Our Miami foreclosure defense lawyers fight each day for the rights of homeowners who have been ignored, pushed aside, frustrated, mistreated or victimized by their bank or mortgage company.
Whether it’s stopping foreclosure in Miami or determining whether strategic default is right for you, banks make matters worse by putting profits before people and by too often acting unethically, if not downright illegally.
As we reported recently on our Miami Foreclosure Lawyer Blog, the Huffington Post recently followed 48 homeowners for a year as they dealt with the agony and made their decisions. Often it was the toughest decision of their lives. As many Miami homeowners deal with the same issues, we urge you to consult an attorney.
These are their stories:
-A 47-year-old homeowner with a struggle mechanics business. Drained his savings staying current on his mortgage. Truck was repossessed when he went to the local vet to have his dog put to sleep. He bought a trailer for his family to live in, unaware he could have remained in his house rent free during foreclosure. He was afraid the bank would move as fast as the company that repossessed his truck.
-A California homeowner felt morally obligated to stay in the $325,000 house, despite seeing a house in the neighborhood on the market for $90,000. After a year spent seeking a modification from their bank, they were informally told by a bank employee to stop paying in order to get the bank to come to the table. The bank then suggested they apply for modification! They did … and were denied.
-Chicago condo owner was rejected for a short sale after losing his job. Also rejected by the Obama Administration’s home loan modification program. He filed for bankruptcy and lived in the unit rent free while paying only the condo association fees.
-A divorcing California resident had a $440,000 residence that dropped to $250,000 in value. Despite having worked as a loan assistant, she found the system impossible to navigate. Now in a $1,500 apartment she has plenty of grocery money and spending money for the little pleasures in life. Her advice to homeowners is to never fear just walking away.
-A 45-year-old Michigan man was struggling with an underwater mortgage but could not get the bank to approve a short sale and was afraid to walk away for fear of ruining his credit score. So far, he has remained in the home.
-A 43-year-old software salesperson from Miami. His $285,000 house was worth $450,000 at the top of the market and is now worth just $150,000. They were able to reduce their payment by $500 a month by refinancing to a 4 percent mortgage.
In some of these cases, homeowners didn’t understand their rights — or that they could remain in their home during the lengthy foreclosure process. In others, knowledge was empowering — not paying your homeowner’s dues can lead to a much faster foreclosure action. In each case, an experienced foreclosure attorney can fight for the rights of homeowners, force banks to treat your fairly, and greatly reduce the stress associated with dealing with a foreclosure, short sale or strategic default.
Negotiate from Strength!
If you need help with foreclosure issues in Miami or the surrounding areas, including short sales, deficiency judgments, strategic defaults or other help for Miami homeowners, contact Jacobs Legal for a confidential appointment to discuss your rights. Call (305) 358-7991.