If you have been unable to pay the mortgage on your home, you are not alone. Foreclosures have become increasingly common in the last five years. A Connecticut civil litigation attorney can help you understand what to expect from the foreclosure process and what you can do about it.
If you have been unable to make your mortgage payments on your home, you are considered in default. Unfortunately, with the recent economic downturn, more and more people find themselves in this situation and turn to a Connecticut civil litigation lawyer for help. If you’ve defaulted on your home, your lender must send you a notice of default. As your Connecticut civil litigation lawyer will explain, you’ll then have sixty days to bring your payments up to date before the lender can proceed to a foreclosure action.
If you’ve received a sixty day demand letter from the bank but have been unable to pay, the bank can then file a foreclosure lawsuit against you. Your Connecticut civil litigation attorney can explain how to respond to it. Understand that the bank cannot simply “take your home” without going through formal court proceedings. If you have a defense to the lawsuit, your Connecticut civil litigation lawyer can help you present it to the court.
If the court enters a judgment of foreclosure against you, one of two things will happen next. If you have equity in the home, the court can order a foreclosure sale. If you are truly “upside down” on your mortgage, then, as your Connecticut civil litigation attorney can discuss, the court may order strict foreclosure. Strict foreclosure is essentially a title transfer to the bank without a sale. Your lawyer can explain further.
If you face a home foreclosure, contact an experienced Connecticut civil litigation attorney at Shalvoy Law, LLC to discuss your best legal options. Call 203-426-4409 to set up a consultation as soon as possible.