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Real estate disputes and your mortgage

Many of our South Florida readers may believe that real estate disputes can only occur between two parties to a deal: the buyer and the seller. However, it is not unheard of for buyers to have a real estate dispute with a mortgage lender after the transaction for the property has been completed.

There are a number of situations in which a borrower may come to have adverse interests to a lender. For instance, if the borrower is seeking a loan modification of the mortgage, the two sides may get into a contract dispute over the terms under which the borrower took out the loan. Or, if a borrower is in an even tougher financial situation and is considering a short sale, the lender may not be amenable to such a disposition of the property.

Of course, the greatest possibility for a real estate dispute between a borrower and a lender is in the lead up to a possible foreclosure action. The borrower may be pleading with the lender for a temporarily lower payment, or may be attempting to show the lender that tough financial times are soon to turn around for the better, and the lender may be hearing none of it. The lender may make the determination, based on a number of different factors, that foreclosure is their preferred option. If that is the determination, despite the borrower's best efforts, the two sides could start to drift toward potential litigation.

South Florida residents who finance the purchase of a piece of property through a lender know that their financial circumstances can change over time. There may be a point when the borrower needs to approach the lender about potentially making some changes. That could lead to a real estate dispute. Homeowners who find themselves in these types of situations may be interested in visiting our website.

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