Considering Walking Away From Your Home?

Strategic Default

In the current economic climate, many investors and homeowners have lost a great deal of value on their home or investment property. When the mortgage on a home, whether primary residence or investment property, becomes "upside down" or "underwater" it presents a difficult financial decision for the owner. However, there are strategies to navigate this financial difficulty and assist the owner in mitigating further loss.

Strategic default is when a borrower ceases payment on a mortgage, even though they can still afford the payment on the property. While it is a challenging decision to make, a strategic default can be the best financial decision given a certain set of circumstances. Before making the decision to do a strategic default, it is critical that you have a thorough credit, financial, and legal analysis performed, to ensure that it is the best option.

At the Carman Law Firm, P.A. we believe it is our responsibility to provide you the tools necessary to assess your situation and make a decision that is best for your future. Upon retaining our team, we will set up a plan that includes asset protection, reducing or eliminating any deficiency on the property and repairing your credit report to boost your credit rating as quickly as possible.

All steps of the strategic default will be completed in our office and our experienced team will be available to advise you throughout the process. Please call for a free consultation to learn more about a strategic default and whether or not this is the best economic decision for you and your family.

Contact a Florida Foreclosure Defense Attorney today.