Without goals, and plans to reach them, you are like a ship that has set sail with no destination.

- Fitzhugh Dodson

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.

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