Cleveland Home Foreclosure Lawyer

Foreclosure I know times are tough and uncertain. Many people aren't sure what to do, or which way to turn. This situation is particularly painful if you can't afford your house payments and have been served with a foreclosure complaint on your home.

Your options are:

1. Negotiate with your mortgage company to reinstate the mortgage.

2. File a Chapter 13 bankruptcy

3. Refinance

4. Short sale


Mortgage companies are more open to negotiating with their customers during bad economic times. There are a variety of programs sponsored by the government and private institutions which make a mortgage company's loss mitigation department much more receptive to placing homeowners on a repayment plan or deferring mortgage payments to the end of the mortgage term. Our law firm will help you negotiate terms during this process.

If a mortgage company won't cooperate, then homeowners might consider filing a Chapter 13 bankruptcy . This type of bankruptcy can afford homeowners the opportunity to catch up with a mortgage arrearage under very favorable terms. By using this type of bankruptcy, the debtor may be able to solve all of his debt problems at one time. Our law firm is experienced in handling Chapter 13 bankruptcies and has a reputation for being very successful in garnering court approval.

It still may be possible to save your house by refinancing the delinquent mortgage. This method can be used if there is some equity in your real estate and your credit report is reasonable. Often the delinquent homeowner has not adequately explored this method.

If you decide that fighting to keep your house is not feasible, sometimes a short sale is possible. This is a technique whereby the mortgage company will allow you to sell the house to a third party for less than what is owed and release you from the balance of the debt.

If all else fails you may want to fight the foreclosure itself. The foreclosure process may take anywhere from six months to a year to be completed. You may actually have valuable defenses and counterclaims against your mortgage company that could actually prevent foreclosure and even require your lender to pay you damages. Across the country, judges are punishing mortgage companies for incomplete record keeping and for violations of the Truth in Lending Act. You may be able to allege valid defenses including fraud and Truth in Lending Act violations.

Are you aware that your mortgage company is probably not the same company that actually loaned you the money to buy or refinance your home? How do you know if the mortgage company suing you has been properly assigned your note and mortgage? Your mortgage company may have failed to properly assign the note and mortgage before initiating the foreclosure. Does your foreclosure complaint even have copies of the note, mortgage and purported assignment attached?

Most likely, these documents are not attached, and may not even be in the possession of your mortgage company . Your mortgage company may be attempting to substitute your original note and/or mortgage with a purported copy. This is called a "Count to Establish Lost Documents." There are strict legal requirements to establish a lost note or mortgage, and your mortgage company may be unable to meet the requirements if challenged.

Your mortgage company may have filed an improper foreclosure lawsuit, but your time is limited. You have or will be served a copy of the foreclosure complaint by a process server. You typically have only 28 days to respond to the mortgage company's complaint in state court, so you need to see an attorney immediately if you wish to defend yourself against the foreclosure. If you are beyond the 28 days, there are still defenses that can be raised.

Call the Law Offices of Philip R. Fine at 216-591-1455. I will fight for your home for you.