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Foreclosure Law

Hundreds of thousands of foreclosures are filed each month, and many homeowners simply choose to do nothing to defend the rights concerning their home.  Most are unsure of what steps to take when they fall behind on their mortgage. Homeowners may wish to understand their legal rights and to develop a plan even before a foreclosure complaint is filed. Oppenheim Law has helped clients throughout the ongoing foreclosure crisis, implementing strategies to defend foreclosure and prevent costly deficiency judgments.

If you are facing foreclosure and are unsure of your options, remember that if you quickly develop a strategy, you will be more successful in your foreclosure defense.

For many homeowners, foreclosure defense is an opportunity to consider their options. In some situations, time is all a family needs to get back on their feet and remain in their home. Options include a short sale, strategic default, deed-in-lieu or even mortgage modification. Such alternatives may  prevent foreclosure and deficiency judgments.

Banks make mistakes and  you should not have to pay for them. Recently, Oppenheim Law defended a foreclosure in which the bank lost the mortgage, the note and improperly transferred the mortgage from one investor to another. In fact, the assignment was not even recorded in the public records! Considering the massive size of banks and the numbers of foreclosures they process, mistakes like these are incredibly common.

While defending the aforementioned foreclosure, our insight led the client to be able to sell their property, and the bank agreed to reduce the mortgage payoff by $200,000. Just as importantly, Oppenheim Law was able to negotiate an agreement with the bank, ensuring that a deficiency judgment against our client would not be pursued.

The result: an Oppenheim Law foreclosure defense home run and a successful short sale. The client is free of the underwater property, the bank is substantially compensated and the possibility of a costly deficiency judgment is negotiated away. If you are falling behind on your mortgage, it is in your best interest to plan a foreclosure defense strategy now.

Please feel free to contact Oppenheim Law with any questions about your situation.

Click here to contact us and we will respond to your inquiry as soon as possible, or call us at (954) 384-6114.