HOW TO SETTLE A LINE OF CREDIT SECOND MORTGAGE (HELOC)

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SOUTH FLORIDA MORTGAGE AND DEBT SETTLEMENT LAWYERS

HOW TO SETTLE A LINE OF CREDIT SECOND MORTGAGE (HELOC)MORTGAGE DEBT SETTLEMENT IN FLORIDA

A recent news article predicts a steep increase in line of credits and HELOC foreclosures this year based on the number of borrowers that took out lines of credits or second mortgages (HELOC) on their houses when property values increased over the last two years.  After Hurricane Irma and with stagnant property values in the past months, some borrowers were forced to default on their lines of credits.

If you are one of the many homeowners who have lines of credit or HELOC’s on their homes, in a second position after their first mortgage,  you may now be in a position to settle the debt.  With so many properties still under water, that is, the mortgage balance owed on the first mortgage is greater then the value of the property, many lenders who hold lines of credits are more than willing to settle the amounts owed on the mortgage with the borrowers.

In order to have a successful negotiation and settlement wherein the result is the complete forgiveness of the debt owed on the line of credit, it is crucial to following certain steps in order to have the mortgage lender agree to accept a short payoff.

After years of  negotiating these line of credit mortgages for our clients, we are well versed in first obtaining a CMA or Comparative Market Analysis, crafting a correct hardship letter and sending the lender the documents they required.

This settlement is not a loan modification nor does it require the production of mountains and mountains of financial documents to the lender.

There is no required Request for Mortgage Assistance (RMA) nor loan modification applications required either.

Rather, we start with a demand and proposal letter and provide the documents we know the lender will request.  And from there, the negotiation often is resolved within 30 days.  Our extensive experience working with mortgage lenders  and borrowers places us in a position to extensively negotiate for you. So that you end up paying only a small portion of the debt.

Allow us to go to work for you and negotiate your Home Equity Line of Credit debt.

We offer free phone consultations, and a no cost review of your case. 

Call us today.   305.669.5280 and see how we can help you.

About the Author:

Jacqueline A. Salcines, Esq is the Owner and Managing Partner of the Law Offices of Jacqueline A. Salcines, P.A. Real Estate and Business Law Group. With over 18 years experience including holding a dual degree in Accounting, her broad knowledge of DEBT SETTLEMENT serves to aggressively protect and defend our firm’s clients.

Call us today to set up a  free consultation to discuss your specific needs. We are here for you!

Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280

Email:  J.Salcines@Salcineslaw.com

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SHORT SALES ON THE RISE IN SOUTH FLORIDA

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SOUTH FLORIDA SHORT SALE ATTORNEYS

REAL ESTATE LAW

Short Sales, where the mortgage company agrees to accept a “short” payoff of their mortgage (less to pay off the mortgage then what is owed) are experiencing a comeback.  Perhaps it is the fact that second lenders are filing foreclosure actions at higher speeds, or the statute of limitations is running on mortgages, whatever the cause, short sales are slowly increasing.

In a short sale, the homeowner lists the property for sale at a price lower then what is owed to the mortgage company.  The balance to the mortgage company is then negotiated so that the lender accepts the sales price, pays the borrowers closing costs and the borrower’s mortgage debt or balance is forgiven.

A true short sale, done accurately and proficiently will erase the mortgage balance AND the lender will agree to waive or never collect the balance of the mortgage. This is true whether Property values and real estate sales in South Florida and across almost all parts of the country  are thriving.  However, for a select few, short sales still linger.  Many lines of credits with ten-year and 5-year maturity dates are beginning to mature, causing homeowner mortgage payments to rise significantly, wherein the borrower/homeowner can no longer afford their mortgage payments.

Even if home values remain on the increase, if a homeowner can no longer afford their payment, they may try to short sale or modify their loan to see if they can save the home or exit gracefully.

At the Law Offices of Jacqueline A. Salcines, P.A., our lead attorney brings extensive knowledge and expertise in the field of negotiating short sales and loan modifications.  We have an in-house short sale and loss mitigation department headed by managers with extensive experience. Jacqueline Salcines, Esq.is also an attorney, title agent and accountant, able to handle the full transaction without having to contract any outside services, saving the borrower money.    We are here to help iron out issues and move the transaction from imminent default to resolution.

With prompt intervention to resolve disputes amicably, without the need to litigate,  we are here to get borrowers the results they desire. Call us today to see what we can do for you.

For more than 18 years, Jacqueline Salcines has been practicing law with the need of her clients first.  Upon calling the firm you get the feel of how the client is our first priority.  We are here to help you with your purchase or sale and do so with hands-on legal experience.

Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280
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LANDLORD TENANT – TENANT TERMINATION LETTERS

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SOUTH FLORIDA LANDLORD TENANT LAWYERS

TENANT TERMINATION LETTER

Allowing a tenant to remain in a property after the natural expiration of the lease term, often results in the Residential Lease converting into a  month to month residential lease.  Not all leases have a termination clause that requires either party to terminate in writing or to extend.  Rather, the leases are silent or state that if the tenant remains after the last day of the lease, it becomes a month to month lease, with a termination at will (that is, at the discretion and election of either the tenant or the landlord).

