Philadelphia Foreclosure Defense Attorney

PA Foreclosure Defense Lawyer with 35+ Years of Experience

At the Law Office of Michael P. Forbes, PC, we are well-versed in defending individuals against debt collection abuse and mortgage foreclosures. Our foreclosure defense attorney is driven by a strong desire to help consumers who are in difficult financial situations, and we fight aggressively on their behalf to see that their rights are upheld throughout their legal proceedings.

Contact our skilled Philadelphia foreclosure defense attorney at (610) 991-3321 for a free consultation!

What Is Foreclosure in Philadelphia?

Foreclosure is the legal procedure where a lender who has loaned money secured by a mortgage, forces the sale of the property in an effort to recover the money due. This money typically includes unpaid interest and the costs involved in the foreclosure process.

When Does the Foreclosure Process Start?

In Pennsylvania, the foreclosure process can begin after only 60 days of late mortgage payments. In this economy, it's becoming increasingly difficult for borrowers to keep up with their monthly payments, especially considering the number of underwater mortgages and sky-high unemployment rates. If you have already received your first or your second foreclosure notice, then you have just a few short months to take action and hopefully avoid foreclosure.

The borrower has just 30 days to cure the default, if they fail to bring the loan current with all past due amounts and fees, then the lender can file a foreclosure lawsuit. If you do not defend the lawsuit, the lender can then obtain a judgment and that allows it schedule a date for a sheriff’s sale of the property. At the sheriff's sale, the property is sold to another person or company. 

Contact us about your Philadelphia foreclosure case. Our firm will fight to protect you from losing your assets. Call our foreclosure lawyers at (610) 991-3321.

About Judicial Foreclosures

In the state of Pennsylvania, all foreclosures must go through the judicial process. Non-judicial foreclosures are prohibited in this state. Judicial foreclosures are available in every state and they are required in many states, as they are in Pennsylvania.

With a judicial foreclosure, the sale of the mortgaged property is conducted under the supervision of the court. In such cases, the proceeds of the sale are first allocated to satisfying the mortgage, then other lien holders, and finally, to the borrower if there are any proceeds remaining.

Can You Avoid Foreclosure?

• There may be defects in either the documents of the mortgage company or procedures taken by the mortgage company which could defeat the foreclosure action and save your house;
• You can work to get time to try to make a deal with the mortgage company to modify your loan or help you make alternative plans;
• If the mortgage was sold or assigned, there may be defects in the document assignment process or misinformation in the lawsuit documents which may lead to a lawsuit filed by you against the mortgage company could either yield you money or help settle the case and save your house

We help clients in Delaware, Montgomery, Chester, Lancaster, Berks, Lehigh, Bucks and Northampton counties.

Foreclosure vs. Short Sales

What Is the Difference Between Foreclosures and Short Sales?

Foreclosure processes occur when a lender repossess the house, usually against the owner’s will. Short sales are transactions that occur when a mortgage lender allows the person borrowing to sell the property for less than is owed on the mortgage.

If you own a home and find yourself in a financial bind, both foreclosure and short sales can help you get out of a sticky situation.

Length of Time

Depending on a number of factors, the foreclosure process could run from 5 months to several years. A short sale can happen much quicker since court intervention is rarely needed. 

Impact on Credit Score

A short sale can be way less damaging to your credit score than a foreclosure. People who usually go through short sales are able to start rebuilding their credit because the status of your mortgage will start to be reported in a positive way. 

The default on your mortgage payments will stay on your credit report for a total of 7 years. 

Save Your Home From Foreclosure

If you stand back and do nothing, you will certainly lose your home to foreclosure. If you want to remain in your home, then you must take immediate action to stop the foreclosure proceedings. You have the ability to fight foreclosure, and by doing so, give yourself a chance at saving your house and your credit.

When the borrower fails to contest the foreclosure of their home, the process may be concluded in as little as 5 or 6 months months; however, it can take longer if the borrower decides to fight the foreclosure. There are many effective ways to do this but it will take a knowledgeable and experienced attorney to follow Pennsylvania court procedure in the appropriate allotted timeline. There are many effective ways to do this but it will take a knowledgeable and experienced attorney to follow Pennsylvania court procedure in the appropriate allotted timeline.

How Our Foreclosure Defense Firm Can Help

Talking to your Philadelphia foreclosure lawyer can be one of the smartest steps to take to discuss options if paying for your mortgage is becoming a challenge. Attorney Michael P. Forbes will be able to guide you through the best plan of action based on your specific situation while keeping state laws in mind.

At our firm, Law Office of Michael P. Forbes, PC, our Philadelphia foreclosure lawyer is available to assist you in the event that you are facing the loss of your home at the hands of your mortgage lender. With a lawyer's help, you may be able to come to a resolution that sees you able to permanently remain in your Pennsylvania home.

What Is Foreclosure Protection?

Foreclosure Protection usually means applying for an being approved for a loan modification by your mortgage company. Most loan modifications will give you new terms for repayment of the amounts you are behind plus lower monthly, regular payments. Loan modifications are possible for those who are unable to pay their mortgage for several months and are at risk of losing their home. Not all homeowners are eligible for this program.

Among the factors considered for qualifying for a loan modification, a homeowner must fit certain criteria:

• The homeowner must be able to provide proof of their ownership by tax records or deed
• The homeowner must meet certain income criteria
• The homeowner must be experiencing a financial crisis

Turn to Our Philadelphia Foreclosure Attorney

If you are worried that you may lose your home in a foreclosure, contact a Philadelphia foreclosure lawyer to learn more about your rights and options. Attorney Michael P. Forbes may be able to help you avoid the foreclosure process. We will employ all legal resources at my disposal to increase your chances of being able to remain in your home. Our knowledgeable Philadelphia mortgage foreclosure attorney is sensitive to your needs and aggressive to act to protect your home.

Don't face foreclosure alone. Contact us online or dial (610) 991-3321 for a free consultation with a foreclosure defense attorney near you. Take the first step toward protecting your home!