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Are You Facing Foreclosure? We Can Help!
The Law Office of Charles P. Castellon, P.A. is dedicated to helping our clients defend their homes against the threat of foreclosure. We work with homeowners and investors throughout the State of Florida. With more than 25 years of experience, our team of attorneys, paralegals and legal assistants are ready to help you through every aspect of your foreclosure crisis. To learn more about your rights, schedule a consultation today.
Whether you need a loan modification, short sale, reinstatement of mortgage or deed in lieu of foreclosure we will defend your case, protect your rights and pursue the best possible solution. We also work hard to obtain deficiency waivers so the lender won’t pursue you for a shortfall.
The Law Office of Charles P. Castellon has represented hundreds of clients in foreclosure defense cases. It doesn’t matter what stage of the foreclosure process you are in. Whether you need advice before you fall behind on your payments or need representation in court, we can help you keep your home or pursue a solid exit strategy.
Strategic default
Strategic default is plagued with serious potential consequences. For those who simply lack the resources to continue paying, it’s an unavoidable decision. For borrowers who have the means to pay but are considering default, it’s necessary to carefully evaluate all the options and consequences with the advice of an attorney and accountant. Strategic default is the right choice for many, but not all borrowers and each case is unique. This discussion is not meant to simply advise borrowers to stop paying. A review of all the circumstances of any given mortgage, however, may lead to a sound conclusion that defaulting is the best, or rather, “least worst” option available for a great many borrowers engaging in damage control.
More than 15.2 million mortgages - 32.2% of all US mortgages - are underwater
According to recent studies, almost a third of all US home mortgages are underwater. For those unfamiliar with the term, it means that the mortgage amount owed on the home is worth more than the home is worth. Approximately 15.2 million homes are now in a negative equity position, which represents about 32.2% of all home loans. Negative equity is a strong cause of foreclosure according to Mark Fleming, chief economist at First American CoreLogic.
Which States are Underwater?
Asset Protection
The attorneys and legal professionals that work with the law offices of Charles P. Castellon are experienced with planning a variety of asset protection strategies for small businesses and individuals.
We use a wide variety of legal, proper techniques available under Florida and federal laws to place assets beyond the reach of creditors. With proper advance planning and effective use of the legal tools at our disposal, there is never a need to risk civil or criminal liability to achieve our clients’ asset protection go
Our asset protection strategies include, holding assets in limited liability companies, property held jointly with a spouse, and domestic, and offshore trusts. Additionally, we advise our clients to take advantage of state and federal laws that make certain assets inaccessible to creditor claims. Such laws protect salaries from garnishment and shield retirement accounts such as 401K, IRA, prepaid college plans and 529 accounts from creditor claims.
With the availability of such a wide variety of asset protection planning strategies and techniques, our firm can effectively help you keep what you own without any risk of violating the law. There are many “gray areas” and matters subject to interpretation when creating asset protection planning strategies. The attorneys and legal professionals that work with Charles P. Castellon understand the nuances and keep up with the legal developments in this area. Our clients receive all the information necessary to make calculated decisions.
With this in mind, the attorneys and legal professionals that work with the law offices of Charles P. Castellon can tailor asset protection strategies to the client’s individual risk tolerance level and comfort while never allowing our clients to cross the line of violating the law.
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