Law Office of Simmons & Purdy

We understand what homeowners are going through, as alas, it is a very common problem these days. We would be happy to meet with anyone wishing to consult about the various issues and potential solutions which might work for their individual situations.  In most cases we are able to find a good working solution that meets the homeowner’s needs. 

During the Consultation

We will discuss each property owned with an eye towards saving the property, if possible and desirable.  We can quickly determine if your loan documents contain any viable legal rights for you to pursue.

We discuss loan modifications and can crunch the numbers to see if it would be likely that you could obtain on. We can estimate if such a loan modification would be affordable.  WE DO NOT DO LOAN MODIFICATIONS but will refer you to a “HUD approved non-profit housing agency” who can assist you in obtaining a loan modification at no charge. Please DO NOT pay anyone in advance to modify your loan under ANY circumstances.   

We will discuss the fair market value of your property. We will discuss your second mortgage - if you have one - and the effect on that loan if you are "underwater".  We will discuss the various options available regarding your second mortgage.

We might also look at bankruptcy to see if that might help your situation. We are not bankruptcy attorneys but we can generally figure out if it might be a good idea for you to consult with one.  We can usually recommend a good one for you to meet with.  See Bill Purdy’s Message about Bankruptcy and its usefulness in this area. 

If we determine that you might not be able to save your home, we will look at what the various options are. Those options include: short sale, deed in lieu, and foreclosure. We would discuss what the benefits and consequences for each option might in your particular situation. 

We will also look at whether you will owe anyone anything as a result of your situation. We will also review the potential tax consequences and help to determine your best way to avoid or minimize any tax. 

See Consultation Rates.

Information Required at Time of Consultation:

To answer all the questions we will need to ask you the following:

• When did you purchase the home and what was the purchase amount?
• What was the down-payment and what was/were your original loan amount(s)?
• Did you ever refinance and if so give us the date and amount of the most recent refinance.  
• What is your monthly take-home and how much are you paying for property taxes, homeowners insurance and homeowner association dues, if applicable.

If you or someone you know would like to make an appointment, please feel free to call our office:

831-464-6884

We do these appointments both in person and over the phone, whatever suits you best.