Misinformation May Lead to Foreclosure

Mortgage foreclosure lawsuits are the single, most crucial legal challenge people continue to face today.   While it needn’t be, the thought is debilitating to many a homeowner or investor.  That’s why so many people jump at the first sight of lender letters or phone calls offering to “help” modify their loan or short-sale their house.  However, DANGER lurks there as well!

Homeowners immediately look to offer up answers to questions they don’t fully understand, fill out and complete modification packages they don’t comprehend, or list properties for sale under terms that don’t make sense.  Not surprisingly, months later, the information they offered up in “good faith” comes back to haunt them as lenders reject their loan mods or short sales on the basis of the very information the homeowner provided them at the beginning!  This circumstance must be avoided at all cost.

A law firm that negotiates loan modifications and short sales does so with an understanding of the various guidelines, parameters, and tactical methods necessary to best position their client to receive acceptable proposals.  By contrast, a homeowner or investor who is not used to such negotiations, will invariably, and unintentionally, provide the lender with information that does a disservice to their very own plight.  And if you understand lenders, you overlay the length of time it takes to get a response to a filing, let alone an ‘approval”, you understand that too many times this is simply a recipe for rejection.
This is why we counsel people to come see us early on, not months after they’ve supplied the lender with reams of information, only to be rejected, and now have the lender use that information to explain in court why a settlement is not possible.  While a modification or short sale approval can be achieved under these circumstances, why make it more difficult?

Folks generally believe “their” lender will work with them, after all, there continue to be thousands in foreclosure so why would they sue them and add to the pile?  Why force them out of their house?  Sell their property?  And then, eventually, try to collect any deficiency?  Because that’s what banks do!

Bottom-line: By coming in early to have a professional law firm negotiate your loan modification or short sale approval, you increase your chances of success.  First, because we’re not grappling with misinformation you may have inadvertently offered them on your own.  Second, because we focus on the key elements of a loan mod or short sale that will make an agreement make sense for you over the long term.  And lastly, because we work to identify and work with lender representatives that actually have the authority to approve our settlements.

Carlos J. Reyes  is the Principal of Reyes Law Group. He has been a member of the Florida Bar since 1988 and practices state-wide.  Carlos has been awarded a rating of “AV Preeminent” which is the highest possible rating in both legal ability and ethical standards by Martindale-Hubbell – a well-recognized legal resource. The RLG Legal Team also include attorneys Stephan LopezMelissa J. UlloaPhillip A. Ortiz and the RLG Legal Support Team to bring you a dedicated, experienced and dynamic legal team to handle your legal needs.

We also assist clients in the areas of: Civil LitigationReal Estate LitigationResidential Purchase & SalesCommercial Acquisitions & SalesResidential Landlord-Tenant LitigationCommercial Landlord-Tenant LitigationShort Sales NegotiationsLoan ModificationsCriminal DefenseCivil Rights ClaimsFamily LawCorporate Work, and Labor & Employment Law.

Call us for a FREE consultation at (954) 369-1993  Se Habla Español.

Visit our firm website ReyesLegal.com and review our credentials.

We are located at 150 S Pine Island Rd #210, Plantation, FL 33324


The Reyes Law Group BLOG is intended to provide information to firm clients, friends and potential clients about various legal related topics. Nothing in this BLOG should be construed as legal advice or a legal opinion. Readers should not act upon the information contained in this BLOG without seeking the advice of legal counsel.

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Reyes Law Group

Reyes Law Group represents clients in a multi-disciplinary legal practice involving real estate transactions and litigation with a “footprint” that covers the State of Florida. Over the firm’s first 10 years, Reyes Law Group has closed over $100M in commercial closings, representing buyers and sellers in contract negotiations, due diligence, and the related title review and policy issuance related to closings. In litigation, the firm has commercial litigation experience focused on prosecuting or defending claims such as breach of contracts, partition actions, trade secret violations, and breach of non-competes. However, our firm’s MAIN FOCUS is assisting asset and loan portfolio managers, investors and private lenders with a “ 4-PILLAR APPROACH” to the legal challenges they face with non-performing assets: 1) LOAN WORKOUTS; 2) COMMERCIAL FORECLOSURES (across the State of Florida); 3) COMMERCIAL EVICTIONS; and 4) REO COMMERCIAL CLOSINGS.30+ years’ legal experience means - WE CAN HELP!

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