Tampa & Sarasota Florida Real Estate Lawyer and Estate Planning Attorney
Call Us: (813) 314-2475
Call Us: (813) 314-2475
Tampa Foreclosure Lawyers
Foreclosure Defense, Loan Modifications & Short Sales
If you have been served with a Foreclosure lawsuit and you are looking to hire one of the best Tampa Foreclosure Defense Attorneys you are in the right place. Since 2007, Sarah E. Peart, Esq. and Peart Law Office, PA have been vigorously fighting foreclosure lawsuits, representing homeowners in trials in the Tampa Bay Area and surrounding counties with overwhelmingly positive results.
With over 12 years of experience as a Tampa Foreclosure Defense Attorney, we will vigorously defend your foreclosure lawsuit and will build you the leverage you need in order to negotiate a loan modification, a short sale or a Deed-in-Lieu of foreclosure with your lender.
At Peart Law Office, PA you will find a confident and experienced Foreclosure Defense Attorney who can be instrumental in turning the tides on your mortgage lender. We will not only stop the stressful collections calls on the spot, but give you the confidence you need to move forward with your life.
Whether you need more time in your home or if you are ready to negotiate a resolution with your lender, call Peart Law Office, P.A. today at (813) 314-2475 to schedule your free initial consultation to speak with an experienced Tampa Foreclosure Defense Attorney.
Foreclosure Avoidance
Foreclosure Avoidance
Foreclosure Avoidance
Take a look at the different options available to you in order to avoid foreclosure by your mortgage lender. We cover everything you need to know about Loan Modifications, Short Sales and a Deed-In-Lieu of Foreclosure.
Foreclosure Defense
Foreclosure Avoidance
Foreclosure Avoidance
We have been Defending Foreclosure cases since 2007 with overwhelmingly positive results in trials. While other Foreclosure Defense Lawyers have come and gone, we continue the good fight!
FAQ
Foreclosure Avoidance
FAQ
Our Foreclosure Defense Lawyer tackles your most pressing and frequently asked questions. These are the most popular questions assembled from the thousands of initial consultations we have held over the years.
Foreclosure Avoidance Attorneys
There is usually an alternative to Foreclosure, even during trial
If you are looking for a top tier foreclosure avoidance firm in the Tampa Bay Area, look no further. We have been helping homeowners fight banks since 2007. If your lender or lien holder is threatening foreclosure, having experienced counsel by your side can make a huge difference in saving or losing your home and more (deficiency judgment).
Be wary of companies that advertise services promising to save your home from foreclosure for an up-front fee. Unfortunately, many of these programs are scams that will cost you thousands and still result in the loss of your home.
A Foreclosure Defense Lawyer can analyze your case and situation and may be able to help you postpone or avoid a foreclosure judgment altogether, giving you more time to refinance your mortgage or negotiate either a Short-sale or Deed in Lieu of Foreclosure with the lender. Should a real estate investor or short-sale company approach you regarding avoiding foreclosure, promising to make all your problems go away, you should consult a lawyer before signing anything.
We will communicate with your lender(s), real estate agent, title company, HOA, and any other parties that are involved in your transaction. A lot of paperwork, e-mails and phone calls go back and forth between all of these parties. Do not wait until you have been served with foreclosure papers to contact a Foreclosure Defense Attorney. It is a lot easier to avoid foreclosure by being proactive in the early stages of default rather than waiting until you have been served with foreclosure papers.
Whether you have been served with a Foreclosure suit or not it's never too early to seek the help of an attorney to go over your right and options to avoid foreclosure. To schedule a free initial consultation with a Foreclosure Defense Attorney please call our office at (813) 314-2475 or kindly fill out the contact form at the bottom of this page.
What is a Loan Modification?
A loan modification occurs when a mortgage lender agrees to grant a modification of one or more terms of a delinquent loan in order to make it current again. A mortgage lender may agree to the modification of the loan's, interest rate(s), the life of loan, escrow requirements, capitalizing delinquent balances, etc. There are several ways to create a loan modification.
