After a really hard economic period for all of us, it seems that life is moving forward as the pandemic turns into a past memory. Business are opening up, people are going out and spirits are high. Nevertheless, the financial effect of this pandemic is just starting. Millions lost their jobs.
Some will never recuperate them and other are returning to work with massive debt. Thousands have incurred in medical debt related to the Covid-19. Others, have lost their ability to pay their rents and mortgages and are facing eviction or foreclosure.
But, wasn’t there a moratorium on foreclosures? Yes and no. There many misunderstandings regarding the government measures to protect homeowners. The forbearance and foreclosure deadlines established by the federal government apply only to loans backed by a federal agency, Fannie Mae, or Freddie Mac.
If you have a private mortgage, then these moratoriums won’t apply to you. Yes, you could call your lender directly and try to negotiate your own forbearance. That will help you get more time to get your finances in order and while not ruining your credit. However, how long can this solution last? The same applies to people who are benefiting from these moratoriums. What’s going to happen once the moratoriums are over? What people need are permanent solutions or options that deal with the issues head on.
So what road can you take if you are facing foreclosure or are behind in your mortgage payments? If you are already in a foreclosure proceeding, please contact a Florida foreclosure defense lawyer immediately. There are very important deadlines that can’t be missed and delaying an answer could cost you your house. An attorney can help you decide if there is an argument in your favor that could win this case, if the case can be defended to win you some time or if bankruptcy is the right choice for you.
If you have still not been sued, then you have time to strategize. Maybe you want to benefit from this high-selling real estate market and sell your property. Maybe you just need some time to move out. Perhaps things are picking up and now you’re able to catch up on the payments.
Bankruptcy would be a great choice in this case. And maybe, you need to free up some money to continue making payments on your own. By examining your unsecured debt, such as credit cards and medical bills, a good bankruptcy attorney can tell you which ones can be eliminated or negotiated.
If any of these scenarios looks like your situation, do not hesitate to send us a message or give us a call to discuss more in-depth the options you have to deal with your creditors. Not only will we explore if bankruptcy is for you, but we also other departments that may be a better fit depending on your problem.
Our teams work together to find the right fit for you. Loan Lawyers has helped over 5,000 South Florida homeowners and consumers with their debt problems, we have saved over 2,000 homes from foreclosure, eliminated more than $100,000,000 in mortgage principal and consumer debt, and have recovered over $10,000,000 on behalf of our clients due to bank, loan servicer, and debt collector violations. Contact our Fort Lauderdale foreclosure defense lawyer for a free consultation to see how we may be able to help you.
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Loan Lawyers is made up of experienced consumer rights attorneys who use every available resource to develop comprehensive debt solution strategies. Our goal is to take on those burdens, resolve those problems, and allow our clients to sleep soundly knowing they are on the path to a better future.
