Roddy Lanigan explains what it means and what you should do if you’re served with a foreclosure complaint in a recent video on YouTube.
You Don’t Have to Leave Your Home
“It doesn’t mean you have to abandon a property tomorrow merely because you have not paid your bills,” Roddy Lanigan said. “You are still the title and record holder of that property. You own the deed and title to it; it’s yours. The bank merely lent you the money to buy the property. Now it’s their obligation to foreclose on their security interest.”
This means that if you answer your foreclosure complaint in a timely manner you are going to have options. It’s going to be about a six to nine month process so when you’re about six to nine months late on your mortgage, this is when you’re going to get served with a foreclosure complaint. Sometimes before, sometimes after.
But generally speaking, Roddy Lanigan explains that this is the general timeline in which foreclosure happens.
20 Days to Answer Foreclosure Complaint
Once you’re served with the foreclosure complaint the summons on the complaint will explain that you have 20 days to answer this complaint the most important thing you can do at that time is to go speak to a lawyer immediately.
Roddy explains that If you wait the 20 days and you haven’t answered the complaint this is when you can experience problems. This is when when the foreclosing lender can get a default judgment and default against you.
And a default judgment is then going to get you out of your home faster than if you were going to go another route in resolving or answering the foreclosure complaint
The First Thing to Do: Call a Lawyer
The proper thing to do is to immediately go see an attorney. Start the process of answering the foreclosure complaint.
Here Are Your Options:
- Take the initial steps necessary to either
a.) Try to work out your home loan in mediation or
b.) come up with an alternate plan
- Set up a mediation.
- A short sale.
- A deed in lieu of foreclosure
- There are many other plans, but you have to answer. A complaint unanswered could be disastrous for you.
What you really want is that complaint answered because that starts the process whatever process that may be. It might be go to mediation. It might be deed in lieu of foreclosure it might be short sale. But the most important thing is that you go see an attorney. Don’t wait. In a foreclosure situation timing is absolutely imperative.
What’s Next? Follow Through on What Attorney Advises
The most important thing you can do is after you’ve been served with a foreclosure complaint, not next week, not the week after, not three weeks from then, the next day have a scheduled appointment with a licensed attorney. Do exactly what they explain.
One of the fears that people generally have with a foreclosure is that they are going to be immediately ejected from their home upon service of the complaint. It’s important once you’re served with that complaint to go engage an attorney to represent you in the matter.
On average a foreclosure in Central Florida is taking between 12 and 24 months to complete. But the number one thing you should look for in a forclosure attorney is one that understands the economics of foreclosure. Does your foreclosure attorney actually understand how the banks operate and what they’re doing on their end?
If you have an attorney that understands those things it’s going to be more likely for you to be able to work out a deal in mediation.
In addition to Eric and Roddy who handle all the legal matters they have non-attorney staff who handle mortgage workouts