Mortgage Foreclosure Defense is a serious matter. If you find yourself in a situation where your mortgage lender is threatening, or has filed a foreclosure action against you, call us immediately. You do not have time to waste.
You may not realize it, but having legal representation can prolong the process of foreclosure greatly, allowing you to stay in your home for more than a year from the filing of the lawsuit. This extra time is important because it allows you the financial and emotional space to figure out your next move.
Defending yourself is also important because of the consequences a foreclosure judgment could have. In addition to the loss of the home and any equity you’ve accumulated, you’re also facing a personal judgment amount equal to the amount of the outstanding debt. This will heavily impact your credit for years to come.
Here are the typical steps in a foreclosure case:
- Filing of Foreclosure
- Personal Service of Summons
- Foreclosure Judgment and Order of Sale
- Reinstatement Period Expires (90 days after personal service)
- Redemption Period Expires (7 months after personal service or 3 months after judgment, whichever is later)
- Foreclosure Sale
- Foreclosure Sale Confirmed
- Right to Possession Expires (30 days after foreclosure sale confirmed)
- Eviction by Sheriff of Named Parties
- Recording of Foreclosure Deed
Regardless of where you are in the process, call us to discuss your options. You still do have options.
We have years of experience working with major banks to resolve the default so that you can stay in your home. There are a number of tools available, some of which you may not be aware of. In addition, recent Congressional actions have changed the rules, allowing banks and homeowners more options to modify the loan.