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Wilkes-Barre Mortgage Foreclosure Defense Lawyer

Your finances might have significantly changed since you purchased your home, and it might be very difficult to keep up with mortgage payments. If this sounds similar to your situation, contact our lawyers for help avoiding foreclosure.

Your attorney can go over the details of your mortgage and possibly impending foreclosure to figure out the best way to prevent foreclosure. For example, if the bank tries to foreclose when you have only missed one or two payments, your lawyer can help you stop them. We should also make sure that the bank has adhered to all requirements during foreclosure, including providing you with sufficient notice. If all else fails, your lawyer can help you figure out how to cure the default before your home is auctioned off. You might also want to speak to your attorney about filing for bankruptcy. While this is not a perfect solution, it might help you avoid foreclosure, depending on how you file. Our attorney can help you review your finances, determine your options, and do what it takes to keep your home.

Contact our mortgage foreclosure defense lawyers at Young, Marr, Mallis & Associates for a free case assessment by calling (215) 701-6519.

Fighting a Mortgage Foreclosure in Court in Wilkes-Barre

The best way to fight foreclosure depends on your unique financial situation. Since Pennsylvania is a judicial foreclosure state, there might be ways that our mortgage foreclosure defense lawyers can challenge the case in court. Alternatively, we might challenge foreclosure by dealing directly with creditors.

Timing of the Foreclosure

According to 12 C.F.R. § 1024.41(f)(1), creditors cannot begin foreclosure proceedings until borrowers are delinquent with mortgage payments for a certain period of time. They can only begin foreclosure if you are at least 120 days past due with payment.

It is possible that your creditor might begin preparing for foreclosure before the 120-day deadline if they do not believe you can make up for the missed payments before then. However, they should not formally begin foreclosure or send you any information indicating that they will foreclose until this deadline has passed.

If you are only a month or two behind and have received notice of foreclosure, contact our legal team for help immediately.

Notice Requirements

When creditors like the bank initiate foreclosure proceedings, they must first provide you with formal written notice. The notice includes numerous details about what is to come and what your options might be. For example, the notice should explain the time you have until your creditors file their case against you in court. In many cases, this is about 30 days. It might also include details about how much money you owe and how many payments you have missed.

If the creditors do not provide notice or the notice is somehow lacking in information, we can challenge the foreclosure. While this might not stop the foreclosure altogether, it might delay it and give us more time to plan our next move.

Curing the Default

In Pennsylvania, homeowners facing foreclosure have a right to cure the default. This means that if you can come up with the money needed to catch up on your mortgage and cover various other legal costs and fees, you may pull yourself out of default and get back on track with your mortgage. This is usually a very difficult feat to accomplish, but it is not impossible.

How Bankruptcy Might Help You Defend Against a Mortgage Foreclosure in Wilkes-Barre

Another option that might help you defend against a foreclosure is to file for bankruptcy. This might sound like a terrible idea, as bankruptcy is not widely regarded as a good thing. However, bankruptcy is not a punishment for bad financial decisions. It is meant to be a solution for people facing mounting debts with no way out. Depending on your circumstances and which bankruptcy chapter we file your case under, you might be able to prevent foreclosure.

Chapter 7 bankruptcy focuses on liquidating assets and properties to pay back debts. Check with your lawyer before pursuing this option, as it might cost your house. It is very possible that a bankruptcy trustee may liquidate your home. If you have other valuable assets, we might convince the bankruptcy trustee to liquidate them first in the hopes that your home may be spared.

Chapter 13 bankruptcy is also a very common choice among bankruptcy petitioners. Unlike Chapter 7, Chapter 13 does not usually involve liquidating assets. As such, you might keep your home. However, we must instead devise an aggressive payment plan that helps you catch up on your debts in a few years. This might be a good option for those who have a steady income, but whose debts are too high.

What Our Attorneys Can Do to Help You Avoid a Mortgage Foreclosure in Wilkes-Barre

However you decide to defend your home against foreclosure, you should have a qualified attorney by your side. Our legal team can help you assess your financial situation and determine what your best options are. This might include some of the options discussed here or others that might be better suited to your needs.

Is bankruptcy the best choice? This might be a tough question to answer on your own, as most people would do almost anything to avoid filing for bankruptcy. While it might be a hard choice to make, our lawyers can determine if bankruptcy can help you.

Your attorney can also help you explore other legal options. For example, after reviewing your assets and properties, it might make more sense for you to sell off some assets to help pay your mortgage. This might include selling other real properties or valuable personal belongings you do not need or do not mind parting with.