What options does a creditor have after a borrower defaults?
There are a variety of legal mechanisms by which a creditor can assert the legal right to recover an unpaid debt. LawInfo Lead Counsel qualified real estate attorneys provide quality representation for banks, pension funds, insurance companies and other institutional lenders, and worked on all property types from singlefamily suburban land development to downtown office buildings in negotiated restructurings, bankruptcies and foreclosures of distressed investments. They are well versed in the specific laws and legal techniques associated with distressed real estate loans, including:
· Mortgage foreclosure
· Consent foreclosure
· Deed in lieu of foreclosure
· Single asset bankruptcy, including "cram down" analysis, lift stay and bad faith filing
· Restructurings
· Uniform Commercial Code (UCC) sales
· Negative amortization
· Springing guarantees
· Consolidations and spreaders
· Lock boxes
· Participating mortgages
· Debt to equity conversions
· Secured debt to mezzanine conversions
· Mezzanine debt foreclosure
· Debt sales
· Receivership Mortgagee in possession
· Nonrecourse carveout analysis and collection
· Ground lease terminations
Additional Civil Mortgage Loan Fraud FAQs
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Q:
What is a loan modification, and how will it help me with my mortgage?
A: A loan modification occurs when a homeowner enters into an agreement with his or her mortgage loan servicer to change the terms of the mortgage. The goal … More -
Q:
What do I need to give to my loan servicer if I am requesting a loan modification?
A: You are likely to need the following documents for your loan modification request: · Recent paystubs or … More -
Q:
Will I be ineligible for a loan modification under the Homeowner Affordability and Stability Plan if I am current in my mortgage payments?
A: No. You may still be eligible for a loan modification under the Homeowner Affordability and Stability Plan if you are current in your mortgage payments, but you are … More -
Q:
What is required of me to get a loan modification? Will it cost me anything?
A: Generally, you must contact your loan servicer about whether your mortgage loan is eligible for a loan modification under the Homeowner Affordability and Stability … More -
Q:
Does a loan modification reduce the amount of money that I owe on my mortgage loan?
A: Not usually. Most loan modification programs just changes the terms of your loan, not the amount that you owe. However, if you successfully … More
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