Saving Investment Properties From Foreclosure

In more than 40 years of combined experience, the bankruptcy and real estate lawyers of Nowack & Olson have helped thousands of people in Florida resolve their financial concerns and keep the property they care about.

Start breathing easy today by calling us at 888-813-4737. We maintain four office locations in Fort Lauderdale, Miami, Boca Raton and Jupiter for the convenience of our clients.

You Have Options If You Are Underwater On An Investment Property

These days, it is fairly common for an investment property to be worth less than the mortgage used to buy it. It is important to handle this situation carefully because it can have implications for your ownership of the property, the amount of debt you owe and your tax liability.

You may be pressured to short sell the property to get rid of it. However, that can result in significant tax liability. In addition, if the sale does not cover the entire deficiency, you may still be on the hook for payments.

Chapter 13 bankruptcy may provide the best option for property owners. Often, you can reduce the mortgage to the actual value of the property, and then integrate it into your repayment plan. This ensures that you are not paying more than the property is worth, and that the lender cannot take action to collect the debt or remove you from the property outside your bankruptcy plan.

We're Here To Help Now – Contact Nowack & Olson

Whether you are already in foreclosure, or see the signs that it may become inevitable, experienced legal counsel can always help you assess your situation and take any appropriate action in or out of court.

Please contact us online or call 888-813-4737 to speak with one of our respected investment property and foreclosure defense attorneys in a free, 60-minute consultation. Se habla español.