Designing A Strong Foreclosure Defense
Attorney Levitt is a leader in foreclosure defense in New Jersey. He has defeated numerous foreclosures on behalf of homeowners. Additionally, he successfully litigated the nationally recognized case Kemp v. Countrywide Home Loans in United States Bankruptcy Court, where he defeated the mortgage company’s attempt to assert its claim.
Foreclosure Defense Solutions
The methods our attorneys use to stop foreclosure include:
Mortgage modifications: Mortgage lenders have programs available to help people modify their mortgages, but they make it difficult for homeowners to get the modification. Our lawyers have successfully gotten our clients modifications that have lowered their interest rates, extended their payments, eliminated interest arrears and some principal, and put the past due payments into the mortgage.
Mortgage mediation: The New Jersey courts have a mortgage mediation program that allows people who are facing foreclosure to meet with the lender and an impartial mediator to try to find a solution to their mortgage-related problem. We have extensive mediation experience and have been successful in getting favorable results for our clients.
Lack-of-note defense: Your mortgage lender may not be the proper party to foreclose. This may give rise to a “produce the note” defense to either defeat the foreclosure action or get a favorable settlement. Attorney Bruce Levitt has been at the forefront of lawyers raising this defense. He has successfully defeated attempts by mortgage lenders to enforce mortgages in bankruptcy. He was the winning attorney in Kemp v. Countrywide Home Loans, which was the first reported New Jersey Bankruptcy Court decision to hold that for a mortgage lender to pursue its claim, it must produce the original note. The Kemp case is cited around the country and is among the leading cases in the mortgage foreclosure defense practice area.
Fraud by the lender: Your lender may have committed fraud when the loan was made. If fraud is determined, your lender may be liable for triple damages and attorney fees under the New Jersey Consumer Fraud Act. Many cases in which attorneys Bruce Levitt and Shelley Slafkes have raised this defense have resulted in negotiated settlements with the mortgage lenders.
Violations of truth in lending laws: Your mortgage lender may have violated truth in lending laws when your mortgage was issued. This fact may lead to a successful resolution of the foreclosure and let you keep your real estate. Our attorneys have used truth in lending laws to successfully defend foreclosure actions.
Servicing violations: The law requires mortgage servicers to follow certain rules for servicing your loan and allowing you to modify your loan. We have successfully sued mortgage servicers and defended mortgage foreclosures based on these servicing abuses.
Bankruptcy: If you are financially distressed overall, filing bankruptcy (Chapter 7 or Chapter 13) is an effective way to stop foreclosure immediately and buy you time to resolve an “upside-down” or “underwater” mortgage problem.
Short sale: If you have exhausted other methods for saving your home, a short sale can help you walk away from your home without mortgage obligations. In a short sale, your lender may agree to accept proceeds short of what is actually owed as “payment in full” of the remaining balance of your mortgage. This prevents a foreclosure. Our attorneys assist clients in negotiating short sales.
Deed in lieu of foreclosure: The lender may accept a deed in lieu of foreclosure, taking the property back from you without going through the foreclosure process. We will negotiate with the lender on your behalf and work to ensure that any agreement provides the maximum level of benefit for you.
Contact Us Now To Learn How We Can Help You Save Your Home
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.