With the ever changing real estate market, more real estate attorneys in Florida are receiving calls from homeowners who face critical challenges, trying to avoid foreclosure at all costs. With Florida foreclosure rates continuing to rise, homeowners are challenged with finding real estate attorneys in florida that have time to represent them efficiently. In fact, many real estate attorneys are turning to outside loss mitigation companies to help their clients explore their options further with work-out plans that may be available through the homewowner’s mortgage lender. Many real estate attorneys are aware of the options a pre-foreclosure victim may have such as short sales and loan modification, but don’t have the time to deal with such specifics, including processing documentation, negotiations, analysis and more that are required by lenders during these types of transactions that allow the homeowner a fighting chance to save or sell their home. Lenders are administratively frazzled as more individuals try to establish such means of helping stop foreclosure by themselves, unfamiliar with specific requirements and communication that should be handled by a professional company that specializes in the process. Some of the best real estate attorneys in Florida are joining companies like Stop Foreclosure Now, a California based company that serves all 50 states. The company helps attorneys to collaborate with a network of realtors, buyers, loss mitigation consultants, and more while professionally handling the negotiations and processing for all involved. Short sale approval is when a lender approves a pay-off at less than what the mortgage pay-off was before negotiations. For those facing foreclosure, and the listing agents who may have listed the property prior in hopes that it would sell, a short sale could indeed allow the homeowner a fresh start, as a good mitigation can result in a “paid” or “settled” deficiency, saving their credit at the same time. Short Sales take some understanding, but most importantly should be explored. Those involved in helping any homeowner during difficult times may have a responsibility to understand their situations and help them avoid further hardship, default, or foreclosure auctions if they are licensed as a professional. Continuing to educate these homeowners of their rights, such as short sales, loan modifications, forbearance, and deed in-leiu, may be deemed more than just ethical and could very well become an act of negligence, if not expressed.
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