Legal Question in Real Estate Law in Florida

Financial

Is there a way to quietly negotiate with a bank to take back your home or negotiate a lesser interest rate.


Asked on 9/17/07, 12:59 pm

3 Answers from Attorneys

Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Financial

Remain calm, understanding and don't raise your voice.

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Answered on 9/17/07, 2:37 pm
Johm Smith tom's

Re: Financial

Jokes aside; your bank probably doesn't want to foreclose on you. Talk to them and they might be willing to lower your payments/interest or both. Good luck!

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Answered on 9/18/07, 12:28 am
Scott R. Jay Law Offices of Scott R. Jay

Re: Financial

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

You can try, but do not count on it as a definite until the bank would agree. This is called a short sale but banks have become very reluctant to allow one in recent years. You can also try to reduce your mortgage if your credit would warrant a reduction based on your credit score and the current market.

Scott R. Jay, Esq.

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Answered on 9/18/07, 1:23 am


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