Handling Disputes That May Arise After a Foreclosure Auction in South Florida
Homeowners who lose their homes in a foreclosure sale often believe they are freed from any financial ties to their homes after the sale is complete. In many cases, this is correct. However, in situations where the foreclosed homes are sold for less than what is owed, mortgage lenders may feel it is in their best interests to pursue deficiency judgments against the homeowners.
In a deficiency judgment in Florida, a mortgage lender can seek an amount from the homeowner that equals the difference between what is owed and what the home sold for at auction. Our experienced Miami foreclosure lawyers at Ferrer Shane, PL, have the knowledge and skill required to properly defend your rights and interests in deficiency judgment cases. Call us toll free at 888-609-5947 to learn how we can help you.
How You Can Respond to a Deficiency Judgment
If your mortgage lender is seeking a deficiency judgment against you, we can help you understand your options, including possibly negotiating with your lender with the goal of having the lender sign an agreement to waive their rights to the deficiency. Lenders are often willing to negotiate these matters, as they do not want to spend an excessive amount of money attempting to collect on a judgment.
The important thing to understand is that you must defend yourself at all stages of the foreclosure process. From the initiation of your mortgage foreclosure through to the foreclosure auction and any subsequent actions, ensure your rights and interests are fully represented by a dedicated real estate attorney.
A Note About Short Sales and Deficiency Judgments
If you are considering selling your home in a short sale, you should know that you can still be held accountable for any deficiency in the final sale amount of your home. Inexperienced realtors or real estate agents are often not clear on this point, and can lead their sellers astray.
Before you hire a realtor and move forward with a short sale, speak to a lawyer at our firm. We can advise you about your options so you can make informed decisions moving forward.
Contact Our Miami Lender Negotiation Lawyers
To learn about your options for handling a deficiency judgment after a foreclosure auction, call our experienced real estate attorneys toll free at 888-609-5947 or e-mail our Miami law firm.
