Cuevas, Garcia & Torres, P.A.
contact Our Firm Today
Toll free – 877-801-4135

Miami – 305-461-9500

Orlando – 407-992-2251

Thinking ahead may help avoid foreclosure problems

Many Florida property owners are currently facing significant financial challenges. This is not uncommon, as most Floridians go through ups and downs in their personal economic statuses, just like people in other states who own property. While it is true that some situations are worse than others, it is also true that prompt and pertinent action can often help get things back on track before a property is lost to foreclosure.

There are numerous types of bankruptcy, for instance, that prompt an automatic stay in the foreclosure process. In fact, such options also typically prohibit any type of collections litigation. If considering filing for bankruptcy as a debt relief option, however, it is critical to seek clarification of eligibility requirements ahead of time because it is quite possible to qualify for one type of debt relief but not another.

If a property owner's financial problems go unresolved for too long, he or she (or they) may be at risk for losing said property if lenders initiate a forced takeover of ownership. A development company in another state is currently facing such circumstances. The company purchased a building complex and, by the end of August, had turned it into a luxury living complex geared to college students in surrounding areas. Problems arose not long after opening when owners were unable to meet their mortgage payments.

Owners tried to sell the property but were unable to do so. In response to a foreclosure petition recently filed by the lenders, a state supreme court justice ruled that the process may begin for a sale of the 10-building property at auction. Florida property owners who wish to avoid similar outcomes may want to seek immediate guidance from experienced debt relief attorneys to explore any and all solution options that might be available.

No Comments

Leave a comment
Comment Information
The Florida Bar | 1950 American Bar Association DADE County Bar Association | 1916 Orange County Bar Association Coral Gables Bar Association American Immigration Lawyer Association

Contact Us Today. Call 877-801-4135 or complete this form to schedule a consultation with our legal experts.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Offices Conveniently Located in Miami And Orlando
Google+ Facebook

Miami Dadeland Office
7300 North Kendall Drive
Suite 680
Miami, FL 33156

Toll Free: 877-801-4135
Phone: 305-461-9500
Fax: 786-362-7127
Map & Directions

Midtown Miami Office
3401 North Miami Avenue
Suite 209
Miami, FL 33127

Toll Free: 877-801-4135
Phone: 305-461-9500
Fax: 786-362-7127
Map & Directions

Orlando Office
801 North Magnolia Avenue
Suite 221
Orlando, FL 32803

Toll Free: 877-801-4135
Fax: 786-362-7127
Map & Directions

Email This Office