Numerous financial institutions are finding that the documents they anticipated using in foreclosure proceedings are flawed! GMAC and JP Morgan Chase are among two large financial institutions that have acknowledged that mistakes were made with regards to the processing of mortgages. Both companies have suspended all foreclosure proceedings.Attorneys in many states are demanding legal action to investigate foreclosure proceedings brought by financial institutions. The treasury department is looking into these new disclosures.
Motions In A Foreclosure Proceeding
The financial institutions have acknowledged that the affidavits that they have been supplying to their attorneys in summary judgement motions may not be accurate. These motions are made to obtain quick judgements in foreclosure proceedings. If the financial institution is not successful on a summary judgement motion, then the case must go to trial.
Lawyers representing homeowners have repeatedly indicated that there has been carelessness and fraud in the foreclosure proceedings brought by lenders. Defense counsel are pressing lenders with regard to the actions they are taking related to foreclosure proceedings. As a result, foreclosure defense counsel are causing the foreclosure machinery to slow down.
Contact us regarding foreclosure defense, mortgage modifications, filing mortgage modifications, foreclosure conferences, Chapter 7 bankruptcy and Chapter 13 bankruptcy.
Slow Home Sales
The economic crisis in real estate in the United States is impacted by the number of foreclosed homes that come on the market. Home values are undermined when many homes in an area are foreclosed upon and sold. Throughout the United States, home values have gone down. Many homes are “under water”, meaning that the homes are worth less than the mortgages on them. Homeowners in some communities have simply given up and have stopped paying their mortgages.
Our office has been involved in representing individuals sued by creditors for three decades. We have numerous cases throughout the New York metropolitan area pending where we are defending homeowners from foreclosure proceedings. Our office has an expertise in handling foreclosure defense. There may be legal defenses available to you to stop your home from being foreclosed upon.
Feel free to call the Law Offices of Schlissel DeCorpo at 1-800-344-6431 or contact us by email to discuss your personal situation concerning foreclosure defense, mortgage modifications, foreclosure conferences, bankruptcy and reestablishing credit.
