When business owners fall behind on their mortgage payments they run the risk of potentially losing their buildings or commercial properties. Loan Lawyers has extensive experience in helping commercial property owners and developers with foreclosure-related matters. Our recipe for success is based on our extensive litigation and trial experience. As a battle proven litigation and trial law firm we have litigated over 2,000 residential and commercial foreclosure cases and have gone to trial more than 200 times. Our reputation for success in the courtroom and at trial puts us in a unique position to maximize leverage and negotiating power for our commercial clients achieving the best possible results for your case, whether that be at trial, negotiations, or through a loan workout.
Our unique litigation model entails a rigorous process of searching for lender negligence, fraud and overreaching at inception, throughout the loan history, and within the default and foreclosure process. Commercial loan originators and servicers frequently breach covenants of good faith and fair dealing and engage in deceptive practices that violate State and Federal commercial lending and loan servicing statutes and regulations. By not only aggressively defending our clients but by going on the offensive and often filing counterclaims or suing banks or commercial lenders we can achieve results for our clients where other law firms fall short. Loan Lawyers has successfully defended and prevailed in commercial foreclosure cases utilizing some of the following defenses:
- Breach of express and implied covenants of good faith and fair dealing
- Unfair and deceptive trade practices
- Equitable estoppel
- Unclean Hands
- Failure to comply with notice provisions
- Violations of Florida and Federal lending and servicing statutes
- Breach of contract
- Standing
- Waiver
- Reliance upon loan officer’s oral modifications
- Failure to mitigate damages
State and Federal Laws Supporting These Legal Defenses
These defense strategies are backed up by multiple statutes and legal precedents.
For example, the implied covenant of good faith and fair dealing is contained in “virtually every contract”, according to the Florida Supreme Court’s ruling of County of Brevard v. Miorelli Engineering, Inc.
Additionally, the Florida Deceptive and Unfair Trade Practices Act (FDUTPA) offers protection from unethical methods of competition as well as unreasonable practices or acts during trade or commerce.
Equitable estoppel is also supported by legal precedents. State v. Harris, Thomas v. Dickinson, and Lloyds Underwriters at London v. Keystone Equipment Finance Corp establish the criteria necessary to employ this defense.
When it comes to breach of contract, Florida state law defines the specifics under Chapter 672.
FAQ About Commercial Foreclosure Defense
What is the foreclosure process for commercial property in Florida?
Please visit our page about the Florida commercial foreclosure process, which explains everything you need to know step-by-step.
How can I stop a commercial foreclosure from happening?
There are a few ways you can stop a commercial foreclosure in Florida.
The simplest way is to pay off the remaining mortgage debt. If that is not an option, you could consider filing bankruptcy to put a stop to foreclosure proceedings.
Additionally, you may be able to modify the loan, seek a favorable resolution through mediation, challenge the lender’s legal standing, or prove that the bank violated the court order by foreclosing upon the property.
How does mediation work in commercial foreclosures?
For commercial properties in foreclosure, mediation typically occurs after an application for loan modification is denied. An impartial facilitator will oversee the mediation, which seeks to both satisfy the lender and avoid negative consequences for the borrower. The process is confidential, and it allows the lender and borrower to communicate and hopefully come to an agreeable resolution. If mediation is unsuccessful, the parties may proceed to litigation.
When should I contact an attorney?
It is in your best interest to contact an attorney as soon as possible. Even if you do not require an attorney’s services, you can get answers about the best options for your situation during a free consultation.
Contact our Commercial Foreclosure Defense Lawyer in Florida for a Free Consultation
If you are at risk of defaulting on your commercial loan, have defaulted already, or have received a notice of foreclosure contact Loan Lawyers today to set up a free consultation with one of our qualified foreclosure attorneys to find out more about how we can help you. 1 888 344-4813.