However, when dealing with mortgage lenders and large scale financial institutions you need to keep two things in mind:
- Mortgage lenders operate solely for the purpose of maximizing shareholder profits.
- Financial institutions will take advantage of your lack of experience, when possible.
Before you give your entire life history to your lender on a loan modification application, you should consult with a Foreclosure Defense Lawyer first. Saying the wrong thing could result in not only having your loan modification application denied, but speeding up the foreclosure process. Not all of your assets or income are meant to be used to calculate your household income for the purposes of a loan modification.
Social security benefits and 401ks or pension plans are supposed to be excluded from any loan modification application, but don't wait for the bank to tell you that. If a mortgage lender finds out that it would be more profitable to auction the home rather than grant a loan modification, then your loan modification application will most likely be denied. There is a reason why the lender's department that deals with loan workouts are called a loss mitigation department. Loss mitigation is just another term for profit maximization.
By working with an experienced Foreclosure Attorney you can rest assured that the bank only receives the information they need from you, not the information they want from you. To schedule a free initial consultation with a Foreclosure Defense Attorney please call our office at (813) 314-2475 or kindly fill out the contact form at the bottom of this page.
What is a short sale?
A short sale is the process of selling a home for the current fair market value, which is currently less than the mortgage's remaining outstanding balance. Just as with loan modifications, lenders will typically ask for a lot of personal financial information. We make sure that they only receive the bare minimum necessary to process your application.
We have seen lenders try to get people to sign a promissory note unnecessarily as well as make unreasonable demands in order to maximize profits from a short sale. They can demand that you pay delinquent HOA dues or that you make a contribution to the sale. Most people will save money in the long run, by hiring an attorney for their short sale, who will at the same time, defend the pending foreclosure in court.
Once your short-sale package is complete and properly submitted, your lender will take approximately 30-45 days to assign the offer to a negotiator. However, all time-periods and procedures are contingent on the individual lender involved. Most banks and their investors are very backed up with short-sale offers due to the current state of the economy and real estate market. It is crucial that you have an advocate to follow up with your lender to ensure your transaction goes as smoothly and quickly as possible.
Once the offer is accepted, the buyer closes on the house using a title company or closing agent to complete the deal. If the transaction was negotiated properly, after payment is submitted to the lender, you should get to walk away free and clear from the mortgage debt. A release from the debt is much harder to obtain when negotiating the short sale without an experienced, assertive attorney. Your lender will only act in its best interests and a foreclosure defense attorney is best qualified to argue the benefits that a release from a deficiency would have on both parties.
Another little-known factor that influences the lender’s decision is the existence of an insurance policy on your mortgage. If there is a policy in place, it would cover any of the lender’s loss from a short-sale. Even if you do not have PMI (Private Mortgage Insurance), it is possible that your lender took out a policy on its own, though the lender will not share this information with you.
Apart from any deficiency amount that could remain, another important issue often overlooked during the short-sale process is the imminent or pending foreclosure lawsuit. Short-sales take months to finalize and it is very likely that your lender will institute an action against you to foreclose on your home during this time, even if you are attempting diligently to work out a solution with the bank. The foreclosure lawsuit acts as a backup for the bank, in case a workout is not obtained.
Many people that do not hire an attorney to negotiate the short sale or for trial in a foreclosure lawsuit believe they can get the short sale approved before the lender’s attorney can foreclose on the home. This is simply WRONG and a very risky gamble. Delays in short-sale transactions occur all the time and a default judgment can be obtained by the bank if you do not respond to the law suit. If the short-sale falls through and no response was submitted to the court, the borrower waives any rights or defenses he/she may have had and may face a deficiency judgment. Furthermore, if you do not answer the complaint you may never even see a trial.
