Foreclosure Frequently Asked Questions

Q: What if I receive a foreclosure notice?

A: You have 20 days to answer the complaint against you.  If you don't answer, or don't answer correctly, you may waive several legal defenses that can be asserted on your behalf and the mortgage company can then ask the court to rule in their favor on motion of Summary Judgment.

Q: What is summary judgement?

A: Summary Judgment is when either side of a law suit goes to the judge and says that there is no issue of fact to be decided, so please just rule in my favor.  If you don't answer the complaint within the time allowed, then the judge may have to agree and grant the bank's request.  If your attorney does file a response within 20 days, then there is an excellent chance that a factual issue can be raised, and the judge will grant more time to settle that issue.  With house notes and deeds changing hands at such a rapid pace, it is not unusual for the bank to not be able to produce the required documents, buying you valuable time.

Q: Can the Can the Law office of Mandy Pavlakos "stop" my foreclosure?

A: Foreclosure defense is about granting you more time in your home by holding the foreclosing entity accountable for all the legal requirements the law says they need to satisfy in order to foreclose and providing you with all the options available going forward. Challenging the lawsuit can stop the foreclosure while the case is litigated and you make no mortgage payments. In some cases, the suit may be dismissed completely and the bank is forced to pay your costs.

Q: If it's possible I may ultimately lose my home, why fight?

A: By making the lender produce documents they should be able to produce, and challenging any discrepancies in those documents,  your attorney will learn the quality of their case against you and litigate the issues of the case, putting the foreclosure on hold.  During this time you can stay in your home without making payments on your loan, negotiate with the lender, investigate options, such as maybe selling the home, and have an opportunity to improve your financial situation.  If you can meet the existing terms or modified terms of your loan, or have the suit dismissed, then you can stop the foreclosure with your attorney's help.

Q: What about modifying my mortgage or short selling?

A: With so many foreclosures happening at once, banks are overwhelmed.  Many times, the department of your bank that can modify your loan isn't aware that the department handling foreclosures has started a cause of action against you.  It takes time to negotiate with the bank and fighting the foreclosure can provide that time.  Successful defense also improves your negotiating position with the bank.

A: You may, but rest assured the bank will ultimately seek a deficiency judgment against you for the balance owed.  This also applies if your home is foreclosed and sells for less than you owe at auction.  In such cases, there are other options in which we can advise.