The feeling of finally owning your own home after putting in a lifetime of working toward that goal is indescribable. But that wonderful feeling can go away in an instant if the bank forecloses on your property. A Florida foreclosure can be difficult to prevent once you receive a breach letter. At that point, the bank has already involved lawyers and typically believes it is financially better to proceed than to offer alternative options. However, this doesn’t mean it is impossible to avoid foreclosure. Foreclosure mediation services from The Law Office of Carlos M. Amor, P.A. may be able to help you avoid losing your home. But what is foreclosure mediation? For some borrowers, it is a form of foreclosure defense that may provide a solution when foreclosure is imminent.
There are many ways to protect yourself from foreclosure with the assistance of a foreclosure defense attorney. However, your options typically decrease the longer you wait to act. Foreclosure mediation is usually one of the last lines of defense because it occurs after the formal legal process has already begun. Foreclosure mediation offers you one last chance to negotiate for foreclosure alternatives. During this process, you and the lender (and your lawyers) negotiate alternatives with the assistance of a third-party mediator. If the negotiations are successful, the foreclosure ends. Otherwise, it continues where it was left off before mediation began.
Typically, there is little disadvantage to either side in agreeing to mediation. Mediation offers a less adversarial and more informal opportunity to negotiate a reasonable solution. Neither side is required to agree to anything, nor can the mediator force a resolution. Mediation typically explores all potential options, like loan modification and short sales. This may result in your discovering a path you didn’t realize was available. If you and the lender can agree, both sides may avoid the negative impacts of foreclosure.
Foreclosures often result in negative consequences for both lenders and borrowers. Foreclosure mediation might allow you to avoid those consequences.
Typically, cases are referred to mediation in one of two ways: one of the two sides requests mediation or the court orders mediation. The court has the authority to order mediation if it believes the circumstances warrant it. When this happens, the court tolls the time that both sides have to respond to legal notices. The mediation continues until the two sides agree to terms or until the mediation declares that an impasse has been reached.
The mediation process is reasonably simple. You and the lender agree to a mediator. If you can’t agree, the court might assign one. Florida real estate attorney Carlos M. Amor will bring all of your financial information to the mediation session to be used as evidence. During the session, he will negotiate with the lender, offering several alternatives to foreclosure. The mediator will guide this session to help it run smoothly and with minimal adversity. With any luck, an agreement will be reached. In some cases, it takes only a few hours to find a solution, whereas others will take days or even weeks. Regardless of the outcome, the process is confidential.
Ready to learn more about how mediation foreclosure can protect you? The Law Office of Carlos M. Amor, P.A. offers free consultations in person, via phone, and video calls. Contact him today at 954-453-7200 to schedule your consultation.
The most important thing to understand about mediation is that the mediator is not a judge. They aren’t there to make decisions about facts or express their opinion on how the mediation should conclude. Instead, their purpose is to facilitate communication between the lender and the borrower.
It is the job of attorney Carlos M. Amor to make a case that resonates with the lender. He needs to present evidence of your financial hardship and your willingness to cooperate. For example, the lender may be willing to accept a loan modification or forbearance if you show strong enough evidence that you will fulfill your obligations. Attorney Carlos M. Amor will make his case with a preponderance of evidence and strong negotiation skills.
The best possible outcome of this mediation is to come to an agreement to modify the terms of the loan or to pursue an alternative to foreclosure. This alternative may not result in your keeping your home, but it may put you in a better financial situation at the end of the process. The worst result is that both sides are unable to agree, and the foreclosure process has to continue in court. Occasionally, mediation may not come to any conclusion except that both sides would prefer to continue exploring other options.
Attorney Carlos M. Amor has more than 15 years of experience handling foreclosure cases. By hiring him to represent you in your foreclosure defense case, you will gain a lawyer who:
The foreclosure mediation process in Florida is a lot easier if you have the right lawyer defending your interests. If you want to know more about how attorney Carlos M. Amor may be able to help, request a free consultation.
Florida has the fifth-highest foreclosure rate of any state in the country. With any luck, you won’t be subject to foreclosure, but if you are, you may be able to turn to foreclosure mediation to avoid losing your home. By working with an experienced lawyer like Carlos M. Amor and allowing an independent mediator to facilitate communication with the lender, you have a better chance of finding a fair alternative.
Are you facing foreclosure proceedings in Florida? Don’t wait to discuss your case with a lawyer. Schedule a free consultation with The Law Office of Carlos M. Amor, P.A. by calling 954-453-7200 today.