Wednesday, March 2, 2011

What does Foreclosure Really Mean?

Most of us have become familiar with the term Foreclosure. However, most homeowners who are being foreclosed don't know what that really means.

A simplified definition would be  best described as: a time when a borrower cannot repay a loan and the lender seeks to sell the property. In Florida  most foreclosure cases are for two reasons: for title and debt.

The lender not only has the right to collect the debt that was owed to them but they are also entitled to clear the title and take away the interest that any party may have on title for this property. Most homeowners get overwhelmed and pretend that this foreclosure action is not against them. However,  the moment you receive a foreclosure summons you should immediately seek legal counsel to learn what your legal rights are. Each case is unique as well. It is important to know that your attorney has listened to all of the facts before giving you your options. At the Alvarez law firm we assist our clients through these difficult times.  It is our job to help you understand the law.

Please contact our office for a free 30 min consultation regarding foreclosure defense and alternatives.  


Rachel Alvarez
The Alvarez Law Firm A Professional Association
~Remember, the best compliment we can receive is referring us to your friends and family.~

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