Hollywood is a beautiful beachfront community situated between Miami and Fort Lauderdale. Famous for the long Hollywood Beach Boardwalk and dotted with palm trees, the city truly is a paradise for residents. Unfortunately, as picturesque as the city is, things are not always perfect. Like much of Florida, foreclosures are quite common in Hollywood, causing some people to fear the loss of their homes. If you have received a foreclosure notice from your lender, it is important to remember that there are defenses available from qualified Florida foreclosure defense lawyers.
You Have Options When Facing Foreclosure in Hollywood, FL 
Your home is likely your most valuable asset. It may also be the place where you raise your family, entertain friends, and make good memories. It is natural to feel panicked upon hearing that your lender is going to foreclosure, but it is important to remain calm. You do have options, and they may include keeping your home. If you wish, you may choose to let the lender continue with the foreclosure process and eventually give up your rights to the property. This is actually a good option for some facing foreclosure, particularly if they cannot afford to continue making mortgage payments. However, if you want to keep your home and fight the foreclosure, this might be the right option for you. A Hollywood foreclosure defense lawyer can advise on the potential defenses available in your case and help you through the process to give you the best chance of a successful outcome.
Loan Modifications
One of the most common ways Hollywood homeowners avoid foreclosure is by negotiating a mortgage loan modification with the lender. During these negotiations, any part of your mortgage loan can be modified. The goal of loan modification negotiations is to create a new payment plan that is easier for you to repay. A foreclosure defense lawyer can negotiate a modification of any part of your mortgage, including:
- The interest rate
- Your monthly payment
- Elimination of late fees
- The original amount of the loan
- Extending the life of the loan, reducing monthly payments as a result
- Establishing a temporary pause on payments until you are able to resume making them again
Filing for Bankruptcy
Bankruptcy is another legal option that can help you keep your home. If you file Chapter 7 bankruptcy, you can discharge most or all of your unsecured debt. During Chapter 7, you may have to forfeit some property to the bankruptcy trustee, who will sell the assets and distribute the proceeds among creditors and other lenders. In many states, this includes the borrower’s home. Fortunately, the Florida foreclosure laws do not place a cap, or limit, on the amount of home equity you can protect. As such, if you have enough equity, you may be able to keep your home. Discharging your other debt can also make it easier to make your current and delinquent mortgage payments. Not everyone qualifies for Chapter 7 bankruptcy, and it is not always the right option for even those who do. A Chapter 13 bankruptcy can also help you keep your home through personalized debt settlement. During a Chapter 13 bankruptcy, your debt is not discharged but, instead, is restructured in a new repayment plan. This plan can make it easier for you to repay all of your debt, including your mortgage payments. Our Hollywood bankruptcy attorneys can help.
Procedural Due Process
When defending you during the foreclosure process, a lawyer will first review any document or other important material related to your case. Along with your original mortgage loan, a lawyer will also review any other important documents, witness statements, testimonials, receipts of payment, and more. All of this documentation is important when entering into negotiations with your lender. After reviewing the documents, a lawyer may then build a defense that involves:
- Withdrawing the home: If you obtained your mortgage within the last three years, or you have recently refinanced your home, you may be eligible for a loan withdrawal. After withdrawing the loan, you may also receive financial compensation for any interest or other fees you have paid.
- Missing documents: Under Florida law, lenders must submit certain documents when they file the foreclosure action. They must be able to show that they own the loan, usually through the mortgage note, and they must also include any documentation pertaining to mortgage payments that were made or missed. Sometimes this documentation shows an accounting or billing error that can stop a foreclosure. For example, the documentation may show that you made a payment but the lender credited it to the wrong account.
- Fraud: It is not unheard of for lenders to commit fraudulent acts against homeowners. They may include hidden fees, or frequently refinance a loan to no benefit of the homeowner, charge unfairly high interest rates, or target vulnerable sectors such as elderly individuals.
Why Work with a Nearby Foreclosure Defense Lawyer in Hollywood, FL?
You are not required to work with a Hollywood foreclosure defense lawyer when trying to keep your home. However, an attorney will help you prepare for the process and will know the potential defenses available. Many people ask “What does a foreclosure defense lawyer do?” Below we explain it in a helpful video talking about everything a foreclosure attorney will do for you to ensure you get the best possible outcome. A lawyer will also represent you if your case goes to trial. If your case makes it to that point, your lender will argue their case to a judge who will then make the final decision. A trial is an intimidating and overwhelming experience, particularly for those who have never been involved in one. Our South Florida foreclosure defense lawyers will build a strong defense in your case and make arguments to the court pertaining to why you should keep your home.
What Our Clients Have To Say About Our Foreclosure Defense Attorneys Near You
Read this 5-star Google review below regarding a Foreclosure case “My father was put in a very difficult situation when he found out that the house was going to be foreclosed, so I immediately started looking for the best attorney’s for Foreclosures. All my searches showed me Loan Lawyers and all the information I read was from Loan Lawyers, so I decided to search who Loan Lawyers were. To my surprise they were exactly what we needed. With the proper guidance of Jessica Krassner and her team Nicole Mason and Norma Pabon, we were able to find out how to resolve the situation and what was needed to be able to resolve it.”
By: Terry Castillo Rating: 5/5 ⭐⭐⭐⭐⭐ January 3, 2022 Read more reviews on Google!
We Help Stop Foreclosure in These Areas
Call Our Foreclosure Defense Lawyer in Florida for a Free Case Review
If you have received notice that your lender is starting foreclosure proceedings, you need sound legal advice. At Loan Lawyers, our foreclosure defense lawyers have extensive experience representing borrowers and helping them stay in their homes. We will put that experience to work for you in the courtroom or when negotiating with your lender. Call us now at (954) 523-4357 or reach out to us online to schedule a free consultation and to obtain the sound legal advice you need.
