Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. Formally, a mortgage lender (mortgagee), or other lien holder, obtains a termination of a mortgage borrower (mortgagor)‘s equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure). A foreclosed home is one in which the owner is unable to make his mortgage loan payments and the bank repossessed the home. These homes are usually not for sale until the entire foreclosure process is complete and the bank lists the home in the local Multiple Listing Service (MLS.)
The foreclosure process is a long and frustrating procedure initiated by mortgage lenders to intimidate and discourage homeowners. Without legal representation, it can be difficult to get lenders to cooperate with requests regarding loan modifications and stopping a foreclosure. Our team specializes in such matters, and knows exactly how to get it done.
We have helped save more homes from Foreclosure than any other firm we are aware of in the USA. Call us today for a free consultation with an expert at saving homes. We are open 7 days per week. You have nothing to lose and your home to gain.