About Litvin Foreclosure Defense Attorneys
The Litvin Law Firm, headed by Gennady Litvin focuses their practice on Foreclosure Defense in 31 states across the US. We are a different kind of law firm and have made it simple to engage our firm to defend your foreclosure. We have successfully worked with thousands of families and have identified several common questions that most families have.
For example, people frequently ask us things like, “I borrowed money and I have not made all of the payments, what can you do for me”?
We will fight the case on your behalf and make the bank prove its case. We search for any type of mortgage fraud that might have been made by the mortgage broker, original lender, appraiser, loan servicer, and law firm representing the bank. We force the party bringing the lawsuit (which is often a trustee for various institutions who purchased securities representing claims on a pool of securitized mortgages). By law they are required to prove that they actually own the mortgage and note, have legal standing to file lawsuit, and have the evidence to prove the loan was properly transferred between each of the entities that owned the mortgage at various times. Litvin Law Firm attorneys assert all known affirmative defenses and counterclaims and conduct discovery to support any claims that a client may have against the bank or any other entity involved in the lending process.
There are plenty of things for a qualified attorney to do when defending a homeowner in foreclosure. Some homeowners decide to file a simple answer denying the allegations in the lenders complaint. Filing a simple answer will avoid a default but foreclosure defense litigation is much, much more then filing an answer.
If we go back about twenty or so years, foreclosure was pretty easy for bank attorneys when all they had to do was fill out forms. Back then a homeowner had to put 20% down to purchase a home. If a home owner put 20% on a $200,000 house they would have to put $40,000.00 of their own money down at the time of the sale. Over the next few years the house might appreciate to $215,000 and the homeowner might pay off $5,000 to $10,000 of the debt. As such three to four years after buying the home the homeowner would have $60,000 to $65,000.00 in equity. Now think about what would happen if this homeowner lost their job or was hospitalized and missed four mortgage payments. If the bank brought a foreclosure action, a homeowner with substantial equity would do one of the following:
- Borrow money from a family member, credit cards, or a loan shark to pay the four missed payments, interest, late fees, attorney’s fees & costs, and obtain a dismissal by bringing the account current.
- Sell the house at a significant profit (around $215,000) and use the sales proceeds to pay the full loan balance.
- Refinance the house, and payoff the original mortgage with the loan proceeds.
Whether the homeowner brought the account current, sold the house or refinanced, the bank got paid in full. After the bank and the bank’s lawyer received their principal, interest, late fees, attorney’s fees and costs, the case was dismissed. The bank’s lawyer only needed to fill out the forms and every homeowner with equity would capitulate and pay whatever the bank says was due.
By engaging the attorneys at Litvin Law Firm you are assured that the bank attorneys will not railroad you into a settlement that might not be in your best interest. Litvin Law has successfully negotiated hundreds of the following types of settlements for their clients:
- Stopped foreclosure sale
- Loan modifications
- Loan restructures
- Forbearance agreements
- Short sales
- Deed in lieu of foreclosure
In addition to the above, Litvin Law Firm has been able to have hundreds of foreclosures dismissed in court due to the inability of the lender to produce the required documents.
“For a no cost, no obligation consultation and review of your case please call 877-829-4104 or fill out the “contact me” form to connect with a Litvin Law Firm foreclosure professional.