FANNIE MAE AND FREDDIE MAC MORTGAGE LOAN ASSISTANCE

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MIAMI DADE LOAN MODIFICATION AND FORECLOSURE ATTORNEYS

While the  Making Homes Affordable Program may have expired (the last date for submission was December 30, 2016 and has not been extended by the Trump or Obama Administration) programs still exists if your loan is owned by Fannie Mae, Freddie Mac, Veteran Affairs or the USDA.  Programs include interest rate reductions and often principal forgiveness.

These lenders continue to be understandable and are allowing homeowners to remodify their mortgage and loans under these programs that continue to exist into 2017. Many borrowers under the HAMP program had adjustable rates which increase after the 5th year.  That would put anyone that modified their loan in 2009 or 2010 into a higher interest rate.  A mortgage default however doesn’t mean you have to lose your home. A Miami Dade Loan Modification attorney at our firm can help.  However, with a deadline of December 30, 2016 to submit, the Making Homes Affordable Program may no longer be available but others are.

There are strict eligibility requirements under these programs,  and it may be necessary to make sure you qualify before submitting a modification request, we are here to help.  At the Law Offices of Jacqueline A. Salcines, PA, we are Miami Dade Loan Modification attorneys and keenly aware of the requirements and are able to sit with the borrowers, review their financials data, and provide solutions for their homeownership mortgage problems.  Allow my team of attorneys and accountants to go to work for you so you do not fall victim and lose your home.

At the Law Offices of Jacqueline A. Salcines, P.A., our lead real estate attorney brings over 17 years experience in the foreclosure, mortgage and real estate field as well as 22 in the accounting field. Ms. Salcines has been helping homeowners in foreclosure for over 10 years and is available by email to answer all your questions and concerns, without ever charging a consultation fee.

Call us today to set up an appointment to discuss your purchase or sale. 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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HAMP LOAN MODIFICATION AFTER DEADLINE OF DECEMBER 30, 2016

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MIAMI DADE LOAN MODIFICATION AND FORECLOSURE ATTORNEYS

Now that the deadline to submit a Home Loan Modification request under the Making Homes Affordable Program has expired (the last date for submission was December 30, 2016 and has not been extended by the Trump or Obama Administration) what will happen with all the borrowers who are again struggling to pay their mortgages?  While the program has not been keyed for renewal, like the HARP program that was extended, borrowers face a myriad of questions and concerns as to what will happen with their underwater properties.  Loan Modifications continue to prevail with other plans that are available.  Fannie Mae, Freddie Mac, FHA Federal Housing Authority and even the USDA have programs that continue to exist to help underwater home loan borrowers with their default and delinquent mortgages.

Lenders continue to be understandable and are allowing homeowners to remodify their mortgage and loans under these programs that continue to exist into 2017.

Many borrowers under the HAMP program had adjustable rates which increase after the 5th year.  That would put anyone that modified their loan in 2009 or 2010 into a higher interest rate.  A mortgage default however doesn’t mean you have to lose your home. A Miami Dade Loan Modification attorney at our firm can help.

There is Hope and Help for these borrowers.  While there are strict eligibility requirements under these programs,  and it may be necessary to make sure you qualify before submitting a modification request, we are here to help..

At the Law Offices of Jacqueline A. Salcines, PA, we are Miami Dade Loan Modification attorneys and keenly aware of the requirements and are able to sit with the borrowers, review their financials data, and provide solutions for their homeownership mortgage problems.  Allow my team of attorneys and accountants to go to work for you so you do not fall victim and lose your home.

At the Law Offices of Jacqueline A. Salcines, P.A., our lead real estate attorney brings over 17 years experience in the foreclosure, mortgage and real estate field as well as 22 in the accounting field. Ms. Salcines has been helping homeowners in foreclosure for over 10 years and is available by email to answer all your questions and concerns, without ever charging a consultation fee.

Call us today to set up an appointment to discuss your purchase or sale. 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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ARE YOU BEING SUED BY DYCK O’NEAL?

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SOUTH FLORIDA DEBT SETTLEMENT ATTORNEYS

PROTECTING YOUR INTERESTS WITH DYCK O’NEAL

Unlike many states, in Florida if you are sued for a deficiency balance (the difference between what your home sold for in foreclosure auction versus what the final judgment amount stated you owed) borrowers and homeowners have rights.  On July 1, 2013, the Florida legislature passed the Fair Foreclosure Act which limited the time period for which the judgment creditor could sue from 5 years to 1 year.

