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Arizona attorneys guide lenders in foreclosure procedures

| May 29, 2015 | Commercial Real Estate |

The possibility of foreclosure of a property, whether a residential home or commercial real estate, can raise a number of potential legal issues in Arizona. The attorneys of Faith, Ledyard and Faith PLC, who, as discussed in a previous post, represent clients facing the possibility of foreclosure for residential properties, are also well-versed in aiding banks and private lenders as they navigate the world of foreclosures, trustee sales and loan modifications.

When a lender or bank initiates a short sale or foreclosure, whether for a residential, commercial or industrial property, it is imperative to follow specified legal requirements and procedures. From providing proper notice to the property owners, to ensuring thorough completion of all documents, a lender or bank will want to make sure all details are attended to before concluding a foreclosure or trustee sale.

The real estate attorneys at our firm can guide a bank or lender as it proceeds with a foreclosure or short sale, and help ensure that the entity’s interests are protected. Failure to adequately investigate and follow the legal requirements of a foreclosure, trustee sale or loan modification could result in great, and unnecessary, financial expense for a bank or lender.

Ensuring loan documents meet legal requirements and that sale notices are properly completed and distributed are some of the services that the attorneys of Faith, Ledyard and Faith PLC offer. Additionally, the attorneys draft documents necessary for a trustee sale, as well as represent clients in matters of bankruptcy or loan workout agreements.

For more information about how banks or lenders may benefit from the attorney guidance of Faith, Ledyard and Faith PLC, visit our webpage.

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