Representing Florida Lenders and Servicers
When you issue a mortgage or other loan, you expect to be repaid over time. Whether due to a change in circumstance, poor financial planning, or other cause, many borrowers across the State of Florida find themselves unwilling or unable to pay. When you hold a debt in arrears, you have many options to pursue in seeking partial or full recovery of what you are owed. Maximizing your recovery requires a nuanced understanding of the avenues before you, as well as a thorough knowledge of the laws, regulations, and procedures that apply to collection and default services.
If you represent a mortgage lender, investor, financial service provider, landlord, business owner, or other party with an account in need of recovery, the attorneys at Gilbert Garcia Group are ready to help you collect what you are owed. Our collection and default services legal team is well-versed in Florida’s debt collection and default rules, and we have decades of experience pursuing civil litigation on behalf of all manner of businesses and individuals across the state. The experienced and effective default services and debt collection team at Gilbert Garcia Group is ready to speak with you about recovering your debt today.
Experienced Collection and Default Services Lawyers Helping You Explore Your Options for Recovery
The real estate law attorneys at Gilbert Garcia Group have spent decades learning the ins and outs of Florida real estate, foreclosure, and debt collection laws and practices. We represent lenders, loan service providers, landlords, and all other parties seeking to recoup as much of an outstanding debt as possible. If you hold a debt in default, our collection and default services legal team will work with you to pursue the resolution strategy that best suits your needs, including:
- Deed in lieu of foreclosure. If the borrower and the lender agree that the borrower cannot continue with mortgage payments, the parties may find it mutually beneficial for the borrower to transfer all interest in the real property to the lender in place of foreclosure proceedings. The process offers a quicker, easier, and less notorious alternative to a foreclosure sale, freeing the borrower of their debt (with more limited effect on their credit) while allowing the lender to sell the property and recover what they are owed.
- Forbearance agreement. If you believe the borrower will overcome a temporary hardship and find themselves financially stable in the future, a mortgage forbearance agreement may help all parties. We’ll help you analyze the value of the property, the value of the loan, and the financial circumstance of the borrower to determine whether temporary relief from payment on the mortgage may allow the mortgage to continue in a healthier fashion shortly down the line.
- Loan modification. While recovering the full value of a loan at current terms is ideal, should the property itself have dropped in value and the prospect of a full recovery appear out of reach, a loan modification may be appropriate. By offering reduced monthly premiums, altered interest rates, or a reduced principal balance, you may be able to recover more than even a foreclosure sale would provide.
- Waiver of deficiency with an agreed judgment. When the proceeds from a foreclosure sale fail to cover the outstanding amounts on a mortgage, Florida lenders can seek a deficiency judgment against the borrower to recover the remainder. Mortgage lenders may be able to obtain an agreed-upon judgment without the need for a contested foreclosure by offering a deficiency waiver as an incentive, allowing the borrower to be free from concern over a deficiency suit following foreclosure.
- Cash-for-keys. Following foreclosure or notice of eviction, should a borrower or renter remain on the premises, lenders and landlords may find that a “cash-for-keys” arrangement can speed the process and avoid unnecessary legal proceedings. Our savvy foreclosure and default attorneys will work with you to evaluate your property and the circumstances of the borrower or renter to determine whether offering a financial incentive to vacate will save you money, time, and hassle.
- Foreclosure sale. Should other options fail, Florida mortgage lenders can pursue a judicial foreclosure and sale of the mortgaged property. Our professional Tampa foreclosure attorneys have years of experience fielding Florida foreclosures. Our foreclosure and civil litigation team will ensure that all appropriate boxes are ticked and procedures followed to ensure a fast, efficient foreclosure and sale without inadvertently clouding title or otherwise harming your interests.
Call a Seasoned Default Services Lawyer for Help Resolving a Defaulted Florida Loan
For banks, loan servicers, or other lenders dealing with a mortgage or other loan in arrears, it’s important to resolve the situation efficiently, thoroughly, and within the confines of complex Florida foreclosure law. Our default services law firm understands the complexities of lending and loan servicing, and we have decades of experience handling all aspects of Florida real estate law. Reach out to one of our knowledgeable default services lawyers today to discuss your matter. Call Gilbert Garcia Group, P.A. to learn more about how we assist lenders across Florida with foreclosure and other default services.