MORTGAGE FORECLOSURE DEFENSE
At Scarnecchia Mullin, PLLC, we help borrowers find a way to meet their financial obligations and remain in their homes. We understand that “life happens” and you may be struggling to make your mortgage payments. Whether the result of job loss, pay reduction, medical emergency, or other unforeseen circumstances, our experienced Foreclosure Attorneys will create a personalized strategy for you based on your stated goals.Our Attorneys have a combined decades worth of experience litigating Mortgage Foreclosure actions across the State of Florida, specifically in Miami-Dade County, Broward County and Palm Beach County, and understand the intricacies of a Foreclosure proceeding. Whether you are in pre-foreclosure or post-judgment, our Fort Lauderdale Attorneys have the knowledge and skill necessary to guide you through the complicated Foreclosure process.
Our Foreclosure Attorneys also offer counsel regarding Foreclosure alternatives. It is important you know that even if you are having trouble making your monthly mortgage payment, there are options outside of Foreclosure available to you. Our Attorneys can walk you through both your retention and non-retention options. If you are looking to remain in your home, you may be eligible to apply for a Loan Modification or negotiate a Payoff or Reinstatement of the loan. If you are not interested in retention options, our Attorneys can help guide you through the complex Deed-in-Lieu or Short Sale process. Our Attorneys will explore all options with you so you can avoid a Foreclosure Judgment.
Florida Foreclosure Alternatives
The Loan Modification process generally begins when you contact your bank’s loss mitigation department who will provide you with an application for a Loan Modification. After you submit the Loan Modification application, the bank or servicer will review your application and either approve or deny your Loan Modification application. Once a Loan Modification application is submitted, however, the bank cannot initiate or pursue a Foreclosure action until it has denied your application. Banks and servicers must follow stringent regulations throughout the review process. A breach in these regulations and procedures may result in a violation of your rights and may be a cause of action for your own lawsuit against the bank or servicers or grounds to stop a subsequent Foreclosure proceeding. If your Loan Modification application is approved, changes to the terms of your mortgage may include a reduction of the interest rate, an extension of the payment term, or a reduction of the principal balance of the loan. Our Attorneys will help you gather your information and ensure you cross all your “t’s” and dot all your “i’s” in completing your application. Our Fort Lauderdale Attorneys will speak directly with the bank or servicer on your behalf throughout the whole process. Having the right Attorney represent you can be the difference between approval or denial of your Loan Modification application. At Scarnecchia Mullin, PLLC we know how stressful the Foreclosure process can be and are passionate about aiding homeowners in meeting their financial burdens and keeping them in their homes.
A Payoff occurs when you pay the bank the total amount required to satisfy the mortgage loan balance. This option allows you to stay in your home and avoid Foreclosure without any further harassment from the bank. After a Payoff is accepted, the bank must dismiss any pending Foreclosure action, vacate any final judgment or sale previously entered, dissolve the lis pendens and record a satisfaction of mortgage in the public records. Oftentimes, the bank will agree to accept a discounted Payoff amount. Our Attorneys have the experience necessary to negotiate a discounted Payoff in a Foreclosure action and can assist you in obtaining the optimal result to avoid further threat of foreclosure, final judgment, or deficiency judgment.
Reinstatement occurs when you pay the defaulted amounts due on the loan as indicated in the Reinstatement quote provided to you by the bank. Once reinstated, the loan is deemed current and no longer in default. Once reinstated, you simply resume making your regular payments to the bank. Upon confirmation of the Reinstatement payment, the bank or servicer must dismiss any Foreclosure action, vacate any final judgment or sale previously entered and dissolve the lis pendens. Our Foreclosure Attorneys will work with you through the Reinstatement process and ensure the bank or servicer is taking the proper actions following your Reinstatement.
A Short Sale is a sale of the property for less than the amount outstanding on the loan balance. This is the best option for homeowners in pre-foreclosure or foreclosure looking to move or for a “fresh start”. If accepted by the bank or servicer, a Short Sale allows you to sell your property and be free of your financial obligation. Our Foreclosure Attorneys know the Short Sale process, and the impact certain factors have on the bank’s decision to approve a Short Sale, including your individual hardship and income; the appraised value of your home; the equity the bank would obtain at a Foreclosure sale; and the cost the bank would incur once the property becomes part of their Real Estate Owned (“REO”) portfolio. Our team will ensure your Short Sale application is completed correctly and timely to avoid unnecessary delay and expense. Our Foreclosure Attorneys have the experience required to sort through the logistics of closing a Short Sale to help you avoid Foreclosure.
