Ayala is proud to announce that we have settled two foreclosure cases filed against our clients. The case involved a foreclosure action filed by the second mortgage holder of our client’s $6-million residence.
The client had been trying to refinance the loan against the second mortgage plaintiff, but delays in payoff information and the bank’s questionable tactics resulted in the client losing a deal that would have paid off the second mortgage plaintiff. Our team countersued the foreclosure case, alleging unfair trading practices against the bank, among other things.
During the lawsuit, the client was able to obtain, after a 4-month monumental effort, a $4-million loan, which would replace both the first and second lender, thereby settling both foreclosure actions.
The transaction was a $4-million, double-closing deal in which parties had to negotiate the specific amount of the lien’s priority in the interim, which led to arduous and tense negotiations between the banks, brokers, closing agents, and Ayala’s clients.
As stated by attorney Eduardo A. Maura, “We’re very happy with the settlement. It was an arduous transaction. So many things had to go right and so many people had to agree on so many things. In the end, we were able to achieve that, and in turn, shut down the litigation cases against our clients.”
For more information on real estate litigation and transactions, contact one of our experienced attorneys in Miami at 305-570-2208.
You can also contact our team directly at: arianna@ayalalawpa.com
Schedule a case evaluation online here.
[The opinions in this blog are not intended to be legal advice. You should consult with an attorney about the particulars of your case].
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