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Facing Foreclosure? Know Your Options.

Facing foreclosure is terrifying and demoralizing. For years, big banks have seemed to have the upper hand in taking action against individual homeowners. They can be intimidating and seemingly uncaring about borrowers, whose business they once welcomed with great zeal.

What banks won’t tell you is that there are numerous options available to homeowners who have missed mortgage payments and cannot meet the demands of lenders. The knowledgeable foreclosure defense attorneys at The Stone-Siegel Law Firm in Santa Cruz, California, can help you understand your options and fight to keep you and your family in your home.

We work with clients in Santa Cruz and Santa Clara counties and beyond. We are available to meet with clients in our Los Gatos office by appointment.

You May Be A Victim Of Wrongful Foreclosure

Lenders often incorrectly take action against a borrower as a result of bank negligence and resulting errors. Working with an experienced real estate lawyer can help you avoid foreclosure or get the best possible result.

The most straightforward wrongful foreclosure cases involve homeowners who are incorrectly accused of missing mortgage payments due to bank processing errors or miscommunication between lenders, servicers, title insurers, foreclosure law firms and other bank contractors. Even in these cases it may be necessary to retain legal counsel to resolve the situation. Reimbursement for attorney fees can be part of the resolution.

In other cases, a homeowner may receive bad advice from a lender regarding qualification for loan modification and suddenly find themselves on a path to foreclosure.

Because proving wrongful foreclosure is complicated, it is smart to retain an attorney who knows the applicable lending laws and has the resources to fully investigate documents relating to your loan. We ensure that banks adhere to strict laws and guidelines they must follow when dealing with residential loans.

We have thorough knowledge of homeowners’ rights and protections provided by federal and state laws both before and after foreclosure. For example, California’s anti-deficiency rule states that if a mortgage loan goes into default, the lender may be limited to recovering only the foreclosure value of the property pledged to secure the obligation. The lender cannot obtain a deficiency judgment against the borrower if proceeds from the foreclosure sale are insufficient to fully pay off the defaulted loan. In some cases, this also applies to a junior deed of trust that did not foreclose.

Take The Next Step Forward With Our Lawyers

If you have received a notice of foreclosure from your lender or have questions regarding your liability following a foreclosure, it is critical to seek guidance from an attorney who has extensive experience in legal property matters.

We can discuss all of your options, including loan modification, a deed in lieu of foreclosure, a short sale or a lawsuit to enjoin the sale, and help you determine the best course of action to take. Call 831-713-5773 or use our contact form to schedule an appointment.

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