Foreclosures & Mortgage Litigation

If your house is at risk of foreclosure or is currently being foreclosed on, take immediate action. You may still have time to save your home.  It is important that action take place to stop the foreclosure before the advertised sale date.

Filing a bankruptcy will immediately halt the foreclosure process. Tennessee is a non-judicial foreclosure state meaning a house can be sold by foreclosure without any court action being taken.  If a bankruptcy is not filed in time, the sale can take place on the courthouse steps with just a notice in the newspaper. Don’t take chances with losing your home. Call us for an early appointment to consider your options.

State Courts rarely grant requests for an injunction and they may limit the injunction so that the homeowner may still be faced with a foreclosure. A homeowner can more effectively use Chapter 13, as a form of foreclosure defense, to catch up payments and get the mortgage back on track.

Most homeowners may not be sure which company actually owns their mortgage.  Most mortgage loans are serviced by a large nationwide mortgage service company – such as Bank of America or Wells Fargo – that are not the real owners of the loan.

In fact, most loans are owned by a securitized trust and managed according to the terms of a pooling and servicing agreement.

We can assist in analyzing your mortgage and note to determine:

  • Who actually owns your mortgage and note?
  • Who is servicing your mortgage?
  • Whether Fannie Mae/ Freddie Mac/Ginnie Mae or MERS are involved?
  • Does your servicer’s agreement with the mortgage and note owner provide terms or criteria for lost mitigation/loan modifications and/or forbearances?

If your mortgage company is raising your payments or adding bogus loan charges to your account in violation of the rules, then we have access to the Court that can consider your complaint and issue a fair ruling to all concerned.

Many clients are frustrated in their attempts to obtain a HAMP or HARP loan modification.  It seems that mortgage companies frequently offer this relief but never are able to deliver on their promises.  We have achieved success in negotiating mortgage loan modifications in many cases when clients were unable to do so. The benefits of this process include lowering interest rates or payments in many cases, curing defaults, removing incorrect charges, and correcting errors in the loan accounting. Allow us to review your mortgage loan before it is too late.

Harlan, Slocum and Quillen will assist you with answering these questions. Click here to contact us.