For judgments entered prior to the enactment of the new law, the deadline for filing a deficiency suit was July 1, 2014.

If you are receiving letters or calls from Dyck O’Neal trying to get you to pay on this so called debt, you have rights. At the Law Offices of Jacqueline A. Salcines, PA, we are here to defend and protect your rights!

At the Law Offices of Jacqueline A. Salcines, P.A., our lead attorney brings extensive knowledge and expertise with these deficiency collection matters and lawsuits, particularly with Dyck O’Neal, as well as in the field of negotiating and settling debt for pennies on the dollar.   We employ market knowledge, extensive litigation experience,  contract and statutory knowledge, and take proactive and calculated measures to protect our clients. Our knowhow in debt settlement and oral and written contracts as well as negotiating them when they don’t go as planned, is what sets us apart.

With prompt intervention to resolve disputes amicably, without the need to litigate,  we are here to get debt settled, without the necessity of filing for bankruptcy.

With more than 16 years experience,  attorney 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.

Jacqueline Salcines, Esq. has been an accountant for over 20 years and an attorney for over 15  years.  She brings her knowledge and experience to every real estate transaction.  Let us go to work 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

DIRECT EMAIL: J.SALCINES@SALCINESLAW.COM

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GOVERNMENT EXTENDS THE HAMP PROGRAM TO 2016

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Loan Modification Green Road Sign with dramatic clouds and sky. The Government has announced that the Home Affordable Refinance Program (HARP) and the Home Affordable Modification Program (HAMP) will be extended until the end of 2016.

HAMP provides modifications for homeowners that are  facing hardships and can no longer afford their mortgages.

In order to qualify for a loan modification under HAMP, the guidelines are strict and  require a homeowner to have income (although disability and unemployment qualify).  Once qualified, HAMP is a loan modification program that can lower interest rate to 2%, and significantly  lower homeowners  monthly mortgage payments.

At the law firm of Jacqueline Salcines, PA we handle homeowner qualification for HAMP since the program was initiated in 2009.   We are keenly aware and have programs to qualify borrowers, while they continue to face the challenges of paying their mortgage or refinancing their loans.

Our HAMP experience has been obtained by working closely with lenders and  borrowers, in both the mortgage and real estate arena, to represent them in litigation involving foreclosures and loss mitigation options.

South Florida Loan Modification and Foreclosure Lawyers

Many homeowners do not know they have options when their properties are underwater.  Since 2009,  HAMP has been successful at providing relies for hundreds of thousands of homeowners and frankly is the best program to qualify for.  The fact that the government has elected to extend HAMP for Homeowners is wonderful news.

The most important thing a homeowner can do is hire an attorney to qualify them prior to submitting any loan modification application. By qualifying you up front, a HAMP modification becomes streamlined and often approved quickly.

If you need assistance to see if you qualify, call us today.

 Or email attorney Jacqueline Salcines directly  at 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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REVERSE MORTGAGE SETTLEMENTS

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Home floating on a life preserver.A reverse mortgage is a mortgage taken by an elder homeowner, wherein the lender gives a mortgage on the property, often with a cash out to the owner.  The terms of the reverse mortgage call for no payments while the homeowner resides on the home, except for taxes and insurance, rather the principal and interest get added to the balance every month.  This frees up social security or other income of the debtor/homeowner to use during their lifetime. The catch is that upon the owner/borrowers death, the bank can take the home, sell it and satisfy the debt.  In old times, the heirs were permitted to go out to another lender and seek a refinance in order to  pay the reverse mortgage lender and satisfy the debt. However, in the crash of the real estate and mortgage industry, often the property value at the time of the death, were well below what was owed to the reverse mortgage lender, causing the refinance to become an impossibility.

After 2009, reverse mortgage lenders began loosening the rules and allowed settlements of their reverse mortgages with heirs, because they were aware of the inflated prices and impossibility of refinancing.  Heirs were then permitted to request an appraisal and the reverse mortgage lender will often agree to take between 95% to 98% of the fair market value, forgiving the balance of the deficiency or remainder.

Recent FHA policy  helps the heirs even further.   A new policy by the FHA on Thursday under the Home Equity Conversion Mortgage Program calls for delays for lenders seeking to foreclose on homes where the reverse mortgage borrower has become deceased. The new law allows the lender to assign the loan to HUD and thus HUD would then work with the non-borrowing spouse to remain in the house.

