At Alvarez & Gilbert, PLLC, we represent borrowers and lenders who need advice and guidance regarding loans. Since 1993, the Scottsdale loan workouts lawyers at our firm have been helping individuals and small businesses enforce, negotiate and modify loans. We have the real estate and business experience you need to feel confident in your financial decisions and your future.
Our attorneys have built a reputation statewide for personal and professional legal services. Contact our Phoenix, Arizona, business and real estate attorneys to discuss your legal issues.
Understanding Your Loan Options as a Borrower
Our experienced real estate attorneys can help you understand all of your loan options, including:
- Short sale: One method used by borrowers to stop foreclosure is a short sale. A short sale occurs when you sell your home for less than the amount of your loan. While this method does not allow you to keep your home, it can be useful in removing your mortgage, lessening your debt and avoiding the negative credit impact of a foreclosure.
- Loan modifications: Also known as a loan workout or restructuring, a modification occurs when the debtor negotiates a new payment plan with the lender in order to pay off the debt. We will work with you and your lender to modify the terms of your loan and make the payments affordable.
- Anti-deficiency protection: The anti-deficiency laws in Arizona were designed to protect homeowners from having to pay the deficiency on their loan after a foreclosure sale of your residence. These laws are complex and may vary greatly depending on your specific circumstances. We will help you understand the laws and determine whether you are qualified to avoid paying a deficiency to your lender.
If you are married or getting a divorce, our lawyers can also help you understand your debt under Arizona's community property laws. If your debt is community property, the bank may come after you even if your name is not on the mortgage. We will help you determine if your debt is community property or if it is sole and separate property, and advise on the ramifications of each.
Helping Lenders With Borrowers in Default
Our attorneys represent lenders in cases where the borrower has been falling behind on loan payments. Together, we will explore all of your options, including loan workouts, foreclosures and pursuit of deficiencies.
Hire Our Phoenix, Arizona, Business and Real Estate Lawyers
We have the skills and knowledge necessary to help you with your loans. Our office is conveniently located near Raintree and the Loop 101 in Scottsdale. Contact our business and real estate firm to set up an appointment.
