Phone: (239) 210-2100 | Fax: (866) 397-1370
FORECLOSURE DEFENSE
When served with a Complaint for Foreclosure, it is important to respond within 20 days. Even if you are "working" with the Bank on a modification or other type of loss mitigation, this will not stop the foreclosure from proceeding. If you do not defend the foreclosure, the Bank will obtain a default against you for failure to respond to the complaint. The Bank will then file a Motion for Summary Judgment which will allow them to obtain a Final Judgment of Foreclosure. This is what will happen if you do nothing.
Whether your goal is to modify your loan and keep your house or to negotiate a deed in lieu or just allow the foreclosure to happen, it is important to respond to the complaint. If the Bank obtains a Final Judgment, they may also obtain a deficiency judgment against you. The deficiency judgment will be a money judgment against you for the difference between what is owed on your house and what the bank received at the judicial sale. This money judgment is enforceable against you for 20 years.
If you defend the foreclosure, the deficiency judgment can be addressed in various ways in the litigation process, including a waiver of the judgment.
I am an experienced foreclosre defense attorney and will help you to modify your loan in the process, if that is your goal. Whatever your goals are, I can help you. Please call me or use the contact form below and be sure to provide your phone number in the comment section.
When served with a Complaint for Foreclosure, it is important to respond within 20 days. Even if you are "working" with the Bank on a modification or other type of loss mitigation, this will not stop the foreclosure from proceeding. If you do not defend the foreclosure, the Bank will obtain a default against you for failure to respond to the complaint. The Bank will then file a Motion for Summary Judgment which will allow them to obtain a Final Judgment of Foreclosure. This is what will happen if you do nothing.
Whether your goal is to modify your loan and keep your house or to negotiate a deed in lieu or just allow the foreclosure to happen, it is important to respond to the complaint. If the Bank obtains a Final Judgment, they may also obtain a deficiency judgment against you. The deficiency judgment will be a money judgment against you for the difference between what is owed on your house and what the bank received at the judicial sale. This money judgment is enforceable against you for 20 years.
If you defend the foreclosure, the deficiency judgment can be addressed in various ways in the litigation process, including a waiver of the judgment.
I am an experienced foreclosre defense attorney and will help you to modify your loan in the process, if that is your goal. Whatever your goals are, I can help you. Please call me or use the contact form below and be sure to provide your phone number in the comment section.
