Best Foreclosure Lawyers in Scranton

About Foreclosure Law in Scranton, United States

Foreclosure is a legal process through which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments. This process is realized by forcing the sale of the asset used as the collateral for the loan, typically the borrower's home. In Scranton, Pennsylvania, foreclosure laws are influenced by both state and federal legal frameworks. Pennsylvania is predominantly a judicial foreclosure state, meaning the lender must file a lawsuit in court to initiate foreclosure proceedings. This provides the borrower the opportunity to contest the foreclosure in court.

Why You May Need a Lawyer

There are several scenarios where seeking the help of a foreclosure lawyer in Scranton can be beneficial or necessary. You may need a lawyer if:

• You have fallen behind on your mortgage payments and need guidance on potential foreclosure proceedings.
• You wish to challenge the foreclosure process on legal grounds or negotiate a loan modification.
• You need assistance understanding your rights and responsibilities under Pennsylvania foreclosure laws.
• You are facing wrongful foreclosure or believe lender misconduct has occurred.
• You want to explore alternatives to foreclosure, such as a short sale, deed in lieu of foreclosure, or refinancing options.

Local Laws Overview

In Scranton, as part of Pennsylvania, there are key local laws and regulations that impact the foreclosure process:

• Judicial Process: Since Pennsylvania is a judicial foreclosure state, the process begins with the lender filing a lawsuit in court. There will be a court hearing where you can raise defenses or contest the foreclosure.
• Homeowner Notice: Lenders must send detailed notices to homeowners before initiating foreclosure, allowing them to correct the default or take other actions.
• Right of Redemption: Pennsylvania law allows borrowers a redemption period, where they can reclaim their property by paying the full amount of the loan before the foreclosure sale is confirmed.
• Deficiency Judgments: Lenders in Pennsylvania can seek a deficiency judgment against borrowers if the foreclosure sale does not cover the full loan balance, holding the borrower responsible for the remaining balance.

Frequently Asked Questions

What should I do if I receive a foreclosure notice?

Upon receiving a foreclosure notice, it's crucial to act quickly. Contact your lender to discuss your options and consult a foreclosure attorney to understand your legal rights and explore potential defenses.

Can I stop a foreclosure once it has started?

Yes, it is possible to stop foreclosure through legal defenses, loan modification, refinancing, or filing for bankruptcy. However, the success of these options often requires the guidance of a skilled attorney.

How long does the foreclosure process take in Scranton?

The foreclosure process timeline varies but can take several months to over a year, depending on court schedules and whether the homeowner contests the foreclosure.

Can foreclosure be avoided through loan modification?

Loan modification is an effective measure for many borrowers, allowing the terms of the loan to be altered to make payments more manageable and avoid foreclosure.

What is the 'loss mitigation' option?

Loss mitigation refers to steps lenders take to work with borrowers to avoid foreclosure, such as short sales, loan modifications, or deeds in lieu of foreclosure.

Are there government programs available to help?

Yes, several federal and state programs, like FHA programs, may assist in preventing foreclosure by offering financial assistance or loan modification options.

What happens to my credit after foreclosure?

Foreclosure negatively impacts your credit score and can remain on your credit report for up to seven years, making it more challenging to obtain loans or credit in the future.

Is it possible to repurchase my home after foreclosure?

Pennsylvania law provides a right of redemption where you may be able to repurchase your home by paying the full foreclosure sale price within a certain time frame.

What are common defenses against foreclosure?

Common defenses include improper service of the foreclosure lawsuit, failure of the lender to follow legal protocols, errors in the loan balance, or lender violations of aforementioned laws.

How can I find a qualified foreclosure attorney in Scranton?

Seek referrals from trusted sources, research local law firms with strong real estate or foreclosure law expertise, and consult the Pennsylvania Bar Association for qualified attorney listings.

Additional Resources

For further assistance regarding foreclosure, consider reaching out to the following resources:

• Pennsylvania Housing Finance Agency (PHFA) - Offers programs and financial counseling to homeowners facing foreclosure.
• U.S. Department of Housing and Urban Development (HUD) - Provides housing counselors that offer guidance on avoiding foreclosure.
• Legal Assistance of Northeastern PA - Nonprofit legal services for qualifying individuals facing foreclosure.

Next Steps

If you're facing foreclosure or need legal advice on the matter, consider these steps:

• Contact a reputable foreclosure attorney to discuss your situation and explore available options.
• Gather all relevant documents, including your mortgage, any communications from the lender, and foreclosure notices.
• Attend any scheduled court hearings and be prepared to present any defenses you may have with your attorney.
• Explore financial counseling services or local governmental programs that may assist you in retaining your home.
• Stay informed about your rights and responsibilities during the foreclosure process to safeguard your interests.