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Lawyer writes on notepad in library working on defense for foreclosure

 Facing Foreclosure? Defenses May Be Available

Personal Injury

One of the most satisfying moments a person can have is purchasing their own home. A lot happens in your home from amazing memories with family to recuperating from a personal injury that has caused you to miss work — as our own personal injury lawyers can explain. As you sit at home with the bills piling up and no income coming in, one of the most frightening things you can experience is opening up the certified letter from the mortgage company, informing you that it has begun the foreclosure process on your home because you have fallen behind in your mortgage. If you have fallen behind in your mortgage and foreclosure is looming, there are some defenses you may have.

The following is a brief overview of foreclosure defense options from a foreclosure defense lawyer from The Law Offices of Ronald I. Chorches.

Mortgage Reinstatement

Sometimes, homeowners get into temporary financial difficulties but are able to quickly recover from those hurdles. If this is the case and you are confident you once again have the income to cover your monthly payments, the mortgage company may consider reinstating your mortgage if you can pay all of the past due payments, as well as late fees, and any administrative and legal fees.

Loan Modification

Another possible option the mortgage company may consider is modifying your existing loan. This involves producing all the required documentation to show that you will be able to afford the monthly payment of the modified mortgage. A foreclosure defense lawyer can discuss this process with you and if it would be beneficial for your situation.


When a person files for bankruptcy, the court issues a stay, putting a halt to any and all collection activities by creditors. This includes the foreclosure process. Filing for Chapter 13 bankruptcy can help save your home if you are able to meet all the criteria. Under Chapter 13, you will have 60 months to pay back the current mortgage arrears, while also keeping up with your monthly payments moving forward.

Short Sale

Short sales are a step above foreclosure when it comes to your credit rating, however, it may be a workable option for you. In a short sale, the home is sold for less than what the owner owes on their mortgage. The mortgage company has to approve the sale since they will not be receiving the balance owed to them like a regular sale. The company has the option to forgive any remaining balance, however, it is not required to and could still insist the borrower pays that balance over time.

Deed in Lieu of Foreclosure

With a deed in lieu, the homeowner transfers the deed of the property over to the mortgage company in place of mortgage payments. By signing over the deed, the mortgage company is able to avoid more legal fees (that are passed on to the borrower) that would be necessary for a foreclosure action.

No matter what option you end up choosing, it is important to speak with a foreclosure defense lawyer to ensure that you are choosing the option that is in the best interest of your family and your financial future.

For more detailed information about your particular situation, most sure to consult with a seasoned bankruptcy lawyer.