When you buy a home, that transaction involves two primary elements: 1. the promise to pay back the money, and 2. the creation of a lien against the property to ensure payment. A foreclosure occurs when the lender has not been paid and as a result, seeks to reclaim the property.

Foreclosures can occur against properties with reverse mortgages and commercial properties where there has been a default under the terms of the mortgage.

Is there anything you can do pre-foreclosure to stop the foreclosure process from happening? First, pre-foreclosure has two meanings. To the lay person, it means what can she or he do after a default is entered but before the sheriff’s sale occurs. As experienced foreclosure attornies, we can take steps on your behalf before the foreclosure lawsuit is filed.

We will:

1. Communicate with the lender to discuss options
2. Determine what options and time frames will work best for the homeowner
3. Explore how to cure defaults
4. Look into refinancing options