Deed-in-Lieu of Foreclosure (“DIL”)
Many homeowners simply wish they could “walk away” from their property in Foreclosure. For these homeowners a Deed-in-lieu of Foreclosure may be the perfect option. With a Deed-in-Lieu of Foreclosure, you turn over the keys to the property to the bank in exchange for avoiding Foreclosure and relief from the mortgage debt. If interested in a Deed-in-Lieu of Foreclosure, you must first complete an application to submit to the bank to see if you are eligible. If you are deemed eligible and the Deed-In-Lieu is successful, you can walk away from the property with a fresh start and avoid entry of a Foreclosure judgment or deficiency judgment against you. The Deed-in-Lieu process can be complicated and may involve title issues of which the typical homeowner may be unaware. The experienced Attorneys of Scarnecchia Mullin, PLLC are well versed in the Deed-In-Lieu process and can guide you through a successful transaction.
Bankruptcy and Debt Relief
Florida law permits you to declare Bankruptcy in an effort to retain ownership of your home and avoid foreclosure. Filing for Bankruptcy provides a renewed financial freedom and allows homeowners relief from the threat of a deficiency judgment that may be looming once a Foreclosure Judgment is entered against you.
Our Attorneys evaluate your individual circumstances to develop a strategy that best serves and protects your interests. Our Fort Lauderdale Attorneys will work with you to determine whether a Chapter 7 Bankruptcy or Chapter 13 Bankruptcy is most appropriate for your unique situation and the consequences and benefits of each filing. Our foreclosure attorneys will be there to guide you through the process from start to finish.
Consumer Protection Litigation
The Florida Consumer Collection Practices Act (FCCPA) aims to prevent illegal and abusive debt collection activities. At Scarnecchia Mullin, PLLC we help you fight against those debt collectors who have violated consumer protection laws. If you think you have been a victim of illegal debt collection activities, our experienced Fort Lauderdale Attorneys are here to defend and protect your rights.
Post Foreclosure Judgment Matters
Many homeowners believe once a foreclosure judgment is entered against them, they no longer have any rights. However, this is procedurally and legally incorrect. Our Fort Lauderdale and Boca Raton Foreclosure attorneys can help evaluate your post judgment matter to determine what legal options may still be available to you. This can include moving to vacate the final judgment of foreclosure due to a due process violation or service issue or moving to cancel the sale due to ongoing loss mitigation efforts. It is imperative that each homeowner be aware that the foreclosure is not complete until the purchaser of the property at the foreclosure sale takes title by virtue of a Certificate of Title. Certificate of Title will be issued no earlier than ten (10) days from the foreclosure sale date.
Motion for Disbursement of Surplus Funds from Court Registry
A foreclosure sale is a public auction that takes place after a Final Judgment of Foreclosure is entered. Any party or entity may bid for the property at the foreclosure sale. A surplus occurs when the purchaser of the property purchases the foreclosed property for an amount higher than the Final Judgment amount. For example, if a Final Judgment of Foreclosure was entered in the amount of $100,000.00, and the purchaser at the Foreclosure Sale purchased the property for $150,000.00, there would be a surplus in the amount of $50,000.00. Florida Statute 45.032 clearly outlines those parties, including the homeowner who may make a claim to the surplus funds. Specifically, any “owner of record” at the time of filing of the foreclosure action may make a claim for the surplus funds, held in the Court Registry. Call our Broward, Palm Beach and Miami-Dade County attorneys to evaluate your case and determine whether you have a right to surplus funds being held in the Court Registry.
At Scarnecchia Mullin, PLLC our Debt Relief attorneys specialize in finding unique and individualized solutions to our client’s debt related matters. Our South Florida attorneys negotiate directly with your creditors and/or their attorneys to obtain affordable solutions. Our skilled Debt Relief attorneys understand the complexities of each debt related matter and maximize alternative litigation approaches to allow our clients to achieve their financial goals without the cost of unnecessary and timely litigation or bankruptcy filings. Our team specializes in negotiating payment plans and short payoffs for credit card debt disputes while ensuring each clients rights are legally protected.
At Scarnecchia Mullin, PLLC we aim to assist each client in taking back control of their financial freedom.
At Scarnecchia Mullin, PLLC we assist employees in ensuring that their wages are not improperly garnished. Wage garnishment occurs when a creditor takes legal action to seize a portion of your wages, bank account or other assets. Through wage garnishment proceedings, the creditor will coordinate directly with your employer to deduct a specified amount of money from your paycheck. Unless proper measures are taken, the garnishment will continue until the outstanding debt is satisfied. Florida law provides certain exemptions based on income and family history. The experienced Wage Garnishment attorneys of Scarnecchia Mullin, PLLC, will evaluate your case and determine whether there are applicable exemptions that may prevent or halt such garnishment from occurring. Our skilled Fort Lauderdale Attorneys will work directly with your creditors to ensure your rights and wages are protected under the law.