How a foreclosure lawyer in Florida can maximize your claim
One of the most important things to understand about foreclosure is that you’re not always going to lose everything about your home. If you have equity in your home at the time of your foreclosure, you’re entitled to claim that money. However, it’s not always an easy process so our team at Claim Surplus can help you hire a foreclosure lawyer in Florida to walk you through the process. If you’re not sure you need a lawyer for your surplus, we have four ways they can help with your foreclosure and maximize your claim.
Negotiate with your bank
Banks want to minimize their losses when you’re going to foreclose on your house. While they will get a certain amount of money back from your mortgage when the house is sold at auction, they’re still at risk of losing out on tens of thousands of dollars. Because of the risk associated with foreclosure, your bank could try to get final mortgage payments. Your foreclosure lawyer can negotiate with your bank to reduce or eliminate payments before the final foreclosure on your home. You and the bank can benefit from final limited payments.
Minimize losses
Not only is the bank at risk when you’re foreclosing on a house, but you are also as well. If the foreclosure auction for your house doesn’t cover the remaining amount of your mortgage, you will have to pay out the rest of the mortgage. Before going into foreclosure, you can work with a lawyer to try to restructure your mortgage or find ways to reduce the amount owed. If you’re able to minimize your losses, you could work your way to a surplus claim after.
Ensures your lender is treating you fairly
Banks can get aggressive when trying to get a homeowner to pay their mortgage. Even if you’re planning to foreclose on your house, you could get multiple notices from your lender that feel as though they’re threatening you. Not only will your lawyer be the point of contact throughout the proceedings, but you’ll also be treated fairly. Your lawyer will ensure that the bank isn’t trying to do anything nefarious as far as trying to get you to make overdue payments or give them more money than they deserve. Foreclosure isn’t the ideal situation for anyone involved, but you still deserve to be treated fairly from start to finish.
Represents you in mediation
During your foreclosure proceedings, you have a chance to work with your lender to find a reasonable alternative to foreclosure. Having a lawyer who represents you is an excellent way to ensure that your bank doesn’t take advantage of you during mediation or otherwise. A lawyer who understands foreclosures and the laws surrounding them will ensure that you get out of your foreclosure with a minimal impact on your finances and a surplus when eligible.
File your surplus claim
When your home sells at a foreclosure auction, bidding will open at market value and likely go up from there. If you have equity in your home, you’re entitled to the amount of money it sells beyond the remaining value of the mortgage. Your lawyer will help you file your claim for the surplus amount and ensure that you get as much as you’re entitled to.
Get in touch for help
You don’t have to go through your foreclosure alone. Reach out to our team at Claim Surplus and we’ll help you hire a lawyer. While we don’t have a lawyer on staff, we have strong relationships with foreclosure lawyers in Florida. Contact us today by calling 407-759-6226 or sending a message using our online contact form. We’ll get you in touch with a lawyer from our network to assist you with your foreclosure proceedings.
