Orlando Investment Properties Foreclosure Attorney | Investment Properties
Orlando Investment Properties Overview:
Orlando Investment Properties Details:
What is Investment Property?
Investment Property is property purchased specifically to generate profit through rental income and/or capital gains. Many people have turned to owning investment property as a means of income. When unforeseen economic problems hit, it can have a major impact on an investment property owner. As with any property facing foreclosure, it is important to act quickly and not let the situation get out of hand.
Steps to follow when facing foreclosure on your Investment Property
Get foreclosure counseling first to determine your options. Also, an attorney will be able to help counsel you on your options when facing foreclosure on investment property.
Next, contact the mortgage company that holds the note on your property. The company may be able to offer an option to help defer your loan and allow you to keep your investment property.
If the mortgage company is unable to defer your payment, refinance the property at a lower rate or request a loan modification. Sell the property if there is no way to refinance, or contact an Orlando attorney who can help you sell your property.
If you must, do a short sale on your investment property. This means selling for an amount less than your total mortgage that the mortgage company agrees to accept as payment for the property.
Offer to deed the property back to your lender as a last option. A Deed-in-lieu of Foreclosure can be done to give the property back and take less of a hit to your credit.
If you’d like further information about Investment Properties, contact our Orlando law firm at 407-647-8833
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.