There are steps you can take that if not prevent a foreclosure at least delay it. If no valid counter claim or defense is available a delay can give your family some breathing room to perhaps get your finances in better shape, sell the house at a fair price to cover the mortgage or give you time to find another home. Whatever you do don't ignore notices and court forms and paperwork that come your way.
After you receive a mortgage foreclosure notice contact our office so we can talk about your situation. You can tell us what's going on and we can talk about the law and how it may be applied in your case. Ignoring your situation won't make it go away.
Contact the mortgage servicing company and talk about how you plan to make payments.
● You can try to develop a plan to try and make your payments either by cutting your costs, boosting your income or getting a loan from a family member.
● You should contact one of the credit counseling services listed on the notice within thirty days of the mailing date on your notice.
● That agency may help you apply to the Pennsylvania Housing Finance Agency (PHFA) for a loan. The foreclosure can't filed in court while the application is being processed but the reality is the PHFA rejects most who apply for help.
If you fail to respond to the notice by the deadline, a mortgage foreclosure complaint will probably be served by a sheriff. You will have twenty days to respond. A response to the complaint needs to filed. Before you do so, have your plan ready, hire an attorney to help you and have any related documents organized.
The response may be an answer which responds to each allegation in the complaint. Preliminary objections can be included which state legal issues that need to be resolved before the complaint can be considered. This can be very technical legally and procedurally so you should get help from an attorney.
Failing to respond within twenty days will result in another notice warning you need to file a response in ten days (from the sending of the notice) or a judgment, a default, will be taken. A default is a notation on the court docket that the defendant lost the case because he or she didn't file a formal response in time. It puts all the cards in the plaintiff's hands so you have little leverage to help you negotiate.
No one wants their home to be in foreclosure but don't give up hope. You may be able to turn your finances around. We may be able to file counterclaims against the plaintiff and argue defenses that may turn the tide. Contact our office today if you fear foreclosure may result in the loss of your home or you've received a foreclosure notice. There is no time to waste.