Orlando Foreclosure Protection

Orlando Foreclosure Protection | Protect Yourself From Foreclosure in Orlando
In recent years, there have been a record number of foreclosures in the United States, especially here in Central Florida. We experienced a boom in values due largely to speculation and easy credit.  That easy credit fostered a speculative real estate climate of buying and flipping properties and tapping home equity for cash. When the market dropped due to a lack of financing and the fallout from adjustable rate lending when interest rates were later raised, many homeowners got squeezed and are now in trouble because they did not get the refinance promised to them when they entered into their ARM loan.  In many situations, mortgage brokers and lenders pushed subprime mortgage loans that were not fully explained to consumers.
If you are facing the prospect of foreclosure or are already involved in foreclosure proceedings, it is important to understand your rights and your options. BAKER LAW, P.L. can guide you through the process and help protect you and your assets from foreclosure.
When your mortgage is manageable, the best option to save your home from foreclosure may be to file for Chapter 7 or Chapter 13 bankruptcy. Contact a lawyer at BAKER LAW, P.L. and let's discuss which option works best for you.

CONTACT US TODAY AT 407-647-8833 FOR A FREE, NO OBLIGATION, CONSULTATION

Understand Your Options in Foreclosure

• DEFENDING THE LAWSUIT
• LOAN MODIFICATION
• CHAPTER 13 or CHAPTER 7

When you are facing foreclosure, there are two important questions to consider:

• How much equity remains in the property?
• 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 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 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 TARP monies and other funds under the 2008 Emergency Economic Stabilization Act.  In March of 2009, President Barrack Obama launched the Making Home Affordable Program 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 in the case may get your loan considered for a modification under the federal program or as part of a settlement of the foreclosure lawsuit.

Why Bankruptcy May Help
Many consumers don’t know that Chapter 13 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 case. 

Another example where bankruptcy may help you is where the mortgage problem is resolved through 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, bankruptcy can help protect you.
Call 407-647-8833 or contact us here to make an appointment for a free consultation with an experienced Attorney.  We are experienced, aggressive and dedicated to protecting and helping you. 

CONTACT US TODAY AT 407-647-8833 FOR A FREE, NO OBLIGATION, CONSULTATION

BAKER LAW, P.L., 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, Melbourne, Titusville, Cape Canaveral, Daytona Beach and New Smyrna Beach, and the counties of Orange, Seminole, Lake, Polk, Brevard, Volusia and Osceola.