Florida Foreclosure defense attorney and legal blogger, Roy Oppenheim, talks about how to pay off second mortgages at a deeply discounted rate.
Florida banks have come to the realization that equity lines of credit are so underwater that they are actually unsecured debt, no different to credit card obligations.
Florida banks have been hiring people from their credit card negotiation division to their negotiating side to negotiate the reductions on second mortgages.
Roy Oppenheim states that when you fall into default, Florida banks offer you to pay off the entire debt at a discounted rate.
If you want to stay in your Florida house and you want to do a modification of your second mortgage it is worth considering paying off the entire second mortgage at a discounted rate even if it means borrowing money from somewhere else.
Roy Oppenheim has been able to get his Florida clients a reduction of up to 25% on their second mortgages.
In a series of short clips Roy Oppenheim will be covering important topics concerning Florida foreclosure defense and what you can do to better manage today's state of the real estate market.
Roy Oppenheim will be covering a variety of topics including the following:
- Florida Short Sales
- Florida Strategic Default
- The State of Florida's Real Estate Market
- Florida Foreclosure Defense
- Florida Deficiency Judgments
- Florida Second Mortgages
Subscribe to Roy Oppenheim's channel to partake in the Summer School Series and gain knowledgeable information on Foreclosure Defense as it applies not only to Florida but also the rest of the United States.