Foreclosure Defense

Orlando Foreclosure Protection  | Orlando Bankruptcy Law Firm | Protect yourself from foreclosure in Orlando

Orlando Foreclosure Protection Overview:


• Questions to consider when facing foreclosure

• Defending The Lawsuit and Loan Modification

• Why Bankruptcy may help


Orlando Foreclosure Protection Details:

Questions to consider when facing foreclosure in Orlando


1. How much equity remains in the property? 


2. How affordable is the mortgage payment? 


The answers to these two questions may help you decide whether it is worth fighting for the property, whether modification is an option and whether filing for bankruptcy in Orlando may help you save your house. Surrendering property in bankruptcy may also help relieve you of the tax and deficiency liability consequences that are involved with a short sale or a full foreclosure. Our Orlando law firm can help you answer these two questions and help you decide where to go from there.

Defending The Lawsuit and Loan Modification

Many banks have accepted Troubled Asset Relief Program monies also known as TARP and other funds under the 2008 Emergency Economic Stabilization Act.  In March of 2009, President Barrack Obama launched the Making Home Affordable Program (HAMP) and many banks have become signatories to the program and therefore have certain duties to attempt loan modification.  This may be a legal defense to the foreclosure lawsuit and asserting that defense through legal counsel or may get your considered for a loan modification under the federal program or as part of a settlement and protection of the foreclosure lawsuit.

Why Bankruptcy May Help?
Many consumers don’t know that Chapter 13 Bankruptcy is really a reorganization process that allows certain debts to be adjusted (lowered) and other debts to be discharged.  For example, in a situation where you have two mortgages on your home, but the current appraised value of your home is actually less than the amount you owe on your first mortgage, we can “lien strip” the second mortgage off and it is wiped out upon discharge in a Chapter 13 Bankruptcy case. 
Another example where Chapter 13 bankruptcy may help you is where the mortgage problem is resolved through loan modification but you have other debts you cannot afford that make it hard for you to make your modified mortgage payment.  And if you are at the point where you no longer wish to keep the property and just want to protect yourself from a deficiency judgment or tax liability on short sales of investment property, Chapter 13 bankruptcy can help protect you.

Call 407-647-8833 or contact us at our Orlando office to make an appointment for a free consultation.

BAKER LAW, PL serves the Central Florida and seven-county Orlando area, including the cities of Sanford, Lakeland, Lady Lake, Kissimmee, Maitland, Lake Mary, Oviedo, Winter Garden, Winter Park, Windermere, Lake Nona, Apopka, Mount Dora, Winter Springs, Longwood, North Orlando, South Orlando, East Orlando and West Orlando, Melbourne, Titusville, Cape Canaveral, Daytona Beach and New Smyrna Beach, and the counties of Orange, Seminole, Lake, Polk, Brevard, Volusia and Osceola.