Graham Legal, P.A.
814 Ponce de Leon Boulevard Coral Gables, Florida 33134
Phone: (305) 445-9185 URL of Map

Blog

Is the cost of a foreclosure defense attorney worth the gain?

cost of a foreclosure defense attorney
| No Comments on Is the cost of a foreclosure defense attorney worth the gain?

Many homeowners, particularly when facing financial hardship, may consider the cost of a foreclosure defense attorney to be unnecessary. After all, if you had money available, you would be able to continue making mortgage payments or maybe your plan is to forfeit the home. However, regardless of which route you plan to take, hiring a foreclosure defense attorney will save you money in the long run.

Below, we will provide the breakdown of how the cost of a foreclosure defense attorney is recovered:

Remain longer in your home: With an attorney representing you, the legal course of action will take longer. During that time you will need to pay the attorney to defend you, but you won’t be making mortgage payments. At Graham Legal, we have set up an affordable monthly payment plan, so that there aren’t any large, unexpected bills for hourly work. Activity in foreclosure cases tend to happen in chunks, which can accrue costs quickly if billed hourly. We advise our clients to use this time to save money.

Avoid deficiency judgment: An experienced foreclosure defense attorney will try to negotiate a plan with the bank that includes prohibiting them from pursuing a deficiency judgment after the case is concluded. Without clearly negotiating this, the bank may file a suit for any remaining debt they were unable to recover.

Work towards a foreclosure alternative: Just because foreclosure has already been filed, doesn’t mean that there isn’t a way out. Working with a foreclosure defense team will allow you to formulate a plan of action with an alternative resolution, whether it is through a short sale, deed-in-lieu, or modification.

If you have questions regarding the cost of foreclosure defense we would be happy to go over them with you. Feel free to email or call or office, the sooner you get the answers to your questions the sooner you can begin to work toward a solution

Leave a Reply

Your email address will not be published. Required fields are marked *

Call us: (305) 445-9185