Legal Question in Real Estate Law in Florida

I have a 2nd home in Florida that is underwater (value at $80,000 - owe $115,000). I am past due 5 months with Bank of America. The home needs work. I have tried to offer BAC a short settlement ($50,000 from a relative) and they refused that and refused to take the home in an immediate deed in lieu of. I have emailed CEO Brian Moynihan and begged for assistance. I get absolutely no response except for some canned letter from a low level BAC grunt turning me down.

I want to hire a Florida attorney to negotiate a short settlement. I believe a Florida attorney will get BAC's attention. Any advice?........................George E. Grashoff


Asked on 3/09/11, 10:52 am

1 Answer from Attorneys
William Gwaltney William W. Gwaltney, Attorneys at Law

Hiring a Florida attorney is advisable. There may be more options available to you other than simply walking away. Many times the lenders are not willing to work things out with the borrowers directly and usually are unaware of the laws in each state that govern their actions.

You did not mention where in Florida the property is located, but our firm represents clients in foreclosure and preforeclosure throughout the state.

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Answered on 3/10/11, 10:08 am


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