Wednesday, February 25, 2015

Avoiding Retaining an Attorney in Foreclosure Cases

Question: I received a foreclosure citation, however, I accepted an offer to sell my home for cash to a person I’ve known for a very long time. The sale is expected to take place about six weeks before the answer is due. Because I know the buyer, I know that the cash is available and the sale will go through. Do I still need to file an application and retain an attorney?

Response: To avoid having to retain an attorney when you are this close to selling your property, you can contact the attorneys for the bank and ask them for an extension, explaining that you are in the process of selling the property and paying the bank off. There is a high likelihood that they will grant you an extension. If you close before the answer is due, then your case will be settled beforehand and you won’t need to file an answer. If not, it is always best to file an answer to preserve your defenses and to avoid being in default of the lawsuit, as it is easier for the bank to foreclose on your property when you are in default.

In the legal blog, Attorney Svetlana Kaplun addresses typical questions our firm has received from our clients, or come across from homeowners related to foreclosure, foreclosure defense, loan modification and bankruptcy topics.

The information contained in the legal blog of Attorney Svetlana Kaplun is for informational purposes only, and should not be construed as a legal advice on any subject matter. Please read our full disclaimer or contact the Law Office of Svetlana Kaplun, P.C. by telephone at 718-444-1115 for more information.
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