Foreclosure Attorney Orlando
In 2008, foreclosures affected 1.8% of all housing units in the United States. By 2009, foreclosures were up 81% from 2006. During the Great Recession, foreclosures in Florida led the way for the nation. Many people remember the pain that we experienced in 2008 and for some, it is a long ago but not forgotten memory. In 2019, foreclosure rates rose for 10 consecutive months throughout Florida while the rest of the nation saw a decrease for the same 10 months. This is alarming, to say the least.
In March 2020, the Great Lockdown began due to the spread of COVID-19. This led tenants to not pay landlords rent for many months of 2020. These landlords then asked their banks for mortgage deferments and some relief. While some calls for relief were granted, others were not, and foreclosures began to rise again in Florida. What’s worse, individuals who owned their homes with mortgages also began to feel the pressure that landlords did. Some lenders have allowed deferrals in mortgage and others have not. The risk that foreclosures continue to rise into the 2020s is great and you must be prepared.
What to Do if You Are Facing Foreclosure
If you or a loved one has been served a complaint and summons by a process server from your bank or lender, do not panic. The absolute worst thing that you can do is to panic and try to ignore the problem. Do not bury your head in the sand if you or a loved one has either received a notice of foreclosure, a demand letter from your bank, or worse a complaint and summons for a foreclosure action.
You must act fast. You must retain qualified, skilled foreclosure defense professionals.
From the moment you are served with the complaint and summons, you have only twenty (20) days to file an Answer, Affirmative Defenses, or any counterclaims. In other words, you have only a few days to retain a qualified foreclosure defense lawyer.
The best thing that you can do, is to contact our office immediately. Contacting a skilled, qualified, and aggressive foreclosure defense attorney in Orlando is the smartest action you can take. Our firm serves as foreclosure defense attorneys throughout Central Florida including Volusia, Seminole, Osceola, Lake, Polk, and of course Orange counties. We help families from Orlando to Kissimmee up to Sanford and across to Daytona back out to Lakeland. Our firm is a local law firm made up of real lawyers and paralegals that you will get to know as we defend your foreclosure action and help your family get out of a tough situation.
Unlike most firms that you will find on the internet, we are not a massive law firm with small offices throughout the State of Florida. Attorney Rahul Parikh is a former prosecutor who has tried over 30 jury and bench trials in his career. He is a true trial attorney, and he will put up a strong defense to your foreclosure action while attempting to find an exit strategy for you that is tailored to you, your family, and your goals.
When you call Parikh Law, P.A., you will sit down with Attorney Parikh to discuss the unique aspects of your case.
Is there a defense to a foreclosure if I have not paid?
Yes. There are many technical defenses to a foreclosure action. Truth and Lending regulations are very strict. If your bank or lender violated even the most basic Truth and Lending regulation or requirement, we may be able to have your mortgage rescinded or voided. Many times, the person that did the closing on your loan package or re-finance may have made a mistake. The slightest mistake, such as the notary forgetting to notarize your mortgage, or someone forgetting to get witness signatures on certain documents, can end up being a nightmare for bank attorneys who are coming after our clients.
Even when there is absolutely no defense, our firm can make sure that your bank or lender has to properly follow the procedural guidelines of the foreclosure action, which means that you will have time to find an exit strategy that does not involve your home being taken away from you for nothing in return. The purpose of these defenses is to slow down the bank’s foreclosure action and give you time to come up with a realistic and final solution.
The laws in the United States and in Florida may not be perfect, but they certainly do call for due process. Your bank or lender cannot simply just take your home from you without due process. Due process means courts, hearings, pleadings, defenses, and procedural rules that your bank’s attorneys must follow. We make sure that they do. I find and exploit every single defense for you and we litigate your foreclosure defense case aggressively. While we are holding the enemy at the gates for you, we will also help you come up with a strategy to get out of the situation.
What exit strategies are there to get me out of this mess?
Alternatives to Foreclosure include negotiating a new payment plan with your bank, mortgage and home loan workouts, arrange a consent judgment or short sale which will allow the bank to foreclosure but waives the debt deficiency, arrange a short sale or deed in lieu, or negotiate a second mortgage. A mortgage modification can include a reduction or change in the loan’s interest rate, a reduction in the loan’s principal, a reduction or elimination of late fees or penalties for non-payment, a reduction in your monthly payment, or a forbearance to temporarily stop making payments while things get worked out between the parties.
Why would your bank negotiate with you? Simple. Because they may not want to continue to pay their bank lawyers thousands to tens of thousands of dollars to go up against us as we put up legal and sufficient legal roadblocks to their foreclosure action.
Banks do not like foreclosing on properties. It makes them no money. In fact, they lose money. The longer we defend your case and the more aggressively we do so, the more likely it is that your bank will work with us to get you a good deal to resolve the situation.
Foreclosure is bad for both parties. Rarely does it represent our clients’ best interests to have their home and all of the equity in it taken away for nothing in return. And rarely does the bank or lender want to pay all of the attorney fees and costs of bringing the lawsuit against you to take the property, only to be stuck with a bank-owned property that they then have to auction off for pennies on the dollar.
Once we establish and show your bank that taking your home will be a long and painful road for their bottom line, we use that as leverage to negotiate with them to find our client the best exit strategy possible.
Parikh Law, P.A.
We are a boutique criminal and civil law firm located in downtown Orlando Florida serving the greater Central Florida region. We have defended many foreclosure actions through our foreclosure defense attorney. We have helped many homeowners and landlords defend foreclosure actions and execute exit strategies based on their unique situation, needs, and goals. Our firm is always dedicated to providing our clients with VIP Service, Aggressive Representation, and a Caring Team. If you or a loved one is facing a foreclosure, make sure you get a strong ally in your corner. Call Parikh Law, P.A. today at 321-558-2704.