The new policy is great news for heirs of borrowers on reverse mortgages as it opens the door for them to remain in the home and work out a loss mitigation option with the lender.  Such options can include an assumption or a modification in terms of the mortgage, or a settlement.

At The Law Offices of Jacqueline A. Salcines, P.A. our extensive accounting and legal background has given us an opportunity to negotiate these reverse mortgage favorably for our clients, so that they can keep the home that means so much to them and their loved ones.

Call me today to discuss your situation and see if the new FHA policy will protect you. The first consultation is free of charge.

TRUST |   COMMITMENT  |  RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

mini-logo JACQUELINE A. SALCINES, P.A.
706 S. DIXIE HIGHWAY 2ND FLOOR
CORAL GABLES, FL 33146
TEL: 305 669 5280
EMAIL: J.SALCINES@SALCINESLAW.COM
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Foreclosure Defense for Struggling Homeowners

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BankruptcyHard to believe that with the double digit increase in real estate values in Florida, many homeowners still find themselves underwater with their mortgages, but this is a fact.  Victims of overextended credit limits, overinflated home appraisals during the mortgage crisis, and rising taxes and forceplaced insurance, has caused many homeowners to simply not be able to come out from below the water.  In fact, many that entered into loan modifications during 2009 and 2014, may be about to default again on their loan modifications due to the increase in interest rates scheduled for the fifth year under the Making Home Affordable Program, or an increase in the required monthly escrow.

While foreclosures in Miami and Broward are at the lowest levels we have seen for years, we are experiencing a new wave of foreclosures from the above borrowers, that tried to make ends meet and meet their financial obligations but with rising taxes and insurance, or a loss of a job, or loved one, can no longer sustain their mortgage payments.  This leads to a brand new filing of a foreclosure against these homeowners, and often forgiven debt under the Making Home Affordable Plan is recalculated into the mortgage balance, sending some to be underwater again.

At the Law Offices of Jacqueline A. Salcines, P.A. our dedicated team of foreclosure defense attorney and consumers rights advocates fight shoulder to shoulder with these lenders to protect our clients rights and properties.  The aim is to stop foreclosure and the abuses of the mortgage industry by holding lenders accountable for their actions.  We practice:

  • Foreclosure Defense
  • Commercial and Residential Foreclosure
  • First and Second Mortgage loan settlement and forgiveness
  • Loan Settlement
  • Short Sales
  • Loan Modifications
  • Credit Card Debt and Settlement
  • Debt Collection Abuse
  • Unfair Collection Practices
  • HAMP and Internal Modifications

HELP FOR STRUGGLING HOMEOWNERS IN FLORIDA

Whether you find yourself in a current foreclosure, or whether your default of your mortgage is imminent and you wish to plan and strategize all options available before you default, one call can make the difference.

At the Law Offices of Jacqueline A. Salcines, P.A., attorney Jacqueline A. Salcines, has over 15 years experience in the mortgage and real estate law industry.  She is an accountant having practiced prior to becoming an attorney.  Having an exclusive and extensive background with accounting and business law, as well as mortgages, provides the cutting edge difference when settling the accounts with lenders.  “Knowing what a lender can and can not do makes all the difference in the standpoint of a negotiation”. Often lenders in foreclosures are bluffing that they have the note or that their assignments are valid and when pushed against the wall and taken to trial, cases get voluntary dismissals.  “This is what we hope for our clients.”

“At my firm, we do not practice delay tactics or the buying time technique that many attorneys do while charging their clients monthly. Rather, I personally sit with the client and explore their needs and desires, while running their financials to see what they qualify for.  Our foreclosure defense is foreclosure defense with a result in mind.  I will review the complaint, often audit the loan package to see what advantages we have to win at trial.  That is the strategy.  Not mere delay to then push a bankruptcy on the client.”  Says Jacqueline Salcines, Esq.

Call us today for a free foreclosure defense and strategizing session.  The first consult is always free of charge and can provide the know-how and options that perhaps many borrowers do not know are available to them.

The foreclosure crisis is on the rise again in South Florida.  However with the right team behind you, the foreclosure crisis can be averted.

TRUST  |   COMMITMENT  |  RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

LAW OFFICES OF JACQUELINE A. SALCINES, P.A.

