Seattle Foreclosure Attorney
Foreclosure defense is a cornerstone of our practice. As a full-service firm, we offer a variety of options and strategies. Whether you wish to save your home or simply buy time for as long as possible until you have to leave, we can help. See below for some of our strategies.
Loan Modification Can Stop Foreclosure
We offer loan modification services. A successful loan modification stops the foreclosure process. We can determine if you should qualify for a loan modification by analyzing whether you pass the net present value test (NPV test). We offer both a full service option where we handle each part of the process as well as a low cost assistance only option where we help you to prepare your own loan modification package.
Foreclosure Fairness Mediation Representation
The Foreclosure Fairness Mediation Act (FFMA) became law in Washington State in 2011 (see RCW 61.24). The FFMA requires that homeowners are offered a chance to mediate directly with the bank holding the loan to see if a loan modification, deed in lieu, or other work out is possible. We represent homeowner’s in FFMA meet and confer and mediation hearings.
We help you to be successful at your FFMA mediation by seeing if you pass the net present value test (NPV test) which is the baseline test to see if you qualify for a loan modification. Additionally, we analyze title documents and mortgage loan histories for errors or fraud. If fraud or error is found, we can use this to help obtain a favorable loan modification or to pursue a civil suit on your behalf. If during mediation your bank will not negotiate in good faith, this can be a defense to the foreclosure.
Bankruptcy Stops the Foreclosure Process
Filing a bankruptcy, whether chapter 7 or chapter 13, stops the foreclosure process. This can buy you extra months in your home until the foreclosure can proceed. If you file a chapter 13 bankruptcy, you can spread any missed payments over 3-5 years and possibly strip off second or third mortgages. You can also choose to surrender the home and avoid liability for any potential deficiency judgment if your home is foreclosed upon.
Temporary Restraining Order to Stop the Foreclosure
The Washington State foreclosure process has many requirements. If the foreclosure trustee takes short cuts and does not follow the process exactly, we can obtain a temporary restraining order to stop the foreclosure sale until the defects are cured. Sometimes, this requires the foreclosure process to be restarted entirely. Additionally, if the bank does not have the proper documents or does not follow the requirements of Washington’s Deed of Trust Act (see RCW 61.24) we can obtain a restraining order against the sale. Many times, if there are enough facts in your favor to obtain a restraining order, there are enough facts to file a civil claim for damages for wrongful foreclosure or mortgage fraud.
Wrongful Foreclosure Litigation
If a foreclosure occurred wrongfully, it is possible to have the sale set aside. Washington Law makes this difficult to impossible, depending upon the circumstances. However, if the foreclosure is proved to be wrongful, you could be entitled to money damages. If you would like to learn more about our litigation options, please read our mortgage fraud litigation
Call Us Today to Learn About Your Legal Options
Foreclosure defense is a nuanced area of law which requires an understanding of the foreclosure process, the financial consequences of foreclosure, and related areas of law allowing you to stop, delay, or set aside a foreclosure. At Washington Debt Law, foreclosure defense is a cornerstone of our practice. Call us today to see how we can help keep you in your home.