Consumer Finance and Foreclosure

Consumer Finance and Foreclosure law deals with a wide variety of economic matters, including financial workouts, debt-consolidation, and foreclosure prevention and alternatives.

Frequently Asked Questions

When and why does foreclosure begin?
Lenders will initiate foreclosure proceedings when homeowners become delinquent in their mortgage obligations, usually after three payments are missed. The lender will then notify the buyer in … more
Are you at risk of foreclosure?
If your financial situation has changed for the worse, you may be worried that you might be at risk of foreclosure. Have your finances changed due to a mortgage payment increase, loss of … more
What is acceleration?
Many contracts for debts contain "acceleration" clauses. This clause gives a creditor the right to "accelerate" the repayment when a payment is missed. Often, the … more

Legal Articles

My bank is threatening to repossess my car. Can my bank do that?
If you have failed to make your car loan payments as agreed, or, in some states, if you have failed to maintain car insurance, the bank or lender can repossess your car. Repossession means that the bank can take your car back without going to court, filing a lawsuit, or even giving you any advance warning. However, banks and other lenders do have to follow some important rules in … more
What are my obligations if I co-sign a loan for another person?
What should you do if your twenty-something son asks you to co-sign his car loan? While you love your son, you’re not sure if he will be able to make the loan payments. What happens if you co-sign the loan, but your son doesn’t make the payments? Will you have to make the payments for your son? These all too common questions that parents and grandparents … more