Non-Profit Leaseback Program For Short Sales Arrives in Florida

ORLANDO, FL, March 07, 2013

Little-known changes to Federal guidelines have opened the door for an innovative Non-Profit Leaseback program that will allow struggling Florida homeowners to stay in their home after a short sale and avoid foreclosure. In a first of its kind program for Florida, the Mascia Law Firm has partnered with non-profit Love Made Visible to offer the program to qualified homeowners. Through the Non-Profit Lease Back Program, a homeowner can complete a short sale of their home to the Non-Profit, escape liability for the mortgage debt, and then lease the property from the Non-Profit at market rate. The Non-Profit then provides the homeowner with credit and financial counseling during the rental term so they can rebuild their credit and repurchase it at a later date.

Attorney Paul Mascia, CEO of the Mascia Law Firm, explains, "The Non-Profit Lease Back Program is a fantastic solution for qualifying homeowners. They can get out from under crushing mortgage debt - without having to move. They will also receive counseling from a charity that will help them rebuild their financial future and possibly repurchase the home."

Non-Profit Lease Back Program participants must meet qualifying criteria, and not every bank participates in the program. Mascia advises, "The Non-Profit Lease Back Program is for families that have experienced a financial hardship. It's not for investors that made an unfortunate business decision." He also cautions that homeowners should "beware of any group that asks for money or promises a guaranteed outcome. Keep your hand on your wallet and only work with a firm doesn't ask for money at any stage in the process". With at least one major lender signing on to the program Attorney Paul Mascia expects more to follow, "We expect additional servicers and investors to come onboard as the program evolves. The Non-Profit Leaseback program is an original and innovative way that we can take a pro-active role in the recovery of the local housing markets, the same markets we live in".

As the country continues to heal from the worst recession since the Great Depression, the Non-Profit Lease Back program provides a glimmer of hope for struggling homeowners. It also gives banks an opportunity to help hardworking families at a time when their public image could use a makeover.

The Mascia Law Firm, founded in Orlando, Florida in 2008 by attorney Paul N. Mascia, is a full-service law firm specializing in legal solutions for individuals and businesses negatively impacted by the recent global financial crisis. They have served clients in 35 states and multiple countries with an unparalleled devotion to customer satisfaction and community transformation.

If you would like more information about this topic, or to schedule an interview with Attorney Paul Mascia, please call Shane Hayes at 321/281-3488 x121 or email Shane at pr@mascialawfirm.com.

Website: www.mascialawfirm.com