumstances, find
alternative housing, or take advantage of another program that may come along to help
people in your situation. Closing: Of course, there are dozens of reasons you
may want to avoid foreclosure, and many more ways to do it. Your best option will be to
discuss your case with an attorney who can help you determine the most appropriate course
of action for your situation. At Alliance Legal Group, we help people to avoid foreclosure
and stay in their homes everyday. We are dedicated to helping people, just like you, and we would
be happy to provide you with a free, no obligation consultation. But, the sooner you act, the
better the chances of getting you the results you want. You can email me at [email protected]
or give us a call at 1-866-560-4440. I’m David Hicks, have a wonderful day!

1 thought on “Kissimmee, FL Lawyer | Find the Right Strategy for Your Foreclosure Situation | Osceola County 34741

  • Good video on all the possibilities. It's good to know what to do in my particular situation. I'm sure this video is helping many people.

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