Strategy Tips for Foreclosure Defense to Keep Your Home

foreclosure defense attorney

You don’t need to lose your home when you can’t pay your mortgage. Contrary to what you may hear, bankruptcy may not be the only option. But you must take action if you want to keep your home. The mortgage foreclosure defense lawyers at Sloan Law Firm are here to help.

Kansas Mortgage Foreclosure

In Kansas, mortgage foreclosure is a judicial process. That means a foreclosure is a lawsuit that you must defend against to avoid losing your home and possibly facing a deficiency judgment.

The court process is complex. Trying to defend against a foreclosure case on your own is a serious mistake. Representation from an experienced mortgage foreclosure defense lawyer is essential.

If you don’t defend against a foreclosure court action, the court will grant judgment for the lender. If you can’t pay the full amount you owe, your home will be auctioned off at a Sheriff’s sale. But even after a sale, you can reside in your home for a redemption period, which is at least three months. During that time, you can repay the purchaser of the property to keep your home.

If your home is sold at a Sheriff’s sale for less than the full amount you owe, the lender may be able to pursue a deficiency judgment against you for the remaining balance. If that happens, the lender can use traditional collection methods to collect the deficiency, including wage or bank garnishment.

You may avoid all these consequences by having a foreclosure defense lawyer represent you in a foreclosure action. Better yet, talk with an attorney before it even gets to the point of having a court case filed against you.

Options to Avoid Foreclosure

At Sloan Law Firm, our mortgage foreclosure defense lawyers do more than defend against foreclosure actions. We can often help you avoid a court case altogether by pursuing an option that avoids foreclosure. The options in your situation will depend entirely on your individual circumstances. But in all cases, the best strategy is taking action sooner rather than later.

If you fall behind in paying your mortgage, you can try talking with your lender on your own. If that doesn’t result in a solution, contact an attorney immediately. Above all, don’t be deceived by one of the prolific mortgage modification scammers that may target you. Never talk with anyone other than your lender or servicer or sign papers you do not understand. The only way to protect your rights is talking with a foreclosure defense lawyer.

Your attorney analyzes your situation, explains your options, then helps you decide what’s best for your circumstances. Whatever option you choose, your lawyer assists you with implementation.

Loan Modification to Avoid Foreclosure

One of the best ways to avoid foreclosure is to negotiate a loan modification, which is a permanent change in your mortgage. The modification may include:

  • Reducing or changing the interest rate
  • Reducing the principal amount of the loan
  • Reducing the monthly payment
  • Adjusting late fees and penalties
  • Changing the term of the mortgage
  • Deferring some payments until the end of the loan
  • Other adjustments based on the circumstances

Loan modification is sometimes as appealing to the lender as it is for you. The modification helps you make payments you can afford, and allows the lender to recover some of the loan. That can be a win–win solution for both parties.

An alternative to loan modification is a repayment plan, under which you make up unpaid amounts over a longer term. A few lenders may be receptive to this alternative. Others will not be. Debt forgiveness is also a possible alternative, but is very rare.

Depending on your situation, other options may also be available. Your mortgage foreclosure defense attorney helps you explore available strategies and find the best one for you.

Mortgage Foreclosure Defense

If your lender files a foreclosure action, you have only one option: defending against the court action. Complicated laws and rules apply in a mortgage foreclosure case. Our foreclosure defense lawyers know how to litigate foreclosure action and protect all your rights, while holding lenders accountable. Our goal is always to find the best solution for you and your circumstances.

To start your defense, your lawyer files an appearance with the court. At that point, the lender knows that you are serious about fighting the foreclosure and that you have legal representation.

The next step is filing an answer to the summons and complaint. In your answer, your lawyer asserts your defenses to the court action. The answer is necessary to stop a potential default judgment. Sometimes the answer includes a counterclaim. Counterclaims are one way of dealing with lenders that made misleading statements during the modification process.

An experienced mortgage foreclosure defense lawyer has specific strategies to use in defending against a court action. Which strategies are best in your case depend on the specific facts and circumstances.

Schedule a Consultation with our Kansas Mortgage Foreclosure Defense Attorneys

From our Sloan Law Firm offices in Topeka and Lawrence, we assist clients throughout Kansas with mortgage avoidance and foreclosure defense. We invite you to contact us by calling (785) 357-6311 or using our online contact form.

Categories: Mortgage Issues

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