Mortgage Foreclosure: Questions and Answers
What exactly is a mortgage foreclosure? A mortgage foreclosure is a specific lawsuit which allows the holder of the mortgage, usually a bank or mortgage lender, to obtain a money judgment against real property (your home) and take it away from you because you have defaulted on your monthly mortgage payments.
Sometimes there exist defenses to foreclosure. However, to start you must answer a foreclosure complaint in a timely fashion, and assert all the defenses which are available to you. A proper defense to a foreclosure case may uncover problems related to the mortgage loan which benefit you.
A proper foreclousre defense will delay the entire foreclosure process so that you have time to consider alternate means of financing, participating in a short sale, a modifciation of your mortgage loan, or attempt other legal remedies to save your home such as Chapter 13 Bankruptcy. Mortgage loan modifications are much more available today than years ago. While your foreclosure case is pending you may remain in your home. If a foreclosure case has been filed against you please move quickly to decide what you intend to do with your home, or your investment property.
Many law firms will propose to you representation with a significant retainer and monthly payments. Mr. Eckert will represent you for a reasonable flat fee.