Due to the large amount of refinancing and sub-prime loans given during the housing bubble, followed by an eminent drop in property values, a large amount of properties are now worth less than the balance of the mortgage. One way for this “underwater” real estate to sell is through a pre-foreclosure – short sale, in which the lender holding the mortgage allows the owner to sell the house for less than what is owed to the bank.
Are you one of the millions of Florida homeowners who found yourself upside down in your home? Have you experienced job loss, income reduction or another hardship that has resulted in falling behind in your mortgage payments? We can help you through the foreclosure process and assist you in obtaining the best resolution for you.
There are a variety of areas of real estate law. At DeWitt Law Firm, we represent clients, large and small, in all aspects of real estate law. Whether your transaction is large or small, commercial or residential, we can help assist with all of your real estate needs.
Latest from Our Blogs
A Florida Bill aimed at protecting tenants in Florida foreclosures recently passed another threshold on its way to becoming state law. If voted into law, the Bill would require new landlords to provide existing tenants thirty days to vacate a property once it is sold at foreclosure auction. From 2009-2014, federal legislation known as the Protecting Tenants in Foreclosure Act required that new landlords honor existing annual leases, or
Recently, Realty Trac reported that Florida’s foreclosure numbers declined by more than 35% from last year. However, Florida still ranks as the highest state in the nation based on number of foreclosures.
Other reputable sources reveal that there are still some half million homes in the state of Florida that remain in some form of pre-foreclosure. Without doubt, there is a new wave of foreclosures on the horizon
With only days to spare before the end of the year, President Obama signed a bill extending the Mortgage Debt Forgiveness Act through 2014. The extension is great news to any individuals who completed a short sale in 2014.
A short sale is the sale of property for an amount that is less than what is owed to the bank. Traditionally, the short sale is accompanied with a waiver of
What you may not know about the foreclosure process could cost you much more than your home.
Call to speak with one of our Real Estate Attorneys today (813) 251-2701