Leading Financial and Family Law Attorneys
How to use legal representation to stop foreclosure.
Foreclosure. It is a scary word. You have worked hard to acquire and care for your house and now someone is threatening to take it from you. Let’s talk about how to stop foreclosure. The key to stopping foreclosure is to get help.
Call us if you are facing foreclosure so we can guide you through the different processes and options to prevent foreclosure.
The first step we will take for you is to delay any foreclosure proceedings. Legal action often has the potential to delay foreclosure – but of course every circumstance if different! Do not wait until it is too late to call us.
Another action we can take is to work on a loan workout or a modification. After all, the lender wants their loan repaid – not your house! A loan workout or modification is simply a negotiated agreement between the lender and the borrower to make it possible for you to keep your house. This could involve mortgage modification, which can lower monthly payments, interest rate, principal and reducing or even eliminating fees and penalties.
If you have been treated unfairly (predatory lending) we can help. Predatory lending includes loan flipping, mandatory arbitration, unfair denial of modification and unfair penalties are methods predatory lenders utilize to extract more money from you. Cases like these are where an attorney can really make a difference in the outcome and possibly even stop foreclosure.
Stopping foreclosure is not always possible. The plaintiff, usually the lending bank, most often has the fact on their side. It is relatively easy to prove the borrower is behind on payments! What can be done in this case is to work to delay the foreclosure to give you time to get back on your feet. In order to use this defense we must have a reasonable basis to argue before the court. Injury or illness are appropriate issues to use in a defense against immediate foreclosure.
Delaying foreclosure can buy you much needed time to possibly find a new job or recover from an illness or injury.