What to Do if You Think Foreclosure is a Possibility
For many people, the current economic crisis is unlike any we’ve experienced in recent history. There are simply too many unknowns about how and when the economy will recover, how long people will be out of work, and what the future will hold in terms of how we interact with others going forward.
Yes, the implications have been far reaching from both a health and economic standpoint, and the uncertainty surrounding the global pandemic has and will continue to test us all.
Without question, these are trying times, and it can be easy to feel isolated, especially if you also find yourself facing the possibility of foreclosure. Rest assured, we here at Jacobs Legal are always ready to fight for you.
What to Do If You Find Yourself Facing Foreclosure in Florida
While we were glad Governor DeSantis imposed a moratorium on foreclosure actions, it won’t be surprising to see a flood of foreclosure proceedings starting that very day the moratorium ends if no further action is taken.
If you happened to experience this or if foreclosure a future concern of yours, we can help.
The good news if you find yourself in a foreclosure situation is that the Florida foreclosure process is not a quick one, which means you have time to mount a strong defense. A well-defended foreclosure has many benefits:
- You can continue to live in your home during the fight.
- You can continue to collect rent from investment properties.
- You may get a meaningful loan modification offer that brings the principal balance on your loan down to the market value of your home.
- You may avoid a deficiency judgment on an underwater property.
- You could develop facts that will force the bank to settle on better terms.
Since the banks are going to be overwhelmed dealing with foreclosures during this time, you have a good opportunity to partner with us at Jacobs Legal to set your case up for success.
If you have any questions about the foreclosure process, please don’t hesitate to get in touch to discuss your options. After all, taking action now could be the difference between losing your home forever or putting up a fight to keep it.