PREVENTING A FORECLOSURE SALE
When a homeowner gets into financial trouble, it can become increasingly difficult to keep up with mortgage payments, property taxes, or even homeowners association fees.
Unfortunately, Lenders and Lienholders have very little sympathy for a person that has fallen on hard times, regardless of the reason.
Eventually, they will initiate foreclosure proceedings to recover their property. This can start with a notice of default and end up with a foreclosure sale date, where you lose the property.
The good news, is there are a number of options available.
If a foreclosure sale date has been scheduled, it can often be delayed or cancelled altogether for many months or longer.
There are also several ways where a Homeowner, Beneficiary, or an Investor can avoid a foreclosure sale date from occurring in the first place.
Foreclosure Defense and Loss Mitigation Options Include:
• Mounting a Legal Challenge to the Foreclosure
• File a Temporary Restraining Order (TRO) or Seek a Permanent Injunction
• Filing For Bankruptcy Protection
• Filing A Predatory Mortgage Lawsuit
• Short Sale (If You Are Upside Down)
• Strategic Default
• Loan Modification
• A Repayment Plan
• Deed in Lieu of Foreclosure
• Applying For a Forbearance Agreement
• Reinstatement of the Mortgage
If your lender has already initiated foreclosure proceedings on your property or has scheduled a trustee or sheriff sale date, we may be able to postpone or cancel the sale of your home through a process known as a legal challenge or a trustee verification.
This is a strategy in which the lender or their law firm’s right to sell your home is challenged using cause or leverage. The proces starts with a thorough review of your loan and foreclosure history with the goal of identifying a variety of lending and foreclosure law violations. These violations are built into a legal demand or challenge and subsequently filed or served with the lender's law firm or trustee company.
Challenges can stop a foreclosure, trustee, or sheriff sale date for many months. This can allow you to remain in your home for a longer period of time while working on other options.
A Temporary Restraining Order (TRO) or even a Permanent Injunction Against the Foreclosure can also be obtained if the lender:
• Violated Truth in Lending Laws
• Engaged in Wrongful Foreclosure
• Failed to Follow Applicable Local, State, and/or Federal Foreclosure Statutes
• Illegally Used the Fair Debt Collection Procedures Ac t
• Engaged in Predatory Mortgage Lending Activity
We will make sure that all of your options are fully evaluated so that you can make the best decision possible regarding your home.
Our partner firm will also be prepared to take action against the lender for any violations of lending laws and procedures.
Please schedule a free, no obligation consultation with one of our specialists if you are in danger of losing your home.
Call Us Toll Free: (888) 340-6698