The issue arises, however, when the tenant stays on another month or two to live out the security deposit.  This is not only illegal, but  places the landlord in a predicament if there are any damages to the property.  Cases like this almost always end up in litigation, in a landlord tenant eviction, for non payment.  Tenant thinks they have a month to live, landlord wants them out as soon as possible with protection for damages.

Landlord Tenant Statutes in Florida, Chapter §83, requires that if a tenant remains in possession after the natural expiration of the residential lease, the Landlord must send a Termination of Tenancy Letter.  That letter requires certain time frames for removal. For example, a month to month tenant, must be given 15 days to move out.  If they do not move out after the 15th day, that does not mean the landlord can go in and remove them and the tenant’s possessions. Rather, that gives the Landlord permission to now file an eviction suit.

Any tenant that stays on past the termination of tenancy 15 days, is considered a “holdover” tenant and is liable for double rent to the landlord.  While this may appear to protect the landlord, often tenants are judgment proof and collecting the monies after they are gone is almost impossible.

The termination of tenancy letter to the tenant must contain certain language as required per statute.

At the Law Offices of Jacqueline A. Salcines, P.A., we have been assisting Landlords and tenants with landlord tenant actions for over 18 years.  Before you decide to write the letter yourself, contact us.  We will get it right the first time and process your case in the most efficient manner possible.

We are here to help and protect your rights. Allow us to go to work for you! We offer free phone consultations, and a no cost review of your case. 

Call us today.   305.669.5280 and see how we can help you.

About the Author:

Jacqueline A. Salcines, Esq is the Owner and Managing Partner of the Law Offices of Jacqueline A. Salcines, P.A. Real Estate and Business Law Group. With over 18 years experience including holding a dual degree in Accounting, her broad knowledge of LANDLORD TENANT LAW including giving numerous pro bono seminars for Legal Aid and Put Something Back project,  attorney Salcines serves to aggressively protect and defend our firm’s clients.

Call us today to set up a  free consultation to discuss your specific needs. We are here for you!

Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines, Esq.

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280

Email:  J.Salcines@Salcineslaw.com

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NEW LINE OF DEFENSE FOR DYCK O’NEAL LAWSUITS

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SOUTH FLORIDA DEBT SETTLEMENT LAWYERS

DYCK O’NEAL LAWSUITS FOR FORECLOSURE MORTGAGE DEFICIENCY BALANCES

DEBT SETTLEMENT ATTORNEYS

Dyck O’Neal continues on the prowl for South Florida debtors.  Not only is a privately owned debt collection company filing foreclosure and short deficiency lawsuits in Florida, but now they are actively transferring judgments from out of state foreclosures, to Florida.  Dyck O’Neal,  a company who was  approached by Fannie Mae years ago, bought up thousands of stale foreclosure judgments in Florida and across the country,  and filed suits at the 11th hour, when the statute of limitations was about to run out.

But debtors should know that even if you receive collection letters from Dyck O’Neal or are sued for the balances on debt they purchased, these suits can be defended and can be won.  Numerous defenses exist including the statute of limitations as well as practices under the Fair Debt Collections Act. If unlawful, some of these suits or collections can be extinguished all together.  If valid, they can be settled for pennies on the dollar.   But you must act timely. If you are served with a lawsuit by Dyck O’Neal,  you will have twenty (20) days to respond.  That means, 20 days to hire a lawyer to review your complaint and file a Motion representing you.

That’s where the Law Offices of Jacqueline Salcines, PA comes in. We have fought these Dyck O’Neal suits and settled them for pennies on the dollar. Often, the homeowner is protected under the Foreclosure Act, and Dyck O’Neal must walk away. Other times, they settle for pennies on the dollar.

It helps to have an attorney who is familiar with Dyck O’Neal suits, and how to litigate and fight them.  At the Law Offices of Jacqueline A. Salcines, P.A., we have been assisting borrowers with their deficiency lawsuits and their debt settlement for over 17 years.   You have the right to settle your debt for potions of what you owe.  We are here to help and protect your rights.

Allow us to go to work for you and negotiate your debt.

We offer free phone consultations, and a no cost review of your case. 

Call us today.   305.669.5280 and see how we can help you.

About the Author:

Jacqueline A. Salcines, Esq is the Owner and Managing Partner of the Law Offices of Jacqueline A. Salcines, P.A. Real Estate and Business Law Group. With over 17 years experience including holding a dual degree in Accounting, her broad knowledge of DEBT SETTLEMENT serves to aggressively protect and defend our firm’s clients.

Call us today to set up a  free consultation to discuss your specific needs. We are here for you!

Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280

Email:  J.Salcines@Salcineslaw.com

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