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- Michael & Victoria
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Orlando Bankruptcy Lawyer
Orlando Foreclosure Defence Attorneys
What is Foreclosure?

Foreclosure is the legal process by which a lender repossesses or takes ownership of a property. A foreclosure normally occurs after an individual has become delinquent on their mortgage payments and default s on their mortgage. Once an individual defaults, the lender is able to file a foreclosure in an attempt to clear the properties title and allow the lender to receive clear marketable title to the property. On average a foreclosure can take several months if not years and once served it is important for individuals to retain counsel as soon as possible to make sure that your rights are protected.
Foreclosure defense is a service that we can provide which allows you to be represented against your lender and protect your rights in the foreclosure process. Often times if you are able to retain an attorney early in the process agreements can be reached with the lender that may allow you to modify your mortgage, refinance your mortgage, and work with the lender to move forward with a deed in lieu of foreclosure, or obtain a short sale prior to the foreclosure completing. There are also other options such as chapter 7 or chapter 13 bankruptcy that can be used in conjunction with foreclosure defense to achieve your goals in either getting out from under the debt or saving the home. 

Consequences of Foreclosure

Often times foreclosures result in significant amounts still being owed to the lender even after the property has been sold at foreclosure. Due to the economic downturn and the slump in real estate values many homes are significantly upside down or underwater as to the value vs. what is owed on the property. This is difference in what the home was sold for at foreclosure auction and what is owed on the property is called a deficiency and the bank can seek payment for these amounts even though you are no longer in possession of the home. These deficiencies can be significant and can cause significant financial problems for individuals facing them. Not only can you continue to owe money to the bank but your credit will be negatively impacted by the foreclosure which can cause you to have poor credit for many years. 
It is important when facing a foreclosure to hire an attorney early on in the process to protect your rights and help you and your family get through what can sometimes be one of the most difficult times in ones’ life. At Anderson and Ferrin we can help you achieve your goals and help you and your family get through foreclosure and other financial distress. Let us help you. Please contact our Orlando office at 407-412-7041 for a free consultation.  You may be surprised with some of the options that may be available to you.

For information regarding our other areas of practice - Criminal Law & Family Law - Click Here

This Web site is not intended to constitute legal advice or the provision of legal services. Material presented on the Law Office of Anderson & Ferrin Web site is intended for informational purposes only. By posting and/or maintaining this Web site and its contents, the Law Office of Anderson & Ferrin does not intend to solicit legal business from clients located in states or jurisdictions where Michael Ferrin and Victoria Anderson or any individual attorney in their firm is not licensed or authorized to practice law. Some links within this Web site may lead to other Web sites. The Law Office of Anderson & Ferrin does not necessarily sponsor, endorse, or otherwise approve of the materials appearing in such Web sites. 

The U.S. Congress has designated us as a Debt Relief Agency. We help people file for Bankruptcy Relief under the Bankruptcy Code.
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