Lehigh Valley Foreclosure Defense

Due to the sub-prime mortgage crisis of 2008, many homeowners located in the Lehigh Valley are still feeling the effects.  In some cases, property values have declined 35-50% from their peak in 2006. Recently, a $26 billion deal was struck with the nation’s top banks such as Bank of America, Wells Fargo, J.P. Morgan Chase, Citigroup, and Ally. The deal has been in the works for over a year. According the deal, $17 billion will go towards foreclosure relief efforts such as short sales and homeowner transitions programs. $3 billion has been allotted towards an underwater mortgage refiance program.  The … Continue reading »

In Pennsylvania, once a borrower falls behind in their mortgage payments, the first thing that occurs is receipt of a Notice of Intent to Foreclosure (Act 6 Notice). The Notice of Intent to Foreclose is typically sent to PA borrowers if they fall 90 days behind in their mortgage payments. The purpose of this notice is to inform the borrower that the lender intends to foreclose on the property if the mortgage is not made current. Once a borrower receives this, it’s common for borrowers to feel that it’s only a matter of time until they lose their home through … Continue reading »

When you’re facing foreclosure, it’s essential to get an attorney. Most people do not do this since they believe that a foreclosure is inevitable and there is nothing that they are able to do. This is a common misconception. In some cases, an attorney can help you stay in your home if you qualify for a loan modification or you will be able to walk away from your home without going through foreclosure if the bank approves a short sale. In order for a lender to foreclose on your home in Pennsylvania, they must file a complaint with the Court … Continue reading »

If you’re facing a potential foreclosure, here are some tips for you to give you the best chance of avoiding foreclosure. Don’t wait too long — If you are having difficulty paying your mortgage, the sooner you are able to act, the better it is for your case. Most people don’t want to admit that there is a problem so by the time that they are ready to act, it’s too late. Speak with a foreclosure defense attorney immediately if you are worried that you may have to default on your loan. You may end up qualifying for a loan … Continue reading »