foreclosure defense

Owning a home is part of the American Dream. You've worked hard to make your dream a reality. Unfortunately, a foreclosure can destroy everything you've worked for. Often times, our clients face foreclosure through no fault of their own. Loss of employment, medical conditions, and divorce, can all affect your ability to pay your mortgage. We understand, and we're here for you. 

If you've been sued for foreclosure, it is essential that you contact an experienced attorney as soon as possible. If you fail to respond to the foreclosure complaint within twenty days, the lender will seek a default against you. Once a default is entered, the bank can obtain judgment and sell your property at a public auction.

 

Don't wait. Call us today at (239) 214-6230 for a free in-person consultation.  

 

Foreclosure Defense

 

In 2008, Lee County was at the heart of the foreclosure crisis. Residents of Fort Myers, Cape Coral, Lehigh, and Bonita Springs, suffered from some of the highest rates of foreclosure in the country. Many folks here in Southwest Florida fell victim to the worst economy our country has seen since the Great Depression. 

 

Fortunately, the housing market has recovered, and the rate of foreclosure is down significantly. However, many people are still struggling to make ends meet. Often times, homeowners can’t make mortgage payments through no fault of their own. Loss of employment, medical conditions, and divorce are among the leading factors that lead homeowners to default on their mortgage payment.  If you’ve fallen behind on your mortgage payment, there are certain things you should know. 

 

First, there are several ways to avoid a foreclosure judgment. Servicers (the entity that collects your mortgage payment), are required by Federal law to provide you with information regarding potential loan modification options. If your loan is modified, your loan will be current, and any foreclosure action will be dismissed. In certain circumstances, your monthly payment will be lower, which will allow you to make payments and keep your home. 

 

Even if you don’t qualify for a loan modification, you may be able to qualify for other non-retention options, such as a short sale or deed in lieu of foreclosure. In the short sale scenario, the servicer agrees to accept less than is owed on the mortgage when you sell the property. The difference between what you owe, and what the bank accepts, is then waived (there may be tax implications involved in a short sale). This allows you to avoid a foreclosure judgment, and potentially receive cash incentives from the servicer for agreeing to a short sale. 

Of course, you always have the option of fighting the bank in the foreclosure action. Usually, this involves making sure the bank has the appropriate documentation to foreclose on your property, and challenging the amounts that are due on your loan. If you prevail in the foreclosure action, you may be entitled to recover all of your attorney’s fees and costs from your lender. And, while the foreclosure is pending, you are entitled to stay in your home – regardless of whether the mortgage is being paid. 

 

If you’ve fallen behind on your mortgage payments, or are being sued for foreclosure, you can’t afford to wait. If you’ve been served with a summons, and you fail to respond to the complaint within 20 days, the bank will seek a default against you. Once a default is entered, the bank can obtain judgment, and sell your property at a public auction.