Foreclosure Defense

ARE YOU:

  • Facing Foreclosure?

  • Wondering If a Bank Will Approve a Short Sale?

  • Trying To Get a Loan Modification?

  • Working With The Bank And They’re Just Working With You?

YOU NEED A REAL ESTATE ATTORNEY

Foreclosure Defense – Page 2


 

We Help You Avoid Foreclosure

Legal Services Provided:

  • Foreclosure Defense
  • Short Sales
  • Loan Modifications
  • Mediation Representation
  • Countersuits Against Lender
  • Striking Default Judgments
  • Postponing Sheriff’s Sales
  • Deficiency Judgments
  • Ejectment Actions
  • Forbearance Agreements
  • Bankruptcy

If you are looking to avoid foreclosure, Mr. Crawford may be able to  help you.  The need for an attorney well versed in real estate law is essential when you are facing foreclosure. Before a foreclosure action is filed by the bank, Mr. Crawford is able to work with your lender and help you avoid going through the foreclosure process by negotiating a loan modification or short sale, if you qualify.  We are also able to provide foreclosure defense services once a borrower receives a foreclosure complaint – we can prevent the lender from obtaining a default judgment and accelerating the foreclosure process. After a lender has already obtained a default judgment,     Mr. Crawford can provide foreclosure defense services by filing a petition to postpone a sheriff’s sale and strike a judgment.

Mr. Crawford brings 25 years of combined legal and real estate experience to aggressively represent your interest with lenders. He holds a juris doctor degree from the  University of Minnesota Law School and an M.B.A. in finance from the University of St. Thomas. In addition, he is a licensed Pennsylvania real estate broker with over 10 years experience in home sales.

During the foreclosure defense process, we may be able to have the foreclosure action dismissed or litigate it while trying to resolve your loan through a loan modification, short sale or forbearance agreement.  The key to using a foreclosure defense attorney is that it will help you stay in your home longer while your case is resolved with the bank through potential workout options.

Once a bank acknowledges that you are represented by legal counsel, they recognize that they will have to incur significant legal expenses in obtaining a foreclosure judgment.  In some cases, it is financially prudent for the bank to allow the borrower to sell the home for less that the amount owed on the mortgage.  In order for bank to approve a short sale, you need the right person to speak with the bank` and negotiate a short sale on your behalf. An attorney familiar with the short sale process is critical, and that is what we are able to offer.  Your chances of getting a short sale approved when you are represented by an attorney substantially increase. In fact, if your short sale negotiator is not an experienced attorney in Pennsylvania, you are probably doing yourself a  disservice. Once the home is in foreclosure, the non-attorney “short sale specialist” does not have the ability to provide any legal services whatsoever. During the foreclosure process, we can file an answer to the complaint raising counterclaims and defenses, as well as present various legal motions and petitions for relief from a foreclosure proceeding.  The end objective from these defensive tactics is to get your lender to cooperate with you and maximize your chances of getting a short sale or loan modification approved.

A loan modification allows the qualified borrower to receive a completely new loan and receive a “fresh start”.  Any amount in arrears will be wiped out and added to the remaining balance of the loan. In many cases, the interest rate on the loan is reduced to as low as 2%.  Other options for loan modifications are to extend the time to pay off the loan to 40 years, or forgiving principal. Mr. Crawford has had experience with both Home Affordable (HAMP) and traditional loan modifications. In order to obtain a loan modification, you must have experienced a financial hardship such as a job loss, or a decrease in your income, a health issue, or divorce. You then must establish that you can afford the mortgage if it is modified. Many lenders will want to see that the new loan terms make your total monthly mortgage obligation, PITI,  approximately 31% of your gross monthly income.

If your goal is to walk away from the home, my recommendation would be to list and sell the home as a short sale rather than a bank foreclosing. This will help salvage your credit greatly.  If you list the home for sale and obtain an offer, we are experienced in getting the bank’s approval for a short sale and we will ensure that the bank is unable to obtain a deficiency judgment (a judgment for the unpaid loan balance after short sale settlement).  If you have received an offer and the lender is not working with you, we are able to file a petition to postpone any sheriff’s sale to force the lender to review the short sale offer.  Additionally, if this is your primary residence, the debt forgiveness will not be treated as income for IRS tax purposes.

We provide foreclosure defenses services throughout the Delaware Valley.  Please contact us today for a free consultation.  Call Julius Crawford at 610 622-9904.

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LAW OFFICES OF JULIUS E. CRAWFORD

Foreclosure Defense

Address 1

6419 Market Street
Upper Darby, PA 19082

Phone Number: 610-622-9904
Fax Number: 610-622-7595
E-mail: jcrawfordesq@comcast.net

Address 2

2220 Cottman Avenue
Philadelphia, PA 19149

Phone Number: 215-733-9752
Fax Number:
E-mail: