Real Estate Foreclosure
To avoid a real estate foreclosure the owner of real property must take certain actions governed by state foreclosure laws. Many of these laws are procedural and if followed properly can help a person avoid real estate foreclosure. The foreclosure process can be lengthy. Many times, a foreclosure is started by a bank, but then a successful negotiation takes place in which the owner of real property can avoid some of the damages or other financial distress relating to the foreclosure. A foreclosure can also affect a person’s estate and tax situation. A qualified attorney can provide very practical assistance to a person seeking to avoid real estate foreclosure, both by negotiating with the bank, assessing the impact on a person’s estate plan and by extending the process by understanding the law and procedure.
For assistance with your case, click here to find Real Estate Foreclosure Attorneys near you or find an attorney in a different state.
- Alabama
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- Maryland
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- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
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- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
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- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Frequently Asked Questions
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Why Would a Lender Agree to a Short Sale?
Banks and other lenders generally agree to short sales in order to avoid having to foreclose on a property and take it into their inventory. Most lenders would rather cut their losses and avoid a … more -
Will My Lender Accept the Short Sale as Payment in Full for My Loan?
Maybe. Your lender is not required to accept the short sale payment to satisfy your loan amount. The company may decide that you and your property do not qualify for a short sale and deny your … more -
Can My Lender Come After Me in Court for the Loan Balance I Owe After a Short Sale?
This depends in part on whether the property in the short sale is located in a judicial or a non-judicial foreclosure jurisdiction. In non-judicial foreclosure, also called a mortgage walk-away … more
Legal Articles
- How To Avoid Foreclosure
Are you facing foreclosure? More and more people are finding themselves in the difficult and unfortunate position of anticipating foreclosure of their homes. However, there may be alternatives to foreclosure. The options may vary depending upon your situation and you should contact your lender to explore those options sooner rather than later. The good news is that … more - The Mortgage Forgiveness Debt Relief Act of 2007
In December 2007, the federal government enacted the Mortgage Forgiveness Debt Relief Act. The Act was meant to provide tax relief to taxpayers who had debt forgiven on their primary residence and to help struggling homeowners. The Purpose of the Mortgage Forgiveness Debt Relief Act The idea behind the law was to help homeowners avoid foreclosures by not taxing them … more
Legal Guides
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Mortgage Payments Sending You Reeling? Here's What to Do...
This publication from the Federal Trade Comission discusses how you might be able to save your … more
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