What is Foreclosure?

Foreclosure is the legal process lenders use to recover the balance of a loan from a borrower who has stopped making payments. A foreclosure lawyer with Brown Dunning Walker Fein Drusch PC can help you through this process to secure the property in question and recoup your financial investment. We help clients protect their rights and interests throughout every step of the legal proceedings.

Initiating the Foreclosure Process

The foreclosure process typically begins when a borrower misses multiple mortgage payments. The lender then notifies the borrower of the default. If the borrower fails to bring the loan current within the given timeframe, the lender can file a formal foreclosure action.

A Brown Dunning Walker Fein Drusch PC foreclosure representation lawyer will ensure all legal steps are followed. Every state has different foreclosure regulations, so we can prevent procedural missteps that could delay the process. From drafting and filing the required notices to managing interactions with borrowers, we’ll streamline the path toward a resolution.

Protecting Lender Interests

When banks or other lenders deal with delinquent borrowers, they prioritize recovering their investment with as little financial loss as possible. We work to ensure our clients stay on solid legal footing, helping them comply with state and federal foreclosure laws. This could involve conducting title searches to confirm there are no additional claims on the property and reviewing contracts to assess whether the borrower has any potential defenses.

We’ll ensure you know your rights and how to enforce them. For example, depending on the state, lenders may have the option of pursuing a judicial or non-judicial foreclosure. Both have advantages, and we can help you determine your situation’s best course of action.

Foreclosure Sales

Once a foreclosure proceeds through the legal stages, the lender can sell the property. However, this stage requires careful legal oversight. Whether the sale is through an auction or arranged privately, we’ll ensure you meet all legal requirements so the sale maximizes financial recovery.

Sometimes, foreclosure sales don’t yield enough funds to cover the outstanding mortgage balance. In those cases, lenders may seek deficiency judgments against borrowers for the remaining amount. We can assist by drafting the necessary legal documents and ensuring compliance with court rules to secure these judgments when available.

Handling Borrower Defenses

It’s not uncommon for borrowers to fight back against foreclosure. They may file counterclaims or assert defenses like improper loan servicing or lack of notice. We’ll anticipate these tactics and defend your position, helping you avoid drawn-out litigation.

One strategy we may employ, for example, is challenging claims based on the statute of limitations or addressing procedural deficiencies in the borrower’s counterarguments. We’ll keep the focus on your legal rights so you have the best chance of obtaining a favorable outcome.

Please don’t hesitate to learn more about how a Brown Dunning Walker Fein Drusch PC foreclosure representation lawyer can help. Use our online contact form or call (303) 329-3363 to speak with one of our attorneys.