We've been heavily involved lately in assisting clients that are experiencing financial difficulties and facing foreclosure. Whether foreclosure has commenced or you're looking for ways to avoid it, we can help. Whether it's guiding you through a modification, defending pending litigation, or both, please be aware that there is help available.
Short sales and deeds-in-lieu may be available if the client does not wish to keep the home. While this is not ideal and often a last resort, it can help avoid deficiency exposure.
For those clients wishing to keep their homes, a modification may be available, depending on income and liabilities. Navigating this process directly with the lender is often very difficult and time consuming outside of foreclosure, but if foreclosure has commenced, Connecticut has implemented a court-monitored mediation program where, based on a recent study, 2/3rds of individuals applying have been able to keep their homes.
We've been successful recently on behalf of our clients. On April 4th, I was able to petition the Court to open judgment and postpone the sale until August when a sale was already scheduled for April 30th. Yesterday, I argued on behalf of a client to reinstate her case to the mediation docket when the original deadline was missed. This is why it's important to speak w/ an attorney to discuss options, and not miss an opportunity.
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