There is a foreclosure crisis in America. A family’s dream of home ownership, the foundation of American values, is in jeopardy. Brown & Associates would like to help.
If your home is heading towards foreclosure, or you are considering loan modification, a short sale, or a deed-in-lieu of foreclosure, then the foreclosure attorneys at Brown & Associates can help. If you are in Tampa, Clearwater, St. Petersburg or anywhere in the Tampa Bay area then we would be happy to provide a free consultation to help you determine your best strategy for keeping your home or, if necessary, leaving your home with dignity.
At Brown & Associates we’ve helped many homeowners and families who are facing the frustration of foreclosure. We can help work through your options and discuss your alternatives. You certainly want to stay in your home if it makes sense and if you must leave, you want to maintain your credit rating and salvage as many assets as possible with an aggressive foreclosure defense. Loan modifications and short sales are both ways you can avoid foreclosure.
If you begin to realize you will have a problem paying your loan on time contact your lender. This is something most folks in trouble never do. It’s a big mistake. Your lender does not want a defaulted loan any more than you do. They are probably anxious to try and work something out. But you must be honest about your situation. There’s no point in painting a picture that’s rosier than it actually is. Tell them exactly what you can do and what you can afford. Don’t mislead them or yourself.
Remember you have rights. Foreclosure laws are there for your protection. The more you understand your rights and responsibilities the better chance you have of doing the right thing.
We can help. Foreclosure proceeding in Florida must follow a very specific process. Make yourself knowledgeable of that process. Learn more here.
If you are facing foreclosure, or even are just behind on your mortgage payments, it may be time to consider your alternatives, and what the credit ramifications are for those alternatives.
The fact is, any time you get behind on your payments of any kind, your credit is bound to be affected. Now in the case of going into foreclosure, the credit “hit” will be the worst. But even being behind on a few payments is often basis for your lender to make the credit reporting bureaus aware of your problem.
As you probably know your credit score is important. A good score can save you many thousands of dollars in interest charges. Plus it can help you get credit for things you and your family need. Your FICO score, which stands for Fair Isaac Corporation, the originators of the index, is used by almost every lender to determine an applicants ability to pay back a loan.
Problems with paying bills will affect your credit score. A foreclosure will affect your credit score severely for a long time… usually in the neighborhood of 7-10 years. Learn more about credit issues here.
And there are many possible scenarios. Your foreclosure can be stopped in its tracks and possibly avoided altogether. Remember a foreclosure is not in the best interest of the lender either. They are open to negotiations. A loan modification is clearly a possibility. And even doing a short sale can be the right option for both parties. It really depends on your situation.
At Brown & Associates and Brown & Associates Title Division we have helped many Tampa Bay home owners during foreclosures, loan modifications, and through the short sale process. We are experts in this area and are anxious to use our expertise to help home owners during these troubled times. Here’s some reasons you might want to seek our help.
What Is Filing Bankruptcy?
Bankruptcy is the process of settling your debts with creditors through arrangements with the US Bankruptcy court. If you can no longer meet your debt obligations then the United States Bankruptcy laws are designed to help you and creditors reach a settlement. The settlement can be a complete liquidation of your assets or a reorganization of your payments for your debts.
And bankruptcy is not only for individuals. Many businesses can get back on their feet by arranging the appropriate settlement with their creditors and vendors. Going into bankruptcy doesn’t have to mean that you go out of business. In fact, it may be the best solution for staying in business. Learn more here.
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A great way to avoid foreclosure is to arrange a loan modification with the lender. Depending on the lender they might be very open to this option. Of course they will try to do the loan modification in their favor, so having a knowledgable attorney that understands the process is very helpful.
And today the government as several programs designed to help homeowners stay in their home, or bow out gracefully. The government’s Home Affordable Modification Program (HAMP) and their newer Home Affordable Refinance Program (HARP) can give a distressed homeowner some real options for getting out of a bad situation. Go here to learn more.
I wanted to share my experience with Brown & Associates.
I have a property that was severely underwater and I owed $500,000 to the bank. I tried to negotiate with the bank but I was not getting anywhere.
I hired Brown & Associates to help with my negotiations. The result… They managed to settle my loan for $50,000 in only 90 days. I saved almost $450,000.
They handled all the negotiations and I didn’t have to do anything during the process. The bank stopped calling me right away. And I was out from under a very bad situation, thanks to the professionals at Brown & Associates.
I highly recommend Barbara and her team at Emery. They were a pleasure to deal with. They were professional at all times and they came up with the complete strategy and approach which resulted in me saving hundreds of thousands of dollars. Not to mention the relief I felt getting this loan settled.
Thank you for consulting with us earlier today. My wife and I went to your firm with little hope for a resolution to our problems but have left uplifted. I also wish to thank you for such a speedy outreach to opposing counsel.
A few months ago, a co-worker had his mortgage modified to a 2% interest rate. I was hopeful that I too would be offered that earlier this summer but the modification paperwork did not allude to the rate, the change in term, the principal or any other amount other than a monthly mortgage that is much higher than what we can afford. Given that we have to invest so much into the home to make it livable for the long term, we were looking to be around half of that amount.
In fact, a mortgage loan calculator showing the amount of $148,000 for 30 years at 2.0 and 2.5 % came up with a payment of $547 and $585 respectably. If that or something close to those figures would have been offered we would have been all in.
My wife and I remain optimistic that our situation could be reversed and we can finally plan the family we hope to establish in the house we had set out to call home five years ago.
Thank you,Peter and Bernadett