Representing Clients Nationwide
Funds loaned to a homebuyer are secured by a mortgage, which protects the lender and allows for the possibility of foreclosure if that the borrower is unable to meet his or her payment obligations. Essentially, the mortgage allows the lender to maintain a security interest in the asset, so that a foreclosure can be requested in the event of default. At Chávez Law Group, we help individuals fight foreclosure and work with mortgage companies and other lenders to design fair solutions.
Foreclosure is a legal process whereby a lender moves forward with the forced sale of a home in order to get as much money owed as possible, plus interest and foreclosure costs. Homebuyers are usually alerted of the proceeding with a Notice to Foreclose, followed by one or more reminder notices that explain when the sale will be open to the public.
Lenders may not force foreclosure immediately; depending on your state laws, borrowers are allowed 30 – 60 days to resume regular payments and pay the past due amount on the mortgage. If the deadline passes with no effort on the part of the borrower, the lender may seek a court order to foreclose. Once this court order is issued, the property will be sold according to the process detailed by the court. When the home is sold, the lender collects the amount due, with remaining funds going to lien holders and then the borrower if there are funds remaining after debt is taken care of.
If you’ve missed mortgage payments and now find yourself in danger of foreclosure, the experienced foreclosure attorneys at Chávez Law Group can help you save your home. Our foreclosure attorneys can also assist you with mortgage modification to adjust your mortgage terms to fit your budget and protect you from defaulting.
There are a few hoops to jump through before a foreclosure is granted, and it is during this critical period that our legal services can be critical in helping you hold on to your home. Our skilled legal team can go over the paperwork with a fine-tooth comb in hopes of identifying errors or questionable language that may delay or deny the foreclosure. During this time, we can also negotiate with the mortgage company to come up with a solution that lets you keep your home. For some clients, we may recommend looking into a filing for bankruptcy as a way to improve their situation and stop the foreclosure.
If you’ve received notice of foreclosure and need legal assistance right away to prevent the sale of your home against your will, please contact the knowledgeable attorneys at Chávez Law Group. We’ll fight for your home like it is our own.