Fighting Foreclosure in Jacksonville

Don’t Let Foreclosure Happen to You

Homeowners across the United States are struggling to stay current on their mortgage payments, and there are currently more than 1.5 million homes in foreclosure nationwide. Florida has one of the highest rates of foreclosure in the nation, with 1 in every 338 homes being foreclosed as compared to the nationwide rate of 1 in 810 according to RealtyTrac. The rate in Duval County is a shocking 1 in 254 homes in foreclosure. For many homeowners who receive a notice of default or a foreclosure notice, the response is to go into despair and begin making plans to move. Don’t make this mistake. No matter how bad the situation may seem, there is nearly always a better solution that can help you prevent foreclosure and protect your future from the consequences you face.

The first question to ask when preparing a plan of action for fighting foreclosure is whether or not you want to keep the home. If you would rather move on in life and put this experience behind you, then it is still in your best interests to avoid a foreclosure and the damage it would cause to your credit. One way to do this is to negotiate with the bank for a deed in lieu, which would allow you to surrender the deed in exchange for being absolved of any further obligation to pay on the debt. Carrying out a short sale is another option, and it involves persuading the bank to permit you to sell the property at the fair market value without behind held liable to pay any deficiency between the sale price and the remaining loan balance.

Helping You Keep Your House

If you are determined to stay in your home, it may be possible to avert a foreclosure by contacting the bank early in the process to request a loan modification. With success, you would end up with a more affordable mortgage payment based on the bank’s agreement to extend the period of the loan or to reduce either the interest rate or the outstanding principal. If this is not an option, it will most likely be necessary to go to court and contest the judicial foreclosure before a judge. There are several strategies in such a situation, including alleging that the bank is guilty of Truth in Lending Act violations, that there is no proof that you are in default or even that the bank does not have the necessary documentation to prove that they have a lien on the property. There are many ways to fight the case, but the one thing you must not do is to give up. Contact us now at The Law Offices of Justin McMurray, P.A. for a free case evaluation with a Jacksonville foreclosure defense attorney from our team.