Foreclosures

It may be possible to prevent or delay a foreclosure if certain legal requirements are satisfied. Before deciding to call an attorney you should explore the following resource:

http://www.nclc.org/issues/counseling-resources.html

You will be better informed and may not need to spend funds on attorney services. The most important matter is to act immediately after you receive a Notice of Default or similar document informing you of the upcoming foreclosure.

Generally, foreclosure procedure is governed by state law. The two most common methods are judicial foreclosure (lender files an action in court) and non-judicial (Deed of Trust sale, Power of Sale) foreclosure. To obtain judgment under judicial foreclosure, lender must generally prove that there is a valid mortgage between the parties, that the

borrower is in default under the terms of the mortgage and that proper procedures have been followed. Under power of sale foreclosure the lender moves under powers granted in the original mortgage in case of default. There is a usually a notice requirement (typically 90 days) and finally notice of sale (typically 21 days) before sale takes place.

If you have not been successful in getting the lender to work with you, please contact us and we’ll discuss available options.

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