To schedule a free initial consultation with a Tampa Foreclosure Defense Attorney please call our office at (813) 314-2475 or kindly fill out the contact form at the bottom of this page.
The difference between an Attorney and a Short-Sale company
Apart from the fact that short-sale companies are not allowed to give legal advice, they cannot defend your foreclosure lawsuit and trial. Short-sales are not normally approved by most lenders, until you are least 90 days delinquent on your mortgage payments. Simultaneously, most lenders will refer your account to their foreclosure attorney after 90 days of delinquency,
This means that in most cases a foreclosure action must be defended in court at the same time as negotiating an alternative to foreclosure with your lender. If you hire a short-sale company you may still have to hire an attorney to defend your lawsuit anyway. In that case you will usually pay twice for the work that a Foreclosure Defense Attorney could have performed in the first place.
To schedule a free initial consultation with a Tampa Foreclosure Defense Attorney attorney please call our office at (813) 314-2475 or kindly fill out the contact form at the bottom of this page.
Foreclosure Defense Attorneys
Experience on your side when it matters the most
Foreclosure Defense is our bread and butter. It is how we built our name and reputation. For years after the real estate bubble burst most of our business involved fighting banks for a living. We still love working with homeowners to keep them in their home. Any lawyer that has witnessed a trial of ours remembers it.
Most people do not consult with a Foreclosure Attorney until they have already been served with a Foreclosure action or after a judgment has been entered. If there is ever a time to consult with an attorney, it is now! To schedule a free initial consultation with a Tampa Foreclosure Defense Attorney please call our office at (813) 314-2475 or kindly fill out the contact form at the bottom of this page.
Should I walk away from my home?
Television and radio shows have covered this subject extensively since the real estate market crashed back in 2008. This desperate move occurred all over the country, in a move many Americans saw as their “last way out”. What these programs failed to mention is that the repercussions of walking away from your home, and its debt, vary tremendously by the state in which you live.
What can happen if you walk away from your home?
In Florida, if you walk away from your home, once you lose the home to the lender in a foreclosure lawsuit, it will be sold at auction. Once it is sold, the lender will try to recover their losses through a motion for deficiency judgment, which is usually granted through the foreclosure lawsuit. Your assets could be seized and your paycheck garnished to fulfill this deficiency. A deficiency judgment is valid for 20 years in Florida.
Most short sales and deed-in-lieus negotiated by a Foreclosure Attorney will release you of any debt. Sometimes you may be required to bring something to the closing table. But if you do, compared to the debt, it will be pennies on the dollar.
When people defend foreclosures by themselves, they usually lose the home faster than with an attorney and most people will not negotiate away the deficiency judgment. Legal representation in a foreclosure action is imperative to achieving the best outcome possible in the long run, given the circumstances.
An uncontested foreclosure lawsuit can be finalized in just a few months. However, if you hire a Foreclosure Defense Lawyer to defend the lawsuit, the process often take much longer, which gives you more time to live in the home and work out an alternative to foreclosure with your lender.
In Florida, if you fail to respond to a foreclosure complaint within 20 days of the date of service, you are subject to entry of a default judgment against you. A deficiency judgment can still be sought in the court action, and if granted, would be collectible against the Defendant Borrower and his/her assets and wages for 20 years. A Foreclosure Defense Lawyer can negotiate the short-sale with your lender, while at the same time appearing for and defending you in the foreclosure lawsuit.
The costs of hiring an lawyer are minuscule compared to the debt at hand and the potential for a foreclosure judgment. We can fight the foreclosure while working out a solution with your lender, so that you, the borrower, can “walk-away” legally and with the peace of mind that the transaction was completed correctly and pursuant to all applicable laws.
To schedule your free initial consultation please call our office at (813) 314-2475 or kindly fill out the contact form at the bottom of this page.
What is a deed-in-lieu of foreclosure?
