Homeowners default on mortgages because they cannot afford the payments or because it makes no sense to keep paying. Either way, a strong defense will level the playing field and put time on your side – instead of the other way around.
The real estate market is once again very active, and HLA rounds out its real estate practice by adding closings to its repertoire. In Florida, you are not required by law to have an attorney do your closings, but it is a good idea for several reasons. Easy Access to your Attorney First and foremost, having a title agent who is
Despite the propaganda, loan mods are difficult to obtain and banks rarely reduce principal. However, a loan mod can make sense for some people. The nice thing is, when it works, modification is a permanent solution.
If all you want to do is get rid of the property without having a huge deficiency judgment haunting you, then a short sale is probably the answer. Since the HAFA program was introduced, it has become easier to get short sales approved. “Easier” does not mean “easy,” however, and you still need (i) expert legal advice regarding tax implications, and (ii) effective negotiation to obtain waiver of deficiency.
With the real estate market on the rise, the business models that worked before the bubble burst are back. Get advice from an experienced real estate attorney knowledgeable about tax implications and asset protection associated with real estate investment.