A potential foreclosure on your family home or place of business can be a devastating financial blow. It can also signal the end of years of hard work and threaten your family’s stability. It is crucial that you are prepared to fight back from the earliest opportunity. This includes working to show a mortgage company that a foreclosure is inappropriate and promoting a persuasive defense in court.
A Contra Costa County foreclosure lawyer at Estavillo Law Group may be able to help you with this process. Our dedicated team of attorneys can work to research your mortgage history, evaluate the paperwork that a lender is using to justify their actions, and take every necessary step to keep you in your home or place of business.
The Legal Process Behind a Foreclosure
Signing on to a mortgage with either a bank or any other lender enters a property owner into a contract. They agree that they will make mortgage payments on time. Because of this, a single missed payment is all that is necessary for a lender to justify the initiation of foreclosure proceedings.
Even with this basic concept in mind, banks and other lenders must still follow strict procedures when attempting to seize property. For example, lenders must first issue a letter to a borrower informing them of their arrearage on the mortgage and signaling their intent to start the judicial foreclosure process. They then must record a Notice of Default with the Contra Costa County Recorder California Civil Code § 2924. Only once these steps are complete may a lender file a formal lawsuit in court looking to seize the property.
If a mortgage loan contains a clause providing for a power-of-sale, the lender may initiate a sale of the property in an attempt to recover their losses due to a borrower’s non-payment. A knowledgeable Contra Costa County foreclosure attorney could provide further information about when a foreclosure may be appropriate and the legal steps that lenders must take to seize property.
Fighting to Protect the Property of Clients
It is critical to fight back against a pending foreclosure at every opportunity. This can begin as soon as a borrower receives a notice of a default. It is an unfortunate fact that lenders often make errors in their paperwork that do not accurately reflect a borrower’s current account status. This could lead to disputes over whether an account is in arrears and questioning the legality of a foreclosure.
A legal professional could also work to evaluate the legality of the steps that a lender has made in their attempt to seize the property. No matter what stage the the foreclosure is at, lenders must properly inform their borrowers of their current default, provide adequate time before moving to seize the land, and even offer borrowers time to cure their default. An experienced foreclosure lawyer could help determine which defense strategy offers the best chance for clients looking to retain their property in Contra Costa County.
Let a Contra Costa County Foreclosure Attorney Fight for You
You have the right and ability to fight back against a foreclosure. This includes disputing whether the foreclosure is appropriate given your payment history and challenging the methods that lenders have used to attempt to seize the land. However, it is easy to feel overwhelmed and frustrated during this high-stakes process.
A Contra Costa County foreclosure lawyer could provide valuable guidance. Our diligent team of attorneys could handle the details involved in answering a formal judicial foreclosure or contesting the right of a lender to attempt to seize land through a power-of-sale clause. Contact us today to get started.