A Mortgage Foreclosure is the legal means by which a lender attempts to collect the balance of a loan regarding a piece of real property. Ultimately, if the lender is successful in the foreclosure proceeding legal title to the real property is transferred to a 3rd party purchaser at auction and typically the borrower is left with a deficiency judgment. Not only would you lose your property, but the lender may sue you for the balance left on the loan after the property is sold.
It is important to retain a competent foreclosure attorney as these deficiency judgments are often hundreds of thousands of dollars! A deficiency judgment allows the lender to pursue collection efforts, including wage garnishment, freezing of bank accounts, harassing phone calls, tax consequences, and other collections tactics. Lenders often misrepresent the status of your loan and/or make threatening phone calls as an attempt expedite fulfillment of payment.
At Hoskins Turco Lloyd & Lloyd we've helped thousands of clients navigate the foreclosure process and can help you assess the status of your individual situation to determine if you have legal defenses to be presented, as well as assist in thwarting such collections tactics.
To set up a FREE Consultation with a Foreclosure Attorney in Port St. Lucie, Vero Beach, Fort Pierce, or Okeechobee, call us today or Chat Now!