Atlanta Consumer and Wrongful Foreclosure Attorney

In today’s volatile economy, thousands of homeowner’s face foreclosure every day. The thought of losing your home can give rise to a slew of emotions, including anger, confusion, and depression. The havoc that is wreaked by the foreclosure of a home is not something that is easily shaken. Often, the entire dynamics of a family structure are completely and forever changed, never to return to their original state. A wrongful foreclosure really adds insult to injury, especially if you are facing the process alone. The attorneys at Hecht Walker, P.C. can help. Our highly trained, experienced attorneys have experience representing both lenders and borrowers throughout the entire process.

What can Hecht Walker, P.C. do for the lender?

If you are a lender about to embark on the foreclosure process, you are probably aware that there are strict laws governing the proceedings and the notification process. The attorneys at Hecht Walker, P.C. will review all of the loan documents in search of any ambiguity that may question the entire process. Loan documents, security deeds, and demand letters must be correct and complete in order to comply with the laws and assert your rights as a lender to foreclose. Sometimes, questions may arise regarding collateral for the loan, actual ownership of the property, and/or assignment of the loans. The proper paperwork, executed correctly will avoid a slowing of the process because of these questions.

What can Hecht Walker, P.C. do for the borrower?

The attorneys at Hecht Walker, P.C. have extensive experience representing clients in a range of foreclosure matters, including wrongful foreclosures. A wrongful foreclosure may arise out of any number of instances that an untrained eye may miss. For instance, many times misapplied payments, errors in interest charges, improper fees, and lack of standing can be grounds for a wrongful foreclosure. Fatal errors related to the transfer of loans can sometimes prevent a creditor from foreclosing altogether.

How does foreclosure work in the state of Georgia?

Georgia is a non-judicial state when it comes to foreclosures, so that means that it is not necessary for the lender to file suit or appear in court to foreclose on your home. The process usually begins with some type of default on the part of the borrower. A default can be missed payments, failure to maintain insurance on the property, or a failure to pay property taxes. Then, the holder of the mortgage must send the borrower a thirty-day written notice of his intent to foreclose. The mortgage holder must also publish the notice in the official county newspaper and file proof that it owns the title to the security instrument. This is the procedure in a very abbreviated nutshell. The state of Georgia imposes strict laws concerning the notification process and they must be followed exactly in order to avoid a wrongful foreclosure.

Is the foreclosure the end of the borrower’s financial obligation?

Sometimes it is. Often times it is not. The foreclosure process, if execute correctly, really only nullifies the borrower’s right to live in the property. The lender reserves the right to execute a deficiency judgement against the borrower if necessary. If the foreclosure was completed in good faith, and the sale of the property at foreclosure did not satisfy the promissory note signed by the original borrower, then the lender can seek a deficiency judgement in a court of law. A deficiency judgement transfers responsibility of the difference to the original borrower. For example, if home ‘xyz’ originally sold for $150,000, and the foreclosure sale only satisfies $125,000, then the original borrower may still be required to pay the remaining $25,000 difference on the property.

Will bankruptcy proceedings stop a foreclosure?

Every state has their own laws governing both of these proceedings and their relation to each other. Sometimes filing for bankruptcy may be an option, but there are exceptions to every rule. There may also be other options such as a short sale, a deed in lieu of foreclosure, or loan forbearance. A skilled attorney with expertise in this area can discuss options for your particular situation. Many times, it will depend on your particular financial situation, how far you may be behind on your payments, and where you are in the entire process. If you are facing foreclosure, you should seek legal counsel immediately.

How long does the process take?

Again, each and every case is different and treated on an individual basis. The foreclosure process, itself, can move rather quickly since judicial proceedings are not necessary in the state of Georgia. However, if you believe you are the victim of a wrongful foreclosure, this can slow things down a bit. Wrongful foreclosure litigation can take up to six months, or even longer, depending on the individual circumstances surrounding a case.

Can the victim of a wrongful foreclosure recover damages?

Sometimes they can, depending on the individual circumstances surrounding your case. A victim of wrongful foreclosure may be able to recover title to the property in question. Other times they may be able to recover the greater value of the property at sale or the equity in the property. If the foreclosing entity actually committed fraud or willful malice, it may be possible to recover punitive damages, attorneys’ fees, and court costs.

Call a premier consumer and wrongful foreclosure attorney today

The attorneys at Hecht Walker, P.C. will diligently pursue and defend your rights as a lender or property owner when it comes to consumer and wrongful foreclosures. If you find yourself facing a foreclosure, or you feel you may be the victim of a wrongful foreclosure, you don’t just want any lawyer handling your case,you want the premier consumer and wrongful foreclosure attorneys at Hecht Walker, P.C. looking out for your best interest. Perhaps you have already received notice that the process has started, Hecht Walker, P.C. can help. We have almost a century of specialized experience in the field of consumer and wrongful foreclosures ready to work for you. Call 404-348-4881 or email info@hmhwlaw.com to set up your consultation today. Whether you are a lender or a borrower, Hecht Walker, P.C. will handle all of your legal matters and steer you to calmer waters.