Fighting The Foreclosure Lawsuit
3. Can I fight a foreclosure case on my own or do I need a lawyer?
You technically do not need to hire a lawyer to fight a foreclosure case. In theory you can represent yourself. But let’s look at the facts.
The financial institutions bringing the foreclosure proceedings are multi-billion dollar institutions. Banks such as Chase Manhattan are worth as much as a trillion dollars. The lawyers the banks hire to bring the foreclosure lawsuits specialize in foreclosure litigation. Many of these law firms have been operational for more than 25 years and are experts in handling foreclosure litigation. Unless you are very knowledgeable and experienced in the law regarding foreclosures, it would be a terrible mistake to try to defend yourself in a foreclosure proceeding. Experienced foreclosure lawyers have expertise in litigating foreclosure cases. Our law firm has been representing clients in foreclosure cases for more than 20 years. We have scores of cases pending, and many of our clients have been in their homes more than 6 years since the foreclosure proceedings were initiated against them.
Trying to represent yourself at a foreclosure proceeding, although legally appropriate, is almost always a mistake. You need to retain the right lawyer. You should look for a law firm that has extensive experience in representing clients in foreclosure lawsuits.
Loan Modifications
4. Are loan modifications the answer to foreclosure problems?
Loan modifications are the answer for many families’ foreclosure problems. However, they do not work if you have lost your job, are disabled, or have very little cash flow. Banks are not social service organizations. They are in business to make money. They make the mortgage loans to homeowners with the hope of making a profit on these loans.
There are various mortgage modification programs. However, the success rate consumers have in obtaining mortgage modifications runs approximately 20%. Sometimes the best way to motivate a bank to provide you with a mortgage modification is to aggressively litigate the foreclosure case and let them know you are not going to take this matter lying down. Foreclosure defense lawyers utilize the mandatory foreclosure conference parts to press the financial institutions into providing the clients with reasonable mortgage modifications. The failure of a financial institution to negotiate in good faith can be used as a defense in the foreclosure lawsuit.
Walking Away From Your House
5. Your loan modification was denied, should you turn over your home to the bank?
False!
Approximately 80% of the people who apply for loan modifications don’t receive permanent loan modifications. This does not mean you are going to be forced out of your home in the near future. Sophisticated foreclosure defense law firms file answers with numerous affirmative defenses and a variety of countersuits against the financial institutions. They can also demand documents, records and other material from the banks which may be embarrassing or may show the banks have violated federal and state laws. This can put further pressure on financial institutions to grant the client’s mortgage modifications.
Facing Foreclosure: What Do You Do?
6. What should I really do if I am behind on my mortgage and facing foreclosure?
Simply stated, call us. The Law Offices of Schlissel DeCorpo have been helping New Yorkers fight foreclosures and stay in their homes for more than two decades. We have an unparalleled record of success. Our law firm is known to the bank attorneys, the court personnel, and the judges. Call us at 1-800-344-6431, 516-561-6645, or 718-350-2802 for a free consultation. We will keep you in your home!
