The Reality of Foreclosures

by | Oct 4, 2012 | General

When you see news about a foreclosure in Royal Palm Beach, you might not know what exactly has occurred. There is a general knowledge that it has to do with banks, usually has something to do with a house, and isn’t a good thing. Sometimes attorneys (specifically foreclosure attorneys) are involved and it’s generally not good news. No home owner wants to go into foreclosure on their home, it’s never a happy moment, and often homeowners and business owners will seek other legal avenues to avoid foreclosure. Chapter 13 bankruptcy for example can sometimes help a homeowner avoid foreclosure on their property. However, when news about a Royal Palm Beach foreclosure hits, we often perceive of it in narrative terms of either an irresponsible debtor or a predatory lender. Most often, even in the messiest of cases where teams of foreclosure attorneys are brought in there is no true villain in these cases.

Foreclosure is when a lender (typically a bank) attempts to recoup the money it’s lent by seizing a property to settle the potential debt amount. When someone goes into bankruptcy it’s not always guaranteed that they’ll be able to avoid foreclosure, a foreclosure attorney in Royal Palm Beach is typically hired to make the process as beneficial as possible. It’s not going to come out perfect, when someone’s facing extreme debt no lawyer, no matter how talented will be able to make it as if the debt had never truly existed, but a skilled bankruptcy or foreclosure attorney can help a debtor avoid the worst parts of the process.

Foreclosure specifically happens in cases of mortgages where a property is offered as security on a debt. The fact that the property had been security on the debt is how the bank can justify taking the property in the process of debt redemption. Once again, a foreclosure or bankruptcy is never the first option or choice for anyone, but when faced with foreclosure, sometimes bankruptcy can be the best option. Legal representation is often advisable if not necessary to survive the process with as many assets preserved as possible.

When a house or business goes into foreclosure in Royal Palm Beach, it simply means that someone has fallen behind on debt payments. All things told the current economic uncertainty has hurt a great many businesses and forced a higher rate of foreclosures and bankruptcies. Foreclosures attorneys have benefited in the sense that they’ve had more business, but the service they provide is far from predatory. Generally speaking, in such situations, there is no true villain as everyone involved is simply trying to achieve their most favorable outcome. The debtor may enter bankruptcy to give themselves a chance to avoid a foreclosure, and the bank or lender is simply trying to protect themselves against losses, the foreclosure attorney in Royal Palm Beach obviously has a bottom line in mind, but they are also attempting to help their clients. Attorneys and banks often get a bad rap in such proceedings, but in reality no one is acting with remotely close to villainous intent.

When the process of foreclosure has begun it’s hard to maintain much hope, however, with a dedicated foreclosure attorney the process can be ameliorated to some extent. Sean I. Koplow is a bankruptcy and foreclosure attorney in Royal Palm Beach – No one hopes to end up in Chapter 13 Bankruptcy, but sometimes it’s the best course of action. In Royal Palm Beach those seeking legal support often turn to Sean I. Koplow P.A. a bankruptcy attorney with 15 years of experience. Koplow Law can be found online at or reached via telephone at 561-642-3000

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