Cleveland Foreclosure Attorney
Many individuals and families across the country are facing difficult economic situations. At the Gregory R. Glick Co. in Cleveland, Ohio, our lawyers and staff understand the problems accompanying financial issues, including foreclosure, and we help clients explore their options for handling the situation.
Facing a foreclosure is overwhelming and stressful. No one wants to lose their home. If you have received a notice from a lender that you have fallen behind on mortgage payments and are facing a possible foreclosure action, you may have options beyond simply walking away from your mortgage. We can help you understand your rights and offer possible options for dealing with a foreclosure. Contact our office today to learn more about foreclosure.
Negotiating with the Lender
We are skilled negotiators. Using these skills, we help clients negotiate with their lenders to obtain the restructuring of their loan payments. Though this is not always possible, given the condition of the real estate market, more lenders may be willing to negotiate today and our ability to structure the deal in the best possible light gives you a realistic chance to remain in your home.
Deed in Lieu of Foreclosure
This type of document states a borrower conveys all interest in their property to the lender in order to satisfy a defaulted loan. As a result, foreclosure is avoided. A deed in lieu of foreclosure can be advantageous to the borrower, as the deed releases the borrower from most or all of the debt associated with the loan.
A short sale may be carried out when a lender or bank agrees to discount a loan balance due a borrower’s economic hardship. Banks often allow this when it will result in a smaller financial loss than a foreclosure. Our firm has represented numerous individuals in short sale matters and can help argue for a short sale if your situation warrants this type of action.
In attempting to stop foreclosure, we can also closely examine other aspects of the lender’s background and interactions with you to see if there is any mortgage fraud, issues with an ARM or interest rates, broker or loan officer misconduct or violation of truth in lending laws during the origination of the loan.
For more information, or to schedule an appointment, please contact us.