706 S. DIXIE HIGHWAY

SECOND FLOOR

CORAL GABLES, FLORIDA 33146

TEL.  305. 669.5280

EMAIL:  J.SALCINES@SALCINESLAW.COM

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WHO IS ENTITLED TO THE SURPLUS AFTER A FORECLOSURE SALE?

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Law Offices of Jacqueline A. Salcines, P.A.

Law Offices of Jacqueline A. Salcines, P.A.

In a recent Third District Court of Appeal case, the higher court rules that a Miami-Dade couple was entitled to a $99,500.00 surplus that was left over after the foreclosure sale. The lower court, Judge Diane Ward, held that the bank was entitled to the surplus.  The homeowners had two mortgages, and the property was sold at auction on March 2013. The home was purchased at auction by a third party bidder who bid $184,000.00.  After paying off the mortgage, $99,500.00 remained.

The third party bidder then filed a Motion for Surplus Funds so that the surplus could be remitted to the first lender.  The homeowners also filed a Motion for the surplus.  Because the homeowners had filed for bankruptcy, the third party purchaser argued that they would be “unjustly enriched” a legal term that means that they are getting a benefit without paying anything for it.  The mortgage had been discharged in bankruptcy and a discharge of their debt obtained.  Judge Ward awarded the surplus of $99,500.00 to the third party purchaser.  The homeowners appealed.

The District Court of Appeals state in opinion that the law clearly showed that the property owner of record at the time of the sale is the one entitled to the surplus.    “Where the legislature has provided such a process, courts are not free to deviate from that process absent express authority.  (Quote from Judge Ed Scales on the Opinion ruling).

In order to claim the surplus, homeowners must file motions in a timely manner.  Thereafter, the motion must be heard by the presiding Judge in order to obtain an Order directing the clerk to issue the surplus.

At the Law Offices of Jacqueline A. Salcines, PA, we have extensive experience in seeking surplus funds for our clients.  We invite you to call and speak to attorney Jacqueline A. Salcines, Esq. today. The first consult is always free.

 

TRUST  |   COMMITMENT  |   RESULTS

 
LAW OFFICES OF JACQUELINE A. SALCINES
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL: (305)  669.5280
EMAIL: J.SALCINES@SALCINESLAW.COM
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CONSUMER FINANCIAL PROTECTION BUREAU GIVES HOMEOWNERS NEW RIGHTS AND GREATER PROTECTION

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Home floating on a life preserver.Beginning January 2014, new CFPB (Consumer Financial Protection Bureau) rules to protect homeowners and consumers shopping for home mortgages went into effect.  The rules sharply reduce the runarounds and stalling techniques frequented by the banks for both sort sales and loan modifications under the HAMP Making Home Affordable Program.

Virtually every mortgage now issued will be subject to these new rules. The rules set up a new type of mortgage referred to as a “Qualified Mortgage” which determine borrower eligibility to repay, prior to giving the loan.  It considers such factors as borrower income, assets, debt and credit history.

For borrowers seeking Loan Modifications, there are added protections as well.  Mortgage servicers will now have to call or contact the borrowers by the time they are 36 days late on their mortgage.  The borrower can not initiate a foreclosure until 120 days delinquent and by that time, should have already offered certain options to the delinquent borrower with regard to loss mitigation.

Mortgage servicers can also not start a foreclosure while they are working on a submitted application for modification.  This is an incredible win for homeowners in distress that are legitimately and diligently pursuing modifications due to financial hardships out of their control.

If the loan modification is denied, the lender must provide clear and concise information as to why it was denied, sent to the borrower explaining the reason for rejection.

Congress created the CFPB to make sure “financial markets work for the consumer”  For more information you can contract the CFPB at (855) 411-2372 or contact us at the Law Offices of Jacqueline A. Salcines, PA

We process loan modifications, short sales as well as loan settlements and other loss mitigation options for our clients. We know how to put the new rules and regulations to work for you so that you don’t lose your home due to the banks runarounds.

Call today. The first consult is always free of charge and can provide you with peace of mind.

