Huntingdon Valley Mortgage Foreclosure Lawyer

If you receive a notice of intent regarding an upcoming foreclosure lawsuit, contact our attorneys for help defending your case and retaining ownership of your home.

Foreclosure cases officially begin with lenders filing lawsuits in court, though they must notify borrowers of their intent to foreclose at least 30 days before they file a complaint. Banks can file foreclosure lawsuits against borrowers if they have been delinquent for 120 days or more. Mortgage foreclosure lawsuits are overseen by judges, which often benefits homeowners, especially those who were subjected to predatory lending or loan servicing law violations. If mediation does not garner a solution, our lawyers may defend your case in court or help you pursue a bankruptcy case. This would pause the foreclosure lawsuit and force your lender to respect the terms of a Chapter 13 bankruptcy repayment plan, giving you several years to pay off outstanding mortgage debt.

Call (215) 701-6519 to get a free case assessment from the mortgage foreclosure lawyers of Young, Marr, Mallis & Associates.

Timeline of Mortgage Foreclosure Cases in Huntingdon Valley

If foreclosure is imminent, understanding the process and general timeline is important. Otherwise, you could fail to respond to intent letters or complaints fast enough, which could threaten your case. We can guide you through each step of the process so you know what to expect and are prepared to defend the complaint if it goes to court.

Lender Sends a Notice of Intent Letter

The first step in the foreclosure process is for a lender to send a borrower a notice of intent. In Pennsylvania, banks can notify homeowners of their intent to foreclose once they have been delinquent for 120 days. Missing a few months of mortgage payments could put you at risk of foreclosure and getting an intent letter from your bank. If you receive a notice of intent letter but have yet to default on your mortgage, our attorneys can contact your lender to resolve the issue. Do not ignore an intent letter, as this is a serious indication that your bank wants to foreclose.

Homeowner Contacts Our Attorneys to Review the Case

Generally, homeowners in Huntingdon Valley have 30 days to respond to intent letters after receiving them. Because this is a relatively short timeframe, contact our attorneys immediately after defaulting, potentially before you even receive an intent letter, so we can prepare for a possible future foreclosure case.

We can immediately read the bank’s intent letter to confirm its assessment of your missed payments. We can then review your owed amount and determine whether you can cure your outstanding payments within 30 days to prevent the bank from filing a complaint in court. This is often financially impossible for homeowners who have already defaulted, so we may begin preparing defenses against mortgage foreclosure during this time. We may also contact your bank to negotiate a solution, such as a loan modification before it files a foreclosure complaint.

Lender Files Judicial Foreclosure Complaint

Thirty days after sending letters of intent to borrowers, banks can file foreclosure complaints in Huntingdon Valley. All foreclosure cases in Pennsylvania are judicial, meaning a bank may not take your home without getting a judge’s approval. Once a complaint is filed in court, the foreclosure lawsuit officially begins. Failure to respond to a complaint within 20 days of filing could result in the court entering a default judgment against you, siding with the bank because you did not respond fast enough. Our attorneys can ensure quick responses to foreclosure complaints so you do not lose your home before the case has a chance to start in court.

Parties Enter Mediation

Judges often urge homeowners and banks to enter mediation in an attempt to keep the case out of court. To prepare for mediation or other negotiations with your lender, our lawyers will carefully read your existing mortgage contract, review previous communications between you and your lender, and gather other relevant information for your case. This can allow us to identify areas of the mortgage contract that could be amended to facilitate easier payments for you in the future. Banks are often most concerned with getting paid as quickly as possible and might refuse to change mortgage terms, particularly if lenders have missed many payments. Your foreclosure lawsuit might proceed to court if mediation does not yield a solution.

Foreclosure Case Goes to Court

If the lawsuit goes to court, our mortgage foreclosure lawyers will have the opportunity to present your defense to the judge. When defending foreclosure complaints, our lawyers might search for signs of predatory lending or violations of lending laws, which could convince the judge to dismiss the bank’s case. When banks have the legal standing to repossess properties because homeowners have defaulted, filing bankruptcy might stop the lawsuit from progressing to a sheriff’s sale.

Possible Sheriff’s Sale

A sheriff’s sale is the biggest consequence of foreclosure, which means the judge has allowed the bank to repossess your home. Pennsylvania does not have a right of redemption following sheriff’s sales, so you cannot get your house back even if you find the funds to cure your mortgage after a sale is finalized. Not only are sheriff’s sales distressing for homeowners, but foreclosure can significantly impact one’s credit, making it challenging to find housing after a lawsuit ends. While bankruptcy also affects homeowners’ credit, it may allow them to retain ownership of their homes despite defaulting on their mortgages. We can see if you are a good candidate for Chapter 13 bankruptcy based on your income and expenses, as this would shield your home from liquidation and give you three to five years to repay your lender in Huntingdon Valley.

Call Our Lawyers in Huntingdon Valley for Help Today

Call Young, Marr, Mallis & Associates (215) 701-6519 for a free case discussion with our mortgage foreclosure lawyers.