Florida Foreclosures on the Rise, New Foreclosure Department Launched

June 27, 2012 - PRLog -- Debt Relief Attorney Network is seeing a massive increase in foreclosure, short sales and loan modification requests coming in thru their website http://debtreliefattorneynetwork.net and the helpline 1 877 522-2123. According to their foreclosure lawyers "we can hardly keep up. Florida has been hard hit by the economic downturn", says the spokesperson for debtreliefattorneynetwork.net. "We are starting to see an increase  in condominium foreclosures due to non payment of maintenance fees. Florida also has a large amount of investors who are walking away from property as well".

A Foreclosure Defense Network lawyer  is available to explain the entire process to you.  Facing foreclosure on your home can be the most important decision you can ever make. It is a frightening vulnerable situation. You need an experienced foreclosure defense attorney.  The debtreliefattorneynetwork.com foreclosure legal team can go to work for you immediately.

Debt Relief Attorney Network lawyers can help you with the entire foreclosure process.

Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership of the property that secures the loan. The foreclosure process begins when a borrower defaults on loan payments and the lender files a public default notice, called a Notice of Default (NOD).

According to debtreliefattorneynetwork.com the foreclosure process usually ends one of four ways:

1. The borrower/owner avoids foreclosure using a foreclosure prevention program during a grace period (pre-foreclosure). Two main solutions are possible with many variations:

A. A loan refinance or new loan is obtained to pay off late payments and bring the loan current.

B. A mitigation specialist works out new payments with the lender to avoid foreclosure.

An expert can help you with these options here

2. The borrower/owner sells the property to a third party during the pre-foreclosure period. The sale allows the borrower/owner to pay off the loan and avoid having a foreclosure on their credit history.

3. A third party buys the property at a public auction at the end of the pre-foreclosure period.

4. The lender takes ownership of the property, usually with the intent to re-sell it on the open market. The lender can take ownership either through an agreement with the borrower/owner during pre-foreclosure or by buying back the property at the public auction. These are also known as bank-owned or REO properties

Choosing the right foreclosure defense lawyer can be the most important decision you can ever make. Call  http://debtreliefattorneynetwork.com  Foreclosure defense lawyers with confidence that you will be handled by a professional legal team.