In a judicial foreclosure state, mortgage lenders MUST follow the judicial foreclosure process. This process begins when the bank/lender files a lawsuit against the borrower, in the specific county Circuit Court where the property is located. Shortly after the lawsuit is filed with the Clerk of Court, the home owner will likely be served with a Summons & Complaint.
Depending on your states individual regulations, you only have a certain amount of time to respond to the Complaint in some fashion, which may include a Motion to Dismiss, Answer, Affirmative Defenses, and/or Counterclaim. Immediately after receiving service of the Summons and Complaint you need to consult with an attorney in order to formulate an appropriate legal strategy and file the necessary response. At some point during the foreclosure litigation, mediation may be set where a representative of your lender, yourself, and your counsel will have the opportunity to discuss an amicable resolution which could include a loan modification, FLEX Modification, Deed-In-Lieu of foreclosure, reinstatement of the loan or other applicable options.
PLEASE NOTE: Not all states follow the above process. Your property may be located in a non-judicial foreclosure state which could expedite the process of losing your home.
Losing your home to foreclosure is anyone's worst nightmare. The repercussions can be huge and alarming on both the social and emotional front. It can, and is likely to include relocating to another area or city, job changes, living away from family and friends, etc. Often, the disturbing impact of such a loss affects the whole family, especially children. There is also a risk of losing a good part of your capital and savings if the home sale results in a deficiency judgment, which is a monetary liability that may exist for upwards of twenty (20) years.
We work with the leading providers of foreclosure defense representation in the country and will make you aware of unique options and strategies, all in an effort to achieve the best result for you when, and if, foreclosure litigation has been instituted against you.
DISCLAIMER: By providing your contact information on this website, you are expressly granting permission to be contacted regarding mortgage services (through our network of Law Firms) even through you may have previously chosen to have your telephone number added to any Do-Not_Call List including lists maintained by any local, state, or federal government agency. Mortgage relief companies are not associated with the government, and service is not approved by the government or your lender. Even if you accept an offer from our network Law Firms and use their service, your lender may not agree to settle or negotiate. We do not guarantee qualification or a reduced monthly payment. Not all results are typical and your results may vary based on the program and your individual situation. The information and notices contained on this website are intended to as general research and information and are expressly not intended, and should not be regarded, as financial or legal advice.
THIS IS AN ADVERTISEMENT OFFERING, FOR A FEE, LOAN MODIFICATION, MORTGAGE REFINANCE/ORIGINATION AND/OR FORECLOSURE DEFENSE SERVICES FROM A LAW FIRM. THE ADVERTISER OR LAW FIRM OFFERING THESE SERVICES ARE NOT ASSOCIATED WITH ANY NON-PROFIT AGENCIES, LOCAL, STATE, OR FEDERAL GOVERNMENT AGENCIES. ADDITIONALLY, THE LAW FIRM PROVIDING ANY OF THE SERVICES MENTIONED ABOVE IS NOT ASSOCIATED WITH AND DOES NOT HAVE ANY INSIDE RELATIONSHIP WITH ANY PARTICULAR LENDER AND/OR MORTGAGE SERVICER. THE LAW FIRMS PROVIDING THE SERVICES MENTIONED ABOVE AS DESCRIED IN THIS ADVERTISEMENT ARE FOR-PROFIT ENTITIES, AND ARE NOT ASSOCIATED WITH THE FEDERAL GOVERNMENT OR THE AMERICAN REINVESTMENT AND RENEWAL ACT OR NON PROFIT ORGANIZATION.