Worried About Foreclosure Deficiency?

Orlando Debt Relief Attorneys Who Think Long Term and Find Real Solutions

For many thousands of people in central Florida, homes that seemed like “can’t lose” investments just a few years ago have become sources of extreme financial stress in today’s market. Knowing that you owe tens of thousands more than your home’s current market value can make it feel as if there are no viable options for getting back on track financially.

Many Orlando area homeowners are in a difficult quandary, facing the choice between doing everything possible to save a house from foreclosure and walking away from what has become an unsound investment. Most have loan arrearages or second mortgages that foreclosure or a short sale will not eliminate, making a financially crippling foreclosure deficiency a critical concern whichever path is chosen.

Addressing Foreclosure Deficiency as Part of Your Overall Plan

Our Orlando foreclosure defense and bankruptcy lawyers know this dilemma well, and our work for our clients is focused on finding ways to eliminate as much debt as possible. We strive to prevent any unpleasant surprises and execute solutions that truly enable a fresh start. Consequently, we address any possible foreclosure deficiency as part of the debt relief counsel we give each person we serve.

Using Bankruptcy to Avoid Mortgage Deficiency: Does It Work?

You do not have to wait for a judgment against you to wipe out a foreclosure deficiency through bankruptcy. If you have already had a judgment entered, bankruptcy may be the best solution at that point as well. Although it is a big decision that requires careful evaluation, many people find that filing personal bankruptcy is the best way to:

  • Eliminate a second mortgage no longer supported by the market value of the home — through lien stripping as part of a Chapter 13 filing
  • Compel negotiation of a loan modification or approval for a short sale on terms that eliminate responsibility for a foreclosure deficiency
  • Clear other debts permanently and reliably in order to maximize resources available for living expenses

Explore Your Options in a Free Consultation

To work with a reputable law firm and receive personal attention from professionals who care about your financial future, please schedule a consultation by calling 407-834-0090.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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