At the Law Office of Ray Garcia, a foreclosure defense firm in South Florida, we understand the challenges of facing foreclosure. We aim to help you navigate this difficult process to avoid losing your home. Knowing the steps of the foreclosure process can prepare you for what lies ahead. Pre-Foreclosure When homeowners can't make mortgage payments, lenders must send a “notice of default and acceleration.” This Read More
Commercial Foreclosure FAQ
In today’s challenging economic climate, business owners and lenders have questions about their options when the mortgage can’t be paid. Can a commercial property be foreclosed upon right now? What does the process look like in a system that is still impacted by the pandemic? In this blog, we answer some of the most frequently asked questions we receive about commercial foreclosures in South Florida. Can a Read More
Short Sale in Avoidance of Foreclosure
Written by: Nicole M. Garcia, Esq. When facing a Foreclosure action knowing what options are available is essential. If the Homeowner wishes to keep the property some of the loss mitigation options possibly available are loan modification, forbearance agreement, and repayment plan. Once those options have been exhausted there are other options, which allow the borrower to voluntarily turn over the property in order Read More
Refinancing in a time of need
During times of uncertainty, the question on most people’s mind is how to save money. If you are a property owner refinancing your mortgage can help you meet your savings goals. Refinancing involves changing your existing mortgage for a new one with more favorable terms. Mortgage refinance is a strategy to help homeowners meet their financial goals. When you refinance your new lender pays off the existing mortgage Read More
Deed-in-Lieu of Foreclosure
Written by: Nicole M. Garcia, Esq. When facing a Foreclosure action knowing what options are available is essential. If the Homeowner wishes to keep the property some of the loss mitigation options possibly available are loan modification, forbearance agreement, and repayment plan. Once those options have been exhausted there are other options, which allow the borrower to voluntarily turn over the property in order Read More
Will COVID -19 Impact your Bankruptcy Case?
Will COVID -19 Impact your Bankruptcy Case? COVID-19 has been affecting various aspects of daily life including the federal, state, and local governments. Although the courts have been slowly adjusting their rules and procedures in light of this pandemic – there are still some uncertainties in current and future debtors as to how they can move forward with their filings. The following are a few guidelines to follow Read More
What is a Loan Modification?
Written by: Nicole M. Garcia, Esq. At some point or another in our lives we are faced with adversities and struggles. If you find yourself struggling to make your monthly mortgage payments or have fallen behind, you are possibly at risk of losing your home or will be facing a Foreclosure lawsuit. It is important you know that all is not lost and there is hope in the form of options that are available to you. One of Read More
What to Expect at a Foreclosure Trial
If you are underwater on your mortgage, you may be facing foreclosure. Foreclosures can happen either judicially (in court) or non-judicially (out-of-court). Non-judicial foreclosures are typical of loans that are secured by a trust while judicial foreclosures are common in loans that are secured by a mortgage. If your loan was secured by a mortgage, you will probably have to go through a foreclosure trial. In this Read More
A Brief Overview of the Foreclosure Discovery Process
Discovery is a crucial weapon against the banks, when they are looking to acquire your home through foreclosure. It entails requesting information that is relevant to the lawsuit from the other party, including any evidence they have that suggests they are entitled to your home. Here is a brief overview of the foreclosure discovery process. Types of Discovery 1. Interrogatories – these are general questions you Read More
Know Your Rights in the Foreclosure Process
Falling behind on your mortgage payments is a scary experience, and if it gets to the point where you are either in foreclosure, or at risk of it, it is important to know all of your rights. There are many laws and regulations in place designed to help ensure consumers are treated fairly and given the opportunities needed to get back on track financially. The following are some of your most important rights that you Read More