Six Years Later …. What To Do If You’re Still Underwater

If  You Are “Underwater” Do Not Despair

Here we are, now in 2014 (6 years after the Great Recession) and statistics reveal mortgage foreclosure filings are trending downward in Miami-Dade, Palm Beach and Broward Counties.  Yet, despite what some tout as reason for optimism, if you’re one of the people still in the throes of a foreclosure case, or have been served with a recent foreclosure action, “optimism” would likely not be your word of choice.  Likely, you’d take these statistics with a grain of salt and,  … right you should!  Still today, it is reported that Florida posted the nation’s highest foreclosure rate at the end of 2013 (followed closely by Maryland, Illinois, Nevada and Utah).  According to RealtyTrac, in December of 2013, Florida had the highest foreclosure rate in the U.S.  One in every 409 Florida homes had a foreclosure filing that month, nearly three times the national average.

At the same time, the “rocket docket” approach in courtrooms across South Florida is alive and well.  It is more challenging than ever to remind the judiciary that plaintiffs are required to “prove their case” and that defendants are entitled to “due process” (despite whatever misconceptions may exist about how homeowners and/or investors become defendants in these cases).

And, of course, financial challenges continue to persist and plague us all.  Despite some of the upbeat news reported by various outlets, properties have not made up the dramatic drops in value suffered by countless homeowners and investors all throughout South Florida region.  Thirty percent of properties in South Florida are still underwater.  Combined with a continuing, sluggish economy (salaries have remained stagnant or slow to grow), it’s no wonder thousands remain, … underwater!

At the Reyes Law Group, we remain in the real business of offering “hope” to those struggling with these issues.  We help our clients overcome the sting of being sued, or overcome the distress and challenges of not obtaining an “approval” on their own loan modification or short sale.  Understanding that your home or nest-egg investment is generally your biggest investment and critical to your financial future, we bring strategic and tactical approaches to each case designed to help us navigate and obtain solutions for families or investors so they may move ahead with their financial lives.  Reyes Law Group lawyers understand and “get” foreclosure defense and can help you!  Combining our knowledge with compassion and dedication to our clients, we can confidently say that, yes, … which law firm represents you DOES MATTER!

At the Reyes Law Group, we not only can help you aggressively litigate your case, but can help you negotiate your loan modification, or negotiate your purchase and sale contract to sell your home, and close your short-sale transaction on time!  In the end, YOU too deserve a passionate voice to help you “defend your property and/or preserve your rights!”

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 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.

The hiring of a lawyer is an important decision that should not be based solely upon advertisement.  Before you decide, ask us to send you free information about our qualifications.

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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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