The days of buying a home in Florida and seeing it as a major investment is over. I remember not to long ago as a former Swimming pool Contractor that people were buying homes and in less than 12 months were able to get a second mortgage to buy a $40,000 pool with just the accrued equity. That scenario duplicated on a national scale and while I enjoyed the tremendous amount of business the fake "boom" brought, the price I paid for not realizing the house of glass was fake cost me everything. Not casting a vision for the future, I lost my business and quite a bit more. This was not something exclusive to me although when going through it you feel like it is. People in Florida were pushed into a record fiasco of Bankruptcy's and Foreclosures. About the only ones getting wealthy in this playground were the Attorneys helping people out of this crazy mess. Ah yes---supply and demand. As Attorneys we don't often get accolades for doing what we do. I mean the jokes are rampant: "What 2 things will survive a nuclear war--Roaches and Attorneys" The interesting thing is that when people started losing their estates they turned to us in mass. And we answered. As experts in the practice of Bankruptcy Law we were able to give our Florida clients options the lenders did not want to offer freely. You see knowledge is power and at that time the banks had the power. People felt dissolute and overwhelmed by the sheer scope of debt. Don't get me wrong, as I don't advocate a blank check so people can do whatever they want with no consequences. So having the preliminaries out of the way lets move to options a person has with regards to a Florida Short Sale.
First lets define a short sale. It is a process where a bank agrees to let you sale your home for less than the mortgage and when the house sales you are clear of obligations with regard to the note. To simplify- you and the bank agree to sale the house for less than its worth and after it sales you get to walk away clear. Why do you need the services of a Good Florida Short Sale Attorney? Good question. Laws change all of the time. Banks have lawyers on staff who graduated from the best law schools. If a bank can find a way to apply pressure on the seller of a short sale, do you think the bank will hesitate in the slightest? There are 3 good reasons to get a lawyer on your case:
1. To help release personal liability---Although a bank may forgive the balance between the mortgage balance and the final sales price, they might not release you from personal liability. Because of this it might be possible for the bank to legally garnish your future wages, attach bank accounts or otherwise come after you for that money. in Florida we call it a deficiency judgment. Your Attorney can mount a good Foreclosure defense so you will have the proper protection in place while you short sale.
2. Asset protection and peace of mind. When you are vulnerable while in the midst of a short sale your Attorney can act like a safe house that you run into as the enemy attacks. I know it sounds generic but you have to understand that your attorney can take the burden of this process on his shoulders and that is where your peace of mind comes in. At the end of the day when the battle has raged you want to come through knowing that your assets have been safe guarded and the future looks like it will yield fruit. At that level you can have the peace that has seen so forlorn. Your attorneys services were worth the price.
At our Law firm Of Boyette, Cummins and Nailos we have 11 staff Attorneys who are dedicated to protecting our clients estates. We offer free consultations by calling 855-LAW-2020 and have a track record of excellent success. You can also access our web-site at http://www.bcnlawfirm.com. Allow us the opportunity to "Put your mind at ease".