Short Sales, Foreclosures, and Loan Modifications

Loan Modification

The Loan Modification process can be a long tedious process for homeowners. At Gulati Law we have experience to accelerate the loan modification process.

Loan Modifications are changes in one or more of the terms of a Borrower’s loan, which allows the loan’s delinquency to be reinstated and sometimes results in a payment that Borrowers can afford.

Gulati Law has successfully helped clients lower their payments and avoid foreclosure by helping them either with an in-house loan modification program or a government loan modification program. Call us today for a legal plan analysis.

Short sales

It is important to retain a Florida Real Estate Attorney if you are thinking about or in the process of a short sale. A short sale is a legal decision that allows a mortgage lender, such as a Bank, to regain the property back from the homeowner for less than the amount still owed on the loan. It is imperative you have an attorney during this process, because banks may retain a deficiency judgment against you.

A deed in lieu of foreclosure agreement is a similar option that allows a borrower to give the property back to the mortgage lender to avoid losing the property in foreclosure. These two options may appear attractive; however, there are serious downsides, which is why hiring a Florida Real Estate Attorney is a good decision.

Foreclosure

Unfortunately, many Floridians today are faced with the possibility of a foreclosure either having to foreclose on a tenant or a tenant defending a foreclosure. The Attorneys at Gulati Law will help explain the process and options you may have during this difficult time.