Horenstein, Nicholson & Blumenthal’s experienced foreclosure defense attorneys understand Ohio law as well as federal mortgage regulations. This knowledge allows our attorneys to fully protect your rights. If you are facing a possible foreclosure and are considering retaining an attorney or just want to get your questions answered and sort out your options call us today for your free consultation. During your consultation, our attorneys will listen to your story, answer any questions you might have, determine the legal status of the foreclosure action that has or is about to be filed against you, identify your immediate needs and present your options so we can craft a plan of action and resolution together. Alternatively, if you aren’t ready to speak with a foreclosure defense attorney just yet, check out our FAQ section below.
We can assist you with:
- Full Mortgage File Review
- Pursuit of Federal Claims
- Loan Reinstatement
- Loan Modification
- Cash for Keys
- Short Sale
- Unbiased Bankruptcy Evaluations and Referrals
Save Your Home from Foreclosure
Every foreclosure situation is different and requires an individualized plan of attack based upon your goal and objectives. Crafting a plan of attack tailored to your situation can only be accomplished once an evaluation has been completed. Our attorneys offer free consultations to provide you with the necessary information to better make an informed decision on how you would like to approach your unique foreclosure situation. If you would like to have your situation evaluated for free, contact one of our experienced foreclosure defense attorneys today.
Banks May Not Have the Right to Foreclose!
Foreclosure actions may seem daunting, especially when the lenders are massive banks, but homeowners are often able to defeat foreclosure lawsuits and keep their homes. Our attorneys can identify mistakes commonly made by banks that other attorneys may miss. Identifying these mistakes allows you to remain in your home when you otherwise couldn’t.
Those mistakes/circumstances include:
- Mortgage servicer mistakes. Banks often hire mortgage servicers to send you bills and process your payments. If your mortgage servicer has credited your payments improperly, imposed excessive fees, or made other clerical errors, you might be able to defeat the foreclosure and keep your home.
- It’s unclear who owns your mortgage. Banks must prove they own the mortgage before they can foreclose on your home. This can be difficult to prove because many mortgages are sold numerous times, making the legal owner unclear. Due to the frequency with which mortgages are sold, this is often a powerful defense that can help save your home.
- Failure to follow state procedures. Many states have strict procedures in place to prevent wrongful foreclosure from happening. Often mere oversight can cause banks to fail to follow one of the many procedures in place. If your bank failed to properly follow the procedures in place you can use this failure as a defense to help save your home.
Horenstein, Nicholson & Blumenthal Can Help!
Our attorneys utilize every available option to find information that could prove to be useful in your foreclosure defense. We will also help to guide you through the complex loan modification process to help obtain the affordable payments you need. We present all available exit strategies such as: Short Sale, Deed in Lieu of Foreclosure, or Cash for Keys. We even evaluate to see if the best help might come from someone other than ourselves through filing bankruptcy and if this is the case we will give you an unbiased referral to bankruptcy attorneys in your area. Horenstein, Nicholson, & Blumenthal aims for the best possible outcome to your foreclosure and will give you a fair evaluation of your options.
Fill out the online consultation form or call us today!
Common Client Questions
Throughout the years of defending Ohio foreclosures our attorneys have recognized that many of our clients come to us with the same questions. While we would be happy to provide you with an individualized answer during a free consultation, we recognized that sometimes you just want to take some time to evaluate your situation and try to determine what the best course of action is on your own. For this reason we have compiled a list of short answers to some of our most common client questions. Many of the questions have short concise answers as well as a link to a more detailed response.
Do I need a foreclosure attorney?
If you find yourself asking if you need a foreclosure attorney, it is probably best that you at least get a consultation. You can call us now for your free consultation, provide us your information in the case review form below to set up a time to have a free consultation, or click the link to get more detailed information on why you might need to hire an attorney.
Why did the bank return my mortgage payment?
