Since Act 48, banks have uniformly chosen judicial foreclosure as the method to enforce their lien rights in mortgage delinquency situations. While judicial foreclosures have the benefit of judicial review (meaning a judge will review the pleadings before determining whether a bank can foreclose), judicial foreclosures carry the potential for deficiency judgments.
Your rights as a borrower can be easily effected by inaction in judicial foreclosures. You are only given 20 days to respond to a complaint and summons in court. If you fail to object to a motion for summary judgment, you can lose all your substantive rights with respect to foreclosure defense.
At Cain & Herren, ALC, we specialize in helping our clients assert and protect their foreclosure defense rights in a cost-effective manner. Most of our cases will settle by means of short sale, loan modification or a deed in lieu of foreclosure. We carefully tailor defense strategy to provide an individualized representation that best meets our clients’ goals. We also offer free consultations for anyone facing a foreclosure scenario.
If you get served a complaint and summons or are already in the middle of a judicial foreclosure case, do not wait to get legal advice. Clients that come to us in advance of court deadlines will often find themselves emerging from litigation with the best results.
If you have other questions, you can email Michael at firstname.lastname@example.org