Defending mortgage foreclosures has become a major issue in a lot of Civil Court cases these days.
95% of homeowners have defaulted during their foreclosure. Because of the increase in foreclosures, State and Federal laws were established to protect homeowners.
New York and New Jersey have changed their procedures on handling mortgage foreclosure litigation. For example, New York has instituted a mandatory settlement conference for certain sub-prime, "high cost" and "predatory lending" cases.
New Jersey instituted the option of a voluntary mediation program to help homeowners work out deals with lenders.
Residential Owners are not the only one that has been effected by this economy.
Commercial property owners also face mortgage foreclosures. They do not qualify for the federal or state funded modification programs.
As an Attorney, I know that you are working hard to help ordinary people and businesses keep their property. Attorneys are in the trenches (Courts) everyday fighting for your clients.
The loan modification process can be frustrating and confusing for many distressed homeowners.
Each homeowner has a unique set of circumstances that caused them to fall behind on their home loan, but generally the lenders consider divorce/separation, loss of income, death of spouse, co borrower or family member, illness, job relocation, military service to be acceptable reasons to consider a loan modification.
Every one will not fall under these guidelines. They also deserve a chance at keeping their home or business.
Here at Coleman Process Service, Inc., we are also working hard to defend mortgage foreclosures, assist home owners and businesses hold on to their property. We are here to assist the Attorneys in all capacities: