Lyons Law Group, PA

Professional Service

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  Foreclosure Defense

  It may be that your bank filed your foreclosure action based upon improper documents, or there may be various other defenses to the foreclosure. Providingclients with the knowledge that they will not be removed from the home without months of advance warning is essential. Also, there is always the possibility that the foreclosure case can be won by the homeowner, and the bank will essentially have to start the process over. However, there is a statute of limitations on the time the bank has to file the foreclosure action, or they will lose the right to sue completely. Defending the foreclosure allows time to conduct discovery as well, which are requests for information and documents from the bank that are critical to the foreclosure process. If the bank cannot produce the required documentation, the foreclosure case may be dismissed by the Court. Defending the foreclosure also provides clients with time. This time may be used to just live in the home, to try to get a mortgage modification, or to try to resolve the matter in other ways to avoid the foreclosure process. Defending the foreclosure case gives clients the time and certainty needed to make good decisions for their financial future.

  Link: Foreclosure Defense

• Save your Home from Bank Foreclosure

  A mortgage modification is where your lender agrees to change the terms of your existing loan, usually to lower your monthly payment. This is often a difficult process, as the bank’s require a full and complete financial disclosure with current documentation, to show the proper hardship required for loan modification consideration by the bank. Often, homeowners do not properly or completely complete the financial disclosure, and a very important step in this process is making sure clients are submitting a complete and correct mortgage modification application to the bank. This dramatically increases the chances of success. A typical mortgage modification may include principal forgiveness, principal deferment, interest rate reduction, extension of the maturity of the loan, and in some cases, a shared appreciation plan. Every case is different, as each modification is dependent upon certain qualification guidelines. There are also government programs available for modification, such as the H.A.M.P. program, that may or may not be advantageous for clients. At times, it is an “in house” modification that brings down the monthly mortgage payment more than the government programs allow.

  Link: Save your Home from Bank Foreclosure