When banks and other lenders are involved in foreclosures or short sales, they are governed by specific legal requirements. Not doing so can result in large losses for the financial institution.
At Faith, Ledyard & Faith, PLC, our lawyers are experienced in all phases of the foreclosure and short sale processes. Our lawyers will help ensure that the necessary requirements will be met and we’ll handle any other legal matter required. Our lawyers have the background needed to represent private lenders and banks through the Phoenix area and Arizona. Some of the services we offer include:
— Representing the lenders’ interest in bankruptcy matters.
— Representing lenders in loan workout agreements.
— Drafting documents needed for trustee sales.
— Reviewing all loan documents.
— Providing the proper notices to owners who are not current on their payments.
According to RealtyTrac, one in every 1721 homes is in foreclosure as of last month. The top counties include Pima, Pinal, Mohave, Santa Cruz and Cochise. The total number of foreclosures in Arizona, though, compared to the national number, is about .01 percent lower. Because foreclosures are still occurring at a relatively high rate, lenders will continue to need legal representation to ensure their rights are protected.
Because of the mortgage fraud scandals, it is important that financial lenders are current with all regulations, state laws and federal requirements for filing for foreclosure. We stay current on all actions regarding real estate so that our clients are protected.
If you want to learn more about how we can help your financial lending institution, please visit our webpages on foreclosures and trustee sales.