Helping You Examine All Your Options and Put Forth the Best Possible Defense Against Foreclosure

Facing foreclosure is a profoundly stressful event. It can touch diverse aspects of your life – endangering your credit, creating logistical problems for your children, provoking impetuous behavior that makes your financial issues worse, and even sowing doubt in core beliefs you have about yourself. But you don’t have to surrender, and you don’t have to fight through it alone. With the help of an experienced Connecticut foreclosure defense lawyer, you can take full advantage of the protections and opportunities the law affords.

Mediation Foreclosure Process in Connecticut

Depending on your financial situation and other variables, you may qualify for a special mediation process available to Connecticut homeowners. The borrower, lender and a neutral mediator work together to negotiate a satisfactory outcome, such as a modification to your home loan, a short sale, or a deed in lieu of foreclosure.

The Court looks to see if the home is your primary residence; and if the property is a one to four family building; and if you are the noteholder. However, the mediation program is available at the Court’s discretion. Each situation is unique and may have special circumstances. Contact us to discuss your matter and your specific facts.

The process is also very time sensitive. The borrower has only 15 days from the return date on the summons to file the necessary paperwork. Don’t delay, contact us now! (For more details on this program, please visit the State of Connecticut’s Judicial Branch website.)

The Right Remedy for Foreclosure in CT

As the Connecticut mediation program demonstrates, foreclosure can be complex, time sensitive and confusing. The process involves diverse federal, state, and local real estate and financial laws. Having an attorney on your side who understands the rules that govern foreclosures, and who can explain them clearly and concisely, can help you make more confident decisions.

Other reasons to work with a lawyer on your foreclosure defense include:

• Understanding options related to federally-insured mortgages. Loans made by Housing and Urban Development (HUD), Fannie Mae, Freddie Mac, and the FHA are all subject to specific foreclosure rules that may work in your favor – if you know that you can leverage them.
• Exercising your “right to redeem.” Generally speaking, homeowners facing foreclosure have a right to pay off what they owe in order to stop the foreclosure. Your lawyer can work with the bank to create a payment plan that gives you the means to avoid losing your home.
• Asserting a strong defense. In a foreclosure action, homeowners may challenge the real party in interest, the standing of the bank or servicer, and other improprieties in the foreclosure action. Your lawyer will ensure these challenges are made.
• Demanding to see a proper accounting. What if payments were misapplied, late fees wrongly charged or interest overcharged? When payment problems put you at risk for foreclosure, you have a right to know – and to use that information to your advantage.

To the bank or the mortgage company, you’re a file. At Klein & Babbitt, you’re family. We care about your future plans, your hopes, and your goals. We take the time to get to know our clients and their values. We have the experience to help you navigate the foreclosure process effectively and with grace. Call us today for a confidential conversation about your next steps.