Florida Foreclosure Defense Lawyers

What is a Subprime Loan?

A subprime loan may be a valuable option for certain borrowers who have limited or poor credit histories. A subprime loan will carry a higher interest rate than a prime loan in order to compensate for the increased risk.

In the past several years, many mortgages throughout Florida and the rest of the U.S. were made to subprime borrowers. When the housing market prices began to decrease in 2006 and 2007, mortgage delinquencies began to soar and many of those borrowers with subprime loans faced foreclosure.

Foreclosure Defense & Subprime Loans in Florida

If you are facing foreclosure on your home and you have a subprime loan, a Florida foreclosure lawyer at our firm can help. At Carman Law Firm, PA, our lawyers are dedicated to helping our clients in the face of the most serious financial situations. We want to help ensure that you do not lose your home or have a foreclosure on your credit. A lawyer at our firm can review your situation and discuss your goals with you in order to help you seek an alternative to foreclosure that will benefit you the most.

Unfortunately, subprime borrowers may often be the target of predatory lending practices. Pressured into accepting mortgages and loans that they could not really afford, these borrowers then ended up going into default and facing foreclosure. Some subprime loans may have been obtained due to misrepresentation of income, credit history or assets so a borrower that was able to get a loan that he or she should not have qualified for.

Florida Foreclosure Attorney

The attorneys at Carman Law Firm, PA have specific experience in dealing with homeowners with subprime loans in Florida. We can evaluate your situation and help you understand your options so you can make a well-informed decision that will help you most in the long run. You do not have to lose your home – an attorney at our firm can help.

Contact a Florida foreclosure defense attorney at Carman Law Firm, PA today!