If the bank has refused to accept or returned your mortgage payment they have likely deemed that your mortgage loan is in default, the payment submitted does not cover the total amount due, and they are preparing to foreclose on your property. If your bank refuses to accept or returns your mortgage payment you should consult an attorney immediately. Our attorneys can help you sort out your options as well as help obtain information from the bank that will allow you to see exactly how much is owed, determine where you fell behind, and identify any accounting errors made by the bank.
Why did I receive a notice of default?
Many mortgages have a provision that requires the bank to give you written notice of the default before it can call the entire loan due. Typically, if you receive this notice the bank is preparing to file for foreclosure.
What is a notice of acceleration?
This is simply another term for a notice of default. If you have received such a notice the bank is likely planning to file foreclosure. If you have received one of these notices you should take action immediately since waiting until the foreclosure is filed could result in a loss of available options to save your home.
When can a bank file foreclosure against me?
Under federal regulations the bank must wait until you are more than 120 days delinquent on your mortgage loan before starting a foreclosure in court. This 120-day period is designed to give delinquent borrowers sufficient time to explore ways to avoid a foreclosure. However, the bank can send pre-foreclosure notices during this time and by the time you realize your mortgage loan is delinquent you may be closer to the filing of a foreclosure than you think.
If I missed a payment is the bank guaranteed a successful foreclosure?
No, foreclosure is a very complex issue. The bank wants you to think it is simple and straight forward, but there exist numerous regulations the bank must follow before being allowed to complete the foreclosure. Failure to adhere to even one of these could be enough to save your home. Additionally, several foreclosure alternatives exist such as loan modifications, cash for keys, deed in lieu, and short sales that can either save the home or provide you with a better financial future.
Should I miss payments to try and get a loan modification?
No, you don’t need to stop paying your mortgage to qualify for a loan modification. You only need to show you are in danger of falling behind in your payments. Missing mortgage payments that you can otherwise afford solely to try and obtain a loan modification can lead to some very serious negative consequences including losing your home.
What happens if my mortgage servicer changes?
In most cases, if your mortgage loan is transferred to a new servicer, your current servicer and the new servicer must each provide you with a notice. If you are behind on your mortgage payments, often a servicer transfer can signal that a foreclosure is imminent. If you are unsure if you are behind on your payments and your loan is transferred, you might consider contacting an attorney to help you determine if a foreclosure might be imminent.
What happens if my mortgage servicer changes while I’m in the middle of applying for a loan modification?
While there are federal guidelines in place that require the old servicer to forward your application information and documentation to the new servicer to evaluate the information, these guidelines are not always followed. If your loan is transferred in the middle of applying for a loan modification you should make sure you stay on top of the application process and submit any paperwork requested by the new servicer right away. If you feel like you are not being treated fairly you should contact an attorney to see what options you have to get your application the attention required.
Can bankruptcy stop a foreclosure?
A Chapter 7 Bankruptcy can delay a foreclosure, but won’t stop it permanently. Alternatively, a Chapter 13 Bankruptcy can get you out of foreclosure, but will still require you to pay back the entire delinquent amount and can remain on your credit report for up to 10 years.
Is bankruptcy my only option?
No, you can often keep your home by fighting the foreclosure in court and applying for a loan modification. Even if you can’t afford your home and don’t want to keep it obtaining a cash for keys, short sale, or deed in lieu of foreclosure can help you avoid deficiency judgments while serve to improve your future financial situation.
What is a short sale?
In a short sale, the lender accepts less than the amount owed on the note and mortgage. This is a good strategy for borrowers who are interested in leaving their home. It is helpful to have an experienced foreclosure defense attorney protecting the borrower’s rights as a realtor attempts to sell the home because the lender may reject the terms of the short sale.
What is a deed in lieu?
A deed in lieu of foreclosure is a transaction where the homeowner voluntarily transfers title to the property to the lender in exchange for a release from the mortgage obligation.
What is a loan modification?
A loan modification is a permanent restructuring of the mortgage designed to make the mortgage payment more affordable for the homeowner. This can be done by changing one or more of the loan terms such as extending the repayment period or lowering the interest rate.