Orlando Real Estate Reorganization Attorney | Orlando Real Estate Reorganization
If you are having mortgage problems in Orlando and you aren’t sure what to do, what you may need is a real estate reorganization. A real estate reorganization is the process of deciding how to save or hold on to your Orlando real estate or if surrendering it would be the best option. This involves one of our Orlando bankruptcy attorneys examining the value of the property, how much is owed, whether the mortgage debt can be modified, and what can be done using the tools at our Orlando bankruptcy law firm’s disposal in a Chapter 13 Bankruptcy case.
This involves exploring all options...loan modification, short sale, deed in lieu of foreclosure, surrender in bankruptcy or curing defaults and-or modify the mortgage in Chapter 13 Bankruptcy...then our Orlando bankruptcy lawyer will look at this in relation to the persons overall financial condition and determine WHAT MAKES THE MOST SENSE.
An example of this would be a client with a first and second mortgage....regular income, slight negative equity...The solution would be to file a reorganization bankruptcy case (a Chapter 13) to keep the house. Our Orlando bankruptcy law firm can lien strip off the second mortgage, go to mediation in bankruptcy court and modify the first mortgage. By also including all other debts, many of which will not receive much, our Orlando bankruptcy law firm lowers debt to income ratio and the client emerges from the reorganization keeping assets on better and more affordable terms and discharging other debts. This situation is very similar to GM's Chapter 11 bankruptcy, where they kept some assets, surrendered nonperforming assets, paid some debt, discharged other debts...and they emerged from their bankruptcy much stronger.
Call 407-647-8833 or contact us here 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, Orlando, North Orlando, South Orlando, East Orlando, West Orlando, Melbourne, Titusville, Cape Canaveral, Daytona Beach and New Smyrna Beach, and the counties of Orange, Seminole, Lake, Polk, Brevard, Volusia and Osceola.