A deed-in-lieu of foreclosure, when granted by the mortgage lender, is the act of you signing over your deed to the lender, in exchange for a release of the remaining debt owed. We have negotiated many deed-in-lieus for our clients over the years, but we have never advised our clients sign a promissory note in exchange for it.
What is a Judgment-in-Rem?
A Judgment-In-Rem means a judgment in name only. It basically means a judgment for foreclosure without the right to go the after the borrower for any deficiency from the sale or auction of the home. It is a very similar workout to a deed-in-lieu except no deed changes hands.
We offer flat fees
During a foreclosure lawsuit, your budget is tight. We know this, and that is why we offer flat fees for defending foreclosures, so that you know what your legal costs will be every month. Your costs will not vary throughout the length of your case. A Foreclosure Defense Lawyer is much more affordable than you think. To schedule a free initial consultation with our attorney please call our office at (813) 314-2475 or kindly fill out the contact form at the bottom of this page.
Tampa Foreclosure Attorneys FAQ
What is a foreclosure scam?
What kind of foreclosure scams should you be aware of? Be wary of anyone that promises to take over your mortgage payments in exchange for signing over the deed to your home. Most of these scams end up falling apart because the new owners never make any mortgage payments to the bank, let alone pay off the remaining balance. These people make a profit by taking income from the property without ever paying the lender(s).
If you feel that you may have been preyed upon or scammed by a foreclosure avoidance company please call our office at (813) 314-2475 or kindly fill out the contact form at the bottom of this page to schedule a free initial consultation with our Foreclosure Attorney.
Should I sign a promissory note?
You proudly managed to negotiate a short sale (or deed-in-lieu of foreclosure) with the mortgage lender on your own, but you have been asked to sign a promissory note. What should you do? Don't sign anything without discussing it with a lawyer first. We don't recommend that people sign promissory notes in order to end the foreclosure proceedings.
Why should I hire a Lawyer?
Simply put, we will negotiate a much better loan modification, short sale or deed-in-lieu deal that you could on your own, most of the time. We gain leverage through the defense of the foreclosure action in order to get you a better deal outside of court. Most people simply cannot do that on their own.
How long does a foreclosure take in florida?
In Florida it can take as little as a few months in an uncontested foreclosure to years in a properly contested foreclosure lawsuit. That is how we are able to negotiate better deals than most people acting pro-se (defending oneself) or with an inexperienced Foreclosure Defense Lawyer.
After a borrower misses 3 or 4 mortgage payments a lender will usually commence foreclosure on the home. If you do not answer the foreclosure complaint (uncontested foreclosure) a default judgment will be entered against you. If you do answer the foreclosure complaint, then the lender’s attorney will usually set a hearing requesting a summary judgment of foreclosure. The hearing date will be set If a motion for summary judgment is granted, sale of the property is usually scheduled 30-90 days from the judgment date.
After the sale and issuance certificate of title, if the property the new owner of the property, will need to evict you from the property in question. This process is performed through the courts and the Sheriff’s office and can take another 2 weeks or so. In total this comes to about 3 and a half to 4 months from the Foreclosure Summary Judgment hearing before the Judge.
The total timeline, from filing of the Foreclosure Complaint to eviction can take at least 6 months, depending on the court calendars and how quickly the lender’s attorney moves. From default of your first payment to eviction can take about 9 months. All of this is considering you do not have an attorney by your side. With a Foreclosure Defense Attorney by your side, the timeline is more like a year or two.
To schedule your free initial consultation please call our office at (813) 314-2475 or kindly fill out the contact form at the bottom of this page.
Foreclosing on Property by Individuals and Small Businesses
We do not represent banks. We never have and never will. However, we do represent individuals and small businesses who need to foreclose on property in order to collect their debt. If you or your business needs to foreclose on property because the borrower has stopped making mortgage payments then we can help! Who could better assist you than a Foreclosure Defense Lawyer?! Please call our office at (813) 314-2475 to obtain a quote or schedule a free initial consultation with a foreclosure lawyer.