The rates of foreclosures in the nation and in South Florida are at the highest levels in history, partly because loans have been made to people regardless of their ability to repay the loan according to its terms. People are losing their homes and having their credit destroyed. Khani & Auerbach may be able to assist you during this time of distress.
The attorneys at Khani & Auerbach will advise you of your options in order to rescue you from financial devastation. Depending on your unique set of facts, we can usually answer, defend and stop the foreclosure action, at least long enough to explore the possibility of a loan modification agreement. This is when the firm negotiates with the bank in an attempt to re-negotiate the terms of the defaulted loan. We put forth our best efforts to lower monthly payments, adjust the interest rate, lengthen the term of the loan or adjust the loan in some other way to allow you the ability to pay and to avoid foreclosure.
Refinancing your loan may be another option available to you. At Khani & Auerbach, we can also assist you in the refinance of your property. This can happen when conditions allow for you to obtain another loan which pays off the defaulted loan. We are here to help you understand the terms of your loan and to make certain that you obtain a loan that is in your best interests.
Finally, there are some situations where conducting a Short Sale is an option. Our firm has experience working with parties to a Short Sale. This situation arises when you want or have to sell the property, but your debt is higher than what you can obtain on the market for the property and the bank will not clear title until the debt is paid in full. In a short sale, the bank agrees to satisfy the mortgage, despite the fact they do not receive the full amount due under the loan. At Khani & Auerbach we will advise you of your rights, obligation and any potential pitfalls before you complete your short sale.