For those people who have been a victim of predatory lending practices, the prevention of foreclosure on their homes is the most important consideration they have. prevention of foreclosure is the number one concern for clients that go to CDA Law Center for help. This is the process where your mortgage or other lien holder obtains a court ordered termination of your equitable right of redemption, usually after you have failed to make the payments under the terms of your agreement. Once you have defaulted on your loan, you may receive a “Notice of Default” and then the foreclosure process continues until the lender takes your property and will often put it up for sale. Proceeds from the sell of your home will go towards paying off the mortgage costs and for any legal costs for the foreclosure.

prevention of foreclosure is most likely to be obtained by documenting that you are experiencing a financial hardship. If your finances are preventing you from making your payments in a timely manner and you can show that you have a desire to keep your home, CDA Law Center can represent your legal interests to your lender and renegotiate your existing loan. They have the experienced case managers, paralegals and attorneys to build a case and notify your lender that you are represented by legal counsel in the hopes of causing the prevention of foreclosure. Some of the examples of hardship include business failure, health issues that prevent you from working, a new lower paying job or loss of income, death of a spouse or other family member, or a divorce or separation.

CDA can help with prevention of foreclosure by getting you more favorable loan terms in a number of ways. You may get a lowered interest rate or have your monthly payment reduced. If you own more on your home than it is worth, you may even be able to get the lender to forgive some of the principal on the loan. Sometimes lenders will allow you to add missed payments to the principal balance or they will provide you with a structured repayment plan for past due balances. The loss mitigation services from CDA will help save your home by preparing a financial plan to your lender that you can afford.

CDA will analyze your financial situation as well as the terms and income you made when you were approved to determine if you were a victim of predatory lending and they can obtain prevention of foreclosure. All the facts surrounding your case will be presented by your attorney so that the lender is forced to renegotiate your terms for prevention of foreclosure. Since loss mitigation departments are trained to put you off and not address your issues, having an attorney on your side will force them to address the merits of your case and produce positive results. At www.CDALawCenter.com, you will find the professionals that know what your rights are and how to best approach the other side. Get CDA on your side and you will have a greater chance of stopping foreclosure and saving your home.