Short Sales

Mortgage Forgiveness Debt Relief Act

December 20th 2007 President Bush signed the bill ensuring that any debt forgiven on a mortgage secured for a principal residence will not be taxed. This important legislation is one more step in helping homeowners through the fallout of the sub-prime lending boom. We have been advocating such a change to the IRS tax code for nearly 10 years and we are proud of this recent victory.

Short Sales

As short sales occurs when the property is sold for less than what is owed on the mortgage. Many times the lender will agree to a short sale rather than foreclosing on the property. The law Firm can offer you many varied types of loss mitigation, with or without Foreclosure defense. Many times clients will seek assistance with the Short sale from all the wrong places not realizing the crippling effects of an incomplete short sale that never occurs. We normally say the purchase of your home is the single biggest decision you will make in your life time, unfortunately in today’s environment your exit strategy will absolutely be an important decision that must be made with an understanding of your personal situation. A poorly executed Short Sale can have devastating effects for many years into the future. The Law Firm of Consumer lawyers of America has proven experience in this field.

How the process works

We will immediately make contact with the banking institutions to discuss our desire to prevent the property from going into foreclosure. If your property is in Foreclosure you should consider defending that foreclosure until the short sale is complete. The objective of a properly executed Short Sale is having the borrower(s) walk away with no fear of the lender pursuing a deficiency judgment. As the banks are currently overwhelmed this process can take anywhere from ninety  to 120 days from our initial contact with the bank. (more…)

Foreclosure Defense

Consumer Lawyers of America, P.A. offers Foreclosure Defense in a number of States. If you are delinquent in mortgage loan payments to the lender, have been served with a notice of foreclosure letter or have received a mortgage foreclosure complaint, you have a very short time to respond. In many cases, a homeowner and borrower may begin to lose precious legal rights in as little as twenty (20) days. Any delay may make the situation you are in worse, and if a borrower or homeowner fails to do anything at all, the situation may become the worst case scenario possible. A Florida Foreclosure or a Foreclosure in any State which offers the lender recourse against the borrower can have serious, long lasting ramifications that you may have to deal with in the future, so it is absolutely in your best interests to participate now while it is occurring. Your decision to participate now may preserve, protect and safeguard valuable legal rights affecting your future income, credit worthiness and income tax consequences.

We can offer to provide consumers with a mortgage foreclosure defense for a very low fee. Contact us for full details. Our representation in your foreclosure action will provide you with:

• The knowledge you will need to make informed decisions during this time period
• Our legal compliance analysis in the loan, collections, default and foreclosure process
• More time to pursue all loss mitigation and alternatives to foreclosure
• More time to negotiate a payment workout with your lender
• More time to save up money to reinstate your mortgage
• More time to refinance your mortgage
• More time to sell your home for fair market value
• More time to get over a hardship in your life so that you can afford to keep your home or property
• More time to qualify for bankruptcy

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Bankruptcy Services

Bankruptcy Law

The Managing partner of Consumer lawyers of America P.A. is a licensed Bankruptcy Attorney and can assist clients throughout the United States. A business or an individual can file for Bankruptcy once they have ascertained that it has become impossible to pay off one’s creditors. It can give you a chance to start over from a financial point of view, as most of debts are relieved after you file for bankruptcy.

Chapter 7, or liquidation bankruptcy, means that your “estate” – i.e., your assets – is sold in order to pay off your creditors. A reorganization bankruptcy can also involve the selling of assets, but more often than not you can retain a majority of your assets while your creditors’ needs are assessed. Reorganization bankruptcies can be filed under the following guidelines: Chapter 11 – businesses and individuals with many assets

Chapter 13 – individuals with steady income

Contact us today to learn more about your options under the current bankruptcy laws. We’re here to help. Make sure you work with a qualified Bankruptcy Attorney.

Chapter 11 Bankruptcy

Chapter 11 is a chapter of the United States Bankruptcy Code which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most prominently used by corporate entities.  When a business is unable to service its debt or pay its creditors, the business or its creditors can file with a federal bankruptcy court or protection under either Chapter 7 or Chapter 11.

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Loan Modifications

A large number of clients will find themselves using a Loan Modification Plan to avoid foreclosure. If you can currently afford your regular monthly mortgage payment but you can’t catch up with the past-due balance, we will negotiate with the lender on your behalf to forgive any past-due amounts including interest, penalty and escrow or to add back the delinquent total to the unpaid principal balance.

Consumer lawyers of America employs a H.U.D. certified loan modification specialist on staff to assist you! This individual is specifically licensed to perform Loan Modifications. It is important to understand the various lender and Federal programs and how they work.

If you’ve been struggling with mortgage payments, you are not alone. In today’s economy many are having a hard time making ends meet, and paying a high monthly mortgage doesn’t help.

Loan modification can help you to renegotiate your monthly payments to the bank and modify your payment structure to make it more affordable. But if you’re considering renegotiating you’ll need a qualified loan modification attorney to help you through the process. Our law firm is fortunate in having a H.U.D. certified loan specialist on staff to assist in the negotiation process with your lender.

Negotiation with banks can often be a haranguing and difficult process. That’s why it helps to have a qualified loan modification attorney alongside you every step of the way. We’ve helped many homeowners negotiate with banks and get the loan modification help they need.

Consumer Lawyers of America, P.A. has the tools and experience to restructure your mortgage with your lender. We understand what’s at stake for you and your family and will work tirelessly on your behalf. If a loan modification is not the answer we can perform a Short Sale.

Here are some of the extra solutions we can pursue for you…

 

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