Foreclosure Lawyer

Scott W. Spaulding has been fighting in foreclosure court for four years. Having a background in civil law has helped his clients remain in their homes while fighting their case. Whether its fighting a bad loan, helping a client to get back on their feet or resolve the case to the best of his ability, helping the client remain in the home is the best place to fight the case.

Foreclosures have dominated the news for the last 5 years in TV, magazines, internet and newspapers. No one is a stranger to the constant news of a slowing economy. Many have been victims of the economy in terms of lowered income, lost jobs, reduced benefits layoffs and the like. While the banking industry push the absurd notion that it is the public that has refused to pay its bills it is the sale of risky loans and downright fraud in those loans that has stalled the housing industry.

Will I lose my home? Will I owe thousands of dollars? KNOW that there are options! BUT, ignoring the problem will guarantee that the lender will get the house in short order.

If you are served with a summons and complaint for foreclosure there are a number of things you must consider if you want to fight for your home:

  1. Do not ignore legal notices! Failing to address the issue head on can cause you to lose out on possible defenses to foreclosure on your home.
  2. Negotiating with your lender is no guarantee the bank will stop pursuing you in court!
  3. You may surrender defenses and give up bargaining power by not going to court!
  4. You lose opportunities such as cash for keys, short sales etc... by not going to court!
  5. Filing bankruptcy is not a long-term solution to foreclosure!
It is important to keep in mind that in many instances while a homeowner is negotiating with the bank, that is, giving the bank the same documents over and over and over. . . . the attorneys representing the bank are moving forward with the foreclosure action and seeking a judgment against you. This is the first step in removing you from your home. An experienced foreclosure lawyer can put up all of the defenses a homeowner is entitled to in keeping you in your home while you decide what is best for you and your family.

There are options:

  1. Modifications: Modifications are changes in the loan and how it is structured. Negotiations with the bank can restructure the payments. Not all loans can qualify. Modifications involve lengthy negotiations with the lender. The trick is to defend the foreclosure in court while negotiating with the lender. This prevents the lender from obtaining a judgment against you while negotiation in good faith. A good source for modifications can be found at
  2. Cash for Keys: This is a common term for a consent judgment. The law provides for a negotiated turnover of the residence to the lender. The benefit is the lender cannot pursue a money judgment against you. This is soften a concern when the value of a home is below the amount owed on the mortgage. A lender can seek the difference from you in a form of a money judgment. In this scenario, the lender cannot get a money judgment and, in fact, in some cases the lender will pay you cash to move out at a pre-determined date!
  3. Short Sale: This option involves putting the residence on the market. In those situations where the value of the home is below the amount still owed the lender, negotiations are conducted with lender to convinced them to take less. That is, they will accept less than they are owed and the house can be sold. Again, the lender cannot come after you for the difference.
  4. A homeowner who ignores the legal notices can find themselves moving through these steps rapidly and losing their home equally as fast. It is important to consult an attorney who can advise you on these steps, slowing the process and bringing it to the best conclusion possible.

    If you are served with a summons and complaint because the economy let you down, do not ignore those legal notices and consult a foreclosure lawyer. Scott Spaulding can advise you and help you stay in your home!

Email Scott W. Spaulding Today

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