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Hi. I’m Steve Kramer of the TK Law Firm. I’m a Florida foreclosure attorney. And today we’re going to be talking about the 3 things you need to know about foreclosures. The first thing you need to know is that there are defenses to foreclosure. There are a ton of defenses you can raise in a foreclosure case. The second thing you need to know that there are a variety of ways to avoid owing any money at the end of your foreclosure. The first way you can do that is you know about a short sale probably. That’s where you sell the property for less than it’s worth and the bank agrees to walk away. Now the important thing here is if the bank doesn’t agree to waive the deficiency against you then there’s no point doing a short sale because the house that you’re in right now is your leverage. The second thing you need to know is that there is a thing called consent judgment. That is when you consent to the judgment in exchange for the bank waiving the deficiency against you. Now if the bank waives the deficiency then you’re not going to owe any money at the end of the case and ultimately if you’re trying to get out of this case without owing money, that’s what you want. The third option you’ve got to avoid owing dollars at the end of a foreclosure case is a deed in lieu. And that is literally where you give a deed to the bank in lieu of the foreclosure. It ends the foreclosure process and sometimes banks will even pay you to do that, just as a nuisance go away kind of value. And the fourth thing you can do is if you’ve got a good attorney you can successfully defend your foreclosure. You can raise some of those defenses we talked about before like fraud, unclean hands, a variety of defenses that are out there. And the third thing you really need to know about foreclosures is that you don’t really need to file a bankruptcy. If you talk to a bankruptcy attorney out there, they’re going to tell you to file a bankruptcy. Just like if you go to see a surgeon sometimes they’re apt to cut, a bankruptcy attorney is apt to file bankruptcy. Now our firm does bankruptcy but we don’t believe bankruptcy is appropriate in every foreclosure case. And a lot of times there are ways out without the collateral damage that bankruptcies bring to the table. Why am I telling you this? Because if you’re watching this video, you probably have questions about foreclosures and I deal with this stuff every day. I’d be glad to talk to you any time that you want; you can call me at the number below. Also, if you’re watching this video Youtube or Facebook, go ahead and click the “Like” button below. This way your friends and family can get the benefit of this information. I’m Steve Kramer. Thanks for watching.
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