Legal Question in Real Estate Law in Florida

forclosure

In December I owed Oct, Nov, and Dec mortgage payments. I got a demand letter from the bank and called the woman whos name was on it. When I voiced my concern, she expressed that the letter was computer generated, but the bank would work with me. I told her I would make 2 payments in Dec. I one payment then. The last week of December I attemted to make a second full month payment. Thebank informed me that the loan had beensent to the attorney and they could not accept my payment. when I called the attorney,I was informed I needed to submit a request for reinstatement. I received the statement yesterday. The atorney wants 4 payments totaling $1777 and $1808 in attorneys fees. What recourse do I have, given the current economy? There is at leaste 2X equity to outstanding loan and I believe this is why the bank wont work with me.


Asked on 1/13/09, 10:54 pm

1 Answer from Attorneys
Justin Schmidt Law Office of Justin B. Schmidt, P.A.

Re: forclosure

There are many mortgage modification companies out there that may be able to assist you. One company I am familiar with is called Blue Fox Financial. They have more info at http://www.collegefafsafinancialaidgrantsplanning.com/Index.asp

I sounds like you need representation quickly. It may already be too late.

It is very important to start negotiating with your lenders at a very early stage when you think you might defaulted. The longer you wait, the more expensive the process will be.

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Answered on 1/14/09, 2:36 pm


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