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105 FAQS where found , 30 in this page
In the state of Florida you must respond within 20 days following notification. Therefore it is of great importance to meet with a lawyer. View Service
Yes, the foreclosure attorney in his defense gives you time to fix your financial situation or achieve alternatives that benefit both you and your family. View Service
It is the embargo that occurs against the debtor since the sale of the property was not enough to pay the mortgage, it is considered a debt. View Service
All those individuals and companies with large financial debts that cannot be solved by themselves and need to rely on one of the types of bankruptcy to resolve the economic situation. The bankruptcy works best for borrowers who may have some type of income that helps them cover their costs after downloading the corresponding chapter in the case. View Service
When a homeowner decides to stop making mortgage payments, this is called a strategic default. Strategic defaults are used usually when the persons home is worth less than the mortgage balance, or when the person is no longer able to pay their monthly mortgage payments. View Service
A letter of demand or acceleration is sent by a lender to a homeowner when the homeowner stops paying the mortgage. The lender must send this letter before they can proceed with a foreclosure lawsuit by the total loan amount. View Service
There are a number of foreclosure alternatives available to homeowners, including short sales, deed in lieu of foreclosure and loan modifications. A qualified attorney can assist you in implementing these options and give great chances of a successful outcome. View Service
Bankruptcy should never be the first alternative for individuals with a foreclosure; there are other options that can be adopted to prevent the implications of a foreclosure sale. If the mortgage borrower has other debts, then bankruptcy could be a way to use to relieve the homeowner, but still it should be the last resort. View Service
No, the debtors are not going to prison for having accounts payable with creditors, unless they have committed a federal crime or fraud. Creditors may only collect debts through the court and ask the judge for a claim against the debtor for a money judgment. Even if the demand is achieved, creditors can seize some of your properties or cancel your checking account, but they cannot get an arrest warrant for debtors. View Service
Borrowers are allowed to receive only one loan modification within a period of 2 years. View Service
Yes. The lender can perform an inspection or any review it considers necessary to verify that the house has no physical conditions negatively influencing the borrower's ability to make the modified mortgage payments. View Service
The Home Affordable Modification Program (HAMP) was created by the government. This federal program was designed in order to ease the financial burden of homeowners when paying their housing costs. HAMP helps homeowners by reducing their mortgage payments and make them more affordable. Our lawyers at Gallardo Law Firm are familiar with the process. They can help you determine which options you have and whether you qualify. View Service
It is expected that the lender waive all late charges accrued at the time of the loan workout. This can vary depending on the loan but its always useful to ask for a complete breakdown or description of all penalties and fees from your lender. View Service
Individuals participating in Home Affordable Modification Program (HAMP) generally dont see a drop in their credit score since the government has requirements in which lenders report HAMP in a way that it doesn't harm the borrowers credit score. Nevertheless, there is no guarantee that a loan modification will not affect your credit score. If you have any loan modification questions or concerns, call Gallardo Law Firm. View Service
You may receive a reduction in your principal. Mortgages companies are receiving incentives from the government to do so. There are certain requirements you need to meet which includes living in your house and have a mortgage of $729,750 or less. View Service
When the borrower doesnt qualify for a loan modification yet he or she cant afford mortgage payments; there are other options that will help the homeowner avoid foreclosure, which may include:
In the state of Florida you must respond within 20 days following notification. Therefore, it is of great importance to meet with a foreclosure attorney. View Service
Yes, the foreclosure attorney at Gallardo law Firm in his defense gives you time to fix your financial situation or achieve alternatives that benefit both you and your family. View Service
It is the embargo that occurs against the debtor since the sale of the property was not enough to pay for the mortgage. It is considered a debt. View Service
Individuals and companies with large financial debts that cannot be solved by themselves and need to rely on one of the types of bankruptcy to resolve the economic situation can qualify for bankruptcy. Bankruptcy works best for borrowers who may have some type of income that helps them cover their costs after downloading the corresponding chapter in the case. View Service
When a homeowner decides to stop making mortgage payments, this is called a strategic default. Strategic defaults are a good option when the individuals property is worth less than the mortgage balance, or when the person is no longer able to pay their monthly mortgage payments. View Service
A letter of demand or acceleration is sent by a lender to a homeowner when the homeowner stops paying the mortgage. The lender must send this letter before they can proceed with a foreclosure lawsuit by the total loan amount. View Service
There are several foreclosure options available to homeowners, including short sales, deed in lieu of foreclosure and loan modifications. A qualified attorney can assist you in implementing these options and increase the chances of a successful outcome. View Service
Bankruptcy should never be the first alternative for individuals with a foreclosure. There are other options that can be adopted to prevent the implications of a foreclosure sale. If the mortgage borrower has other debts, then bankruptcy could be a way to use to relieve the homeowner, but this should be the last resort. View Service
No, the debtors are not going to prison for having accounts payable with creditors, unless they have committed a federal crime or fraud. Creditors may only collect debts through the court and ask the judge for a claim against the debtor for a money judgment. Even if the demand is achieved, creditors can seize some of your properties or cancel your checking account, but they cannot get an arrest warrant for debtors. View Service
When you own a house and you pay mortgage monthly, the bank or lender will request you require having an insurance to protect from natural disasters and calamities that can occur. The insurance requirements vary depending on the location of the property. For example if you live in an area susceptible to flooding, you are required to have flood insurance. If you have paid off your mortgage then, you are not requiring carrying insurance anymore. If anything happens to your property you are completely responsible for any damage even if it is provoked by a natural phenomenon. View Service
There are some factors that affect such as location that was previously mentioned, the characteristics of your home including the year that it was constructed, the type of the roof structure, wiring, basement, etc. If you have protective devices such as fire alarm and extinguishers, smoke detectors and burglar alarms can also lower the cost of the insurance. In addition, if you have filed a claim to an insurance company before, your premium could be higher. Finally, a good credit history can lower your home insurance. View Service
No, you need to review all limitations and exclusions of your policy. You will need separate policies to protect for example your car, jewel theft, etc. View Service
As you are not the owner you cannot insure the structure, but you can have a renter's insurance coverage to protect your personal belongings. View Service
The liability portion of the property should cover any injury to a neighbor or visitor who are legally liable for. However, household members are not mostly covered. View Service