Miami Foreclosure Lawyer
Dealing with the risk of foreclosure can be a stressful experience. After falling behind on mortgage payments, you could lose the property that you worked so hard for. A Miami foreclosure lawyer could ensure that you understand your rights and offer valuable support as you navigate the complexities of real estate law to protect your property. A real estate attorney at Jacqueline A. Salcines, P.A could help you explore several legal options like refinancing, negotiating with the lender, a short payoff of the mortgage balance, deferring a portion of the past due amounts on the back of the mortgage or even forgiveness of the loan.
Understanding Property Owner Rights During Foreclosure
When property owners fall behind on their mortgage payments, they may find themselves facing foreclosure proceedings, which could result in the lender taking possession of their home. However, under state law, property owners have certain rights leading up to and during this process, including:
- Notice of the pending foreclosure
- Receiving a breach letter or default notice outlining the problem
- Reinstatement or the option to pay off the loan to avoid foreclosure
- The option to catch up on missed payments to avoid foreclosure
- Contact regarding loss mitigation efforts to help minimize the financial impact of foreclosure
- The right to receive any remaining funds after a foreclosure sale, once the mortgage has been paid
A foreclosure attorney in Miami could advocate on your behalf and ensure that your rights are protected throughout the process.
Legal Options for Property Owners Facing Foreclosure
In addition to protecting the rights of a property owner in Miami, a foreclosure attorney could guide them on what next steps to take. A person’s legal options may include:
- Paying off the loan, often through refinancing
- Refinancing the property, usually with a new lender
- Negotiating with the lender to lower payments or allow the owner to catch up on missed payments
- Filing for bankruptcy, which can temporarily pause all debt collection efforts, including foreclosure
- Selling the property through a short sale, allowing the owner to avoid foreclosure, even if it means selling for less than what it is worth
A lawyer may first contact the lender to see what options a person has available. They could then work with an individual to choose the best option for their needs. It is crucial to work with trusted legal representation who could advocate for your best interests, especially if you are dealing with a lender trying to rush the foreclosure process.
When To Consult a Lawyer
Miami residents should reach out to a lawyer once they receive a collection notice, an acceleration notice, or a notice of pending foreclosure from their lender. An attorney could safeguard an owner’s rights and ensure that all legal procedures are followed. Furthermore, when someone cannot get current on their mortgage because of their financial situation, seasoned legal counsel could negotiate with the lender to increase the chances of keeping their property.
They could explain all the available legal options and help a person choose the right one for their needs, helping them work toward their preferred resolution.
Contact a Miami Foreclosure Attorney Today
If you have received a notice of foreclosure from your lender, speak with a Miami foreclosure lawyer as soon as possible. Real estate law is complex and requires a thorough understanding of the legal process. Our legal team could assist you in preventing foreclosure and help you explore options to protect your property and financial future. Reach out to Jacqueline A. Salcines, P.A today to discuss your case.