Foreclosures And Restructuring Borrowers

 

Individual Borrowers & Homeowners

The attorneys at Iurillo Law Group, P.A. have extensive experience representing individual borrowers and homeowners in mortgage defense litigation in Florida. 

Florida Foreclosure – Individual Borrowers & Homeowners

For most people, the thought of losing their home or defaulting on a loan is one of the most daunting financial challenges they could imagine. It is easy to become overwhelmed and feel isolated like a ship adrift at sea. The attorneys at Iurillo Law Group, P.A. have extensive experience representing individual borrowers and homeowners in mortgage defense litigation throughout Florida. Our attorneys are dedicated to helping you achieve your goals, including keeping your property or surrendering it to the lender. It is important that you act in a timely manner and protect your rights as soon as possible, ideally when you initially experience problems making your payments. Being proactive and developing a strategy early in the process is important to reaching your goals, including keeping your home or having sufficient time to explore foreclosure alternatives, such as a short sale or loan modification prior to the foreclosure sale.

 Our attorneys will work with you to explore the practical and cost-effective options available to you, such as: 

  • Loan modification
  • Loan forbearance
  • Short sale negotiations
  • Deed-in-Lieu of foreclosure
  • Consent to foreclosure
  • Negotiating with lenders to waive deficiencies
  • Filing responses to foreclosure complaints within 20 days from the date of service and raising appropriate defenses
  • Providing representation at mediation
  • Providing representation after the property is sold, if the lender seeks the entry of a deficiency judgment

 We understand that each foreclosure case must be carefully examined to discover the unique issues of the case. Therefore, when you meet with one of our attorneys, we conduct a comprehensive analysis of the facts of your case and the loan documents to formulate a complete plan of action that is best suited to meet your goals. In addition, you can rely on us to continually advise you of your alternatives at the critical junctions in the foreclosure process.

 When defending the foreclosure case or a lender’s effort to obtain or collect a deficiency judgment is appropriate, our attorneys are experienced litigators prepared to engage in tough litigation. We have observed first-hand the abuses of the foreclosure system by some lenders and their counsel seeking to “fast-track” cases over the rights of borrowers. We will aggressively pursue your rights through trial and will effectively represent your interests in court or during negotiations with the lender.

 In some cases, filing a bankruptcy case may be the best strategy. Please review our discussions of Chapter 7 and Chapter 13 bankruptcies for an overview of how bankruptcy may assist you in stopping a foreclosure and possibly saving your home on our Bankruptcy and Insolvency Alternatives page.

 Remember, it is critical that you act immediately and seek legal counsel. Please contact us to schedule an appointment to discuss your alternatives. 

Commercial Borrowers & Guarantors

Iurillo Law Group represents borrowers, including commercial and residential developers, investors, builders, contractors and business owners, and guarantors in complex commercial foreclosure cases. 

Florida Foreclosure – Commercial Borrowers & Guarantors

In today’s economic climate, troubled waters are often encountered despite thorough planning at the launch of a project or investment. When confronted with financial challenges involving a potential foreclosure, it is important to seek skilled legal counsel to help you adjust your sails to get back on course rather than becoming stranded at sea with no port in sight.

Iurillo Law Group, P.A. represents borrowers, including commercial and residential developers, investors, builders, contractors and business owners, and guarantors in complex commercial foreclosure cases. Our collective experience and team approach provides us with the tools to form unique and innovative strategies to meet our clients’ financial goals, or in the alternative, to minimize exposure to deficiency judgments. That process begins with developing a pre-suit foreclosure workout to present to the lender. At the same time, considerations must be made to assure that borrowers and guarantors are not induced into waiving certain rights pre-foreclosure that could devastate their ability to adequately challenge a foreclosure if settlement does not occur.

 If a pre-suit settlement is not possible, many times the foreclosure case can be resolved after the complaint is filed through the alternative dispute resolution process (“ADR”) which is commonly conducted through mediation. Mediation is a voluntary process where the parties of control of the outcome instead of relying on a judge to make that decision for them.

 If ADR is unsuccessful, we are a team of experienced litigators prepared to fight for our clients in court through trial. In response to a foreclosure complaint, we prepare appropriate defenses based on the facts of each case. Many times, once the lender realizes that there are pitfalls and dangers to proceeding with litigation, a settlement can still be achieved during the foreclosure process.

 However, there are times when the parties cannot come to an agreement and further litigation strategies must be considered, including to a trial depending on the strength of the case, a friendly foreclosure or a deed-in-lieu of foreclosure and negotiating a resolution of any potential deficiency judgment. Another alternative may be a bankruptcy filing to force a restructuring of the debt that allows the borrower to retain the property and either continue to operate its business or continue with the development plans for the property.

 Finally, an alternative or companion to the foreclosure process may be a bankruptcy filing. Please review our discussions on the Bankruptcy and Insolvency Alternatives page for an overview of the bankruptcy process, including how a Chapter 11 bankruptcy may assist you in stopping a foreclosure and restructuring the loan. In the alternative, a business Chapter 7 bankruptcy may be a better option for the orderly liquidation of a business, including surrender of the property to the lender.

 In addition, please review the description of the broad range of clients we commonly represent on our Representative Clients page.