Foreign Investment Property

Property is always a great investment. Unless, of course, the economy falls apart and housing prices plummet. If you bought land in the United States as a foreign investment property, your investment has likely suffered tremendously over the last few years. Save yourself from increasing debt or foreign foreclosure by working with one of our foreclosure lawyers at SunCoast Law. At SunCoast Law, we enjoy working with foreign nationals and can help you protect your interests in the United States and abroad.If you would like financial advice because you own a foreign investment property, call our firm today at (844) 330-2727 or contact SunCoast Law online and schedule a free consultation. Once you set up an initial consultation, you will have the chance to discuss your U.S. property investments with an attorney who has a background in tax, residential foreclosure, commercial foreclosure or bankruptcy law. There are a number of options available to help you minimize your losses on a foreign investment property. We can help you determine which option makes the most sense for you after carefully reviewing your investments, property value, and current debt. Foreign Loan Modification Sometimes the solution to maintaining an investment property is negotiating a mortgage loan modification with your lender. We can work with your American lender to negotiate new loan terms that lead to lower monthly payments. By doing this, we can ease your financial stress and help you avoid foreclosure on your foreign property. Forbearance If you have fallen behind on your mortgage payments, you’ll likely want to work toward reinstatement. If you know that your finances will improve soon through an inheritance, a new job, or some other good fortune, we can help you suspend your mortgage payments for a set period of time. This is called forbearance and allows you to catch up on your payments and avoid foreclosure. If forbearance is the right option for you, our team can help you negotiate favorable terms with your U.S. lender.

Strategic Default

In some cases, the best way to cut your losses is to simply walk away from your foreign investment property. This decision should not be made lightly and is only advisable if what you owe on your property exceeds its worth. Our legal team can help you determine if a strategic default is a wise option for you. This kind of voluntary foreclosure has been utilized quite often in recent years and may be your best option.

Real Estate Broker Fraud

During our years of service, we have heard many unfortunate tales of foreign nationals becoming victims of real estate fraud. The reason investors residing outside of the U.S. become real estate fraud victims is because they are not here to oversee all transactions. They may not understand contractual terms, get to see the properties they are investing in, or may work with an unlicensed broker that is out to cause them harm. Sometimes a lender will work with you to create a repayment plan. With a repayment plan you pay off a portion of what you owe in addition to your regular monthly mortgage payment. Eventually, you will catch up on the past due payments and you will be current on your mortgage but you must make consistent and, timely payments. If you have been the victim of a fraudulent realtor, know that you have legal options and can protect yourself from further damages by contacting our law office. Once you contact our team, we will take the time to understand your unique circumstances and advise you of your options. Then we will take active measures to help you recover from fraud, such as repairing your U.S. credit report if it is damaged or filing a civil suit against the realtor that caused you harm. To learn more about the services SunCoast Law has to offer foreign nationals, call our office today at (844) 330-2727 or contact SunCoast Law online.