Protect Yourself With Knowledge
In the world of real estate, banks and mortgage lenders do not always gain from giving you complete information. Therefore, you cannot rely on them to give you the best deal or inform you of all your options. That's why you need an experienced real estate lawyer to help protect you.
My name is Jeffrey A. Klein, of the Law Offices of Jeffrey A. Klein in Daytona Beach, Florida. I work with distressed homeowners like you, giving you information that lenders don't want you to know.
Failure to Carefully Negotiate Agreements Can Hurt You
Most people assume lenders will be straightforward when negotiating an agreement, such as a short sale or loan modification. However, whenever you are dealing with a lender, it is important that you remember the bank or mortgage company is not necessarily interested in helping you. It's up to you to protect your interests.
Lenders Can Pursue Deficiency Judgments
If proceeds from the sale of your mortgaged property fail to pay your debt, the lender may obtain a deficiency judgment to recover the unsatisfied portion of the loan. Don't just take the lender's assurance that the debt has been eliminated, you will need to specifically negotiate this with them. Otherwise, you could face a deficiency judgment.
Deficiency judgments can occur with:
- Foreclosures
- Short sales
Since deficiency judgments are complicated, you should contact an experienced attorney as soon as possible to negotiate this lender option away.
Affordable Housing Programs May Be Available to You
Affordable housing programs exist. However, lenders are not usually interested in telling you about them, even though these programs could help you stay in your home by making your payments more reasonable. That's why it's important for you to learn about your options, so you have all the tools necessary to make an informed decision.
Trusted Legal Counsel
To learn more about what lenders won't tell you, contact me online or call my office locally at 386-492-9952 or toll free at 866-819-6032. For your convenience, evening and weekend appointments are available.
