Sunday, November 10, 2013

5 Ways to Prevent Foreclosure in Florida

Roddy Lanigan, Eric Lanigan, Erica Warlick, & Jean Booras.
One of the things Florida homeowners often say when they come in for a consultation with experienced Florida attorneys Eric Lanigan and Roddy Lanigan is that they wish that they would have come in sooner and hadn’t waited so long to get help.
When you know that you’re not going to be able to pay your mortgage, but you want to keep your home and you’ve maintained a regular payment schedule, make an appointment to see Eric Lanigan or Roddy Lanigan at Lanigan and Lanigan P.L.

There are 5 ways to prevent foreclosure in Florida. Come in to meet with Eric or Roddy and you’ll be able to prevent foreclosure by a range of actions:

  1. See an attorney in a formal legal consultation to discuss the options
    1. As soon as a Florida homeowner knows that the mortgage is not going to be paid or feels that the amount due is stretching your budget see an attorney.
  2. If your income changes from any of the following issues, begin saving, budgeting and cutting back on any unnecessary bills.
    1. Usually there’s a major life-changing financial issue that affects a homeowner’s ability to pay the mortgage. A common problem includes any of the following:
·         Losing a job
·         The loss of:
o   Social Security
o   Disability
o   Alimony
o   Child support
o   Feelance work
o   Second or side job
·         Getting a medical issue not covered by insurance
·         Divorce
·         Car accident or injury with long-term disability

3.    Consider a mortgage workout to refinance your home mortgage.

4.    Change your financial habits with a strict budget that includes saving money.

5.    Let Eric Lanigan and Roddy Lanigan create a viable mortgage workout program complete with applications for government programs, principal forgiveness, debt reduction, second mortgage elimination, credit card debt elimination and many other very carefully planned options to present to the banks on your behalf. 

Don't Do It Yourself: Saving Your Home is NOT a DIY Project

Don't be proud and think that you can go toe-to-toe with the bank attorneys and financial experts. 

Don’t try completing paperwork on your own for programs like HAMP (Home Affordable ModificationProgram. 98% of all homeowners who complete the forms alone are turned down due to incomplete and incorrect form completion.

Other reasons for turndowns include an inability to reach the proper person at the bank and the inability to provide an attractive financial alternative mortgage package to the bank.

The Lanigans have an extensive amount of experience in creating packages for homeowners to the banks. They will be more adept at knowing what the banks will accept vs. what you as a homeowner can put together to appeal to the banks to make them interested in accepting an alternate payment plan.