 

TRUST  |  COMMITMENT  |  RESULTS

 

LAW OFFICES OF JACQUELINE SALCINES, P.A.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL:  305.669.5280
J.SALCINES@SALCINESLAW.COM
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OVER 6 MILLION BORROWERS REMAIN UNDERWATER DESPITE LOAN MODIFICATIONS

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Home floating on a life preserver.Yesterday we had the honor of calling up yet another client to advise of his loan modification approval and a more than $200,000 principal reduction on his loan.  This put his new mortgage principal at almost fair market value for his home, and a 2 percent interest rate.  His monthly mortgage payment was reduced by more than $1500.00.    And, we did it in less than 90 days!  Happy client. Happy firm.

The good news is that the bank are truly modifying mortgage balance principal and moving the HAMP modifications along in record time.  We have found 90 days to be the average time.  Yet, for all those that get modified, there are still millions trying.

If you modification is not going through, then you need to see who is processing it.  Has a bank negotiator been assigned to your case?  Is there a Specialist at the bank assisting you and confirming receipt of all financial documents?  If not, then this is the first step that needs to be taken so that you are dealing with one person for 90 days.

Corelogic reports today that nearly 6.4 million homeowners are still underwater in their loans in the United States.  This means that they owe more to the mortgage lender than their house is worth.  Florida is in second place behind Nevada.

The key to a successful modification is to make sure that it is handled by a professional that knows what they are doing, that you are qualified beforehand and that you follow up weekly. These are the three most important steps to take to ensure that your modification is approved.

Call us today to schedule a free consultation to see if you qualify for HAMP or any other loan modification program that may get you a principal reduction and interest rate reduction.

TRUST  |   COMMITMENT  |  RESULTS

 
Law Offices of Jacqueline A. Salcines, PA
706 S. Dixie Highway
Second Floor
Coral Gables, Fl 33146
Tel: 305.669.5280
J.Salcines@Salcineslaw.com

 

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THE NEW STREAMLINED SHORT SALE – HUD ANNOUNCES NEW SHORT SALE REQUIREMENTS

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short-sale-contractEffective October 1, 2013, HUD announced new and favorable changes to their FHA short sale requirements for homeowners seeking to short sale their homes.

This new Streamlined Short Sale, may no longer require the borrowers seeking a short sale to submit financial information or prove a financial hardship.

The following properties will be eligible:

  • Principal Residence
  • Second homes
  • Investment Properties
  • Military Service Members

The transaction must be an Arm’s Length Transaction wherein all the parties to the transaction, including buyer, seller and realtor, are required to sign an Arm’s Length Affidavit providing under penalties of perjury that they are not related as follows:

  1. Seller can not list the property with or sell to anyone with whom they have a close business relationship;
  2. The seller and buyer can not be related either by family, blood or business.

Any violation of this is considered a federal offense and violation of federal law.

Before closing, any and all liens and judgments against the seller must be released.  And this we are seeing ever so often wherein the short sale lender quickly and without thought, stops a short sale because the borrower has “judgments” or liens against them.  A name examination by a title agent as myself can decipher whether the liens or judgments do in fact belong to the homeowner. “Often times, it is a common name and by merely having the borrower seller sign a Non-Identify Affidavit, and submit it to the lender, that will not halt the short sale  negotiation and process. ” Jacqueline A. Salcines, Esq.

Servicers must now use a Deficit Income Test or (DIT) to determine the borrower’s financial hardship.

If qualified for a streamlined short sale, the borrower may not have to produce any financial documents or prove a financial hardship.

The appraisal or BPO is also done within 10 days and prepared for review quickly so that this too does not stall the process or approval

While the borrowers may be asked to make a cash contribution at closing, often times if the property is not the homestead of the borrower, cash Incentives to homeowners by lenders are being given.

Lastly, the FHA short sale addendum, where all parties agree that the property is an arms length transaction and there are no hidden terms or conditions in the short sale, must be signed and dated by all the parties at closing or when instructed by the lender.

If the borrower qualifies, cash incentives are offered by participating lenders including:

  • Bank of America
  • Chase
  • Ocwen
  • Wells Fargo

For negotiators of short sales, this means short waiting times, short document collection and quick approval times.

For the homeowner, this is great news in that the short sales will be approved quicker and the incentives may be given.

At the Law Offices of Jacqueline A. Salcines, PA we can qualify you, free of charge for the streamlined short sale.

We work with many investors to find qualified buyers for your home and get the short sale approved at the best price possible.

Call us today for a free consultation.  Our reviews speak for themselves.

TRUST  |   COMMITMENT  | RESULTS

LAW OFFICES OF JACQUELINE A. SALCINES, P.A.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL>  305 | 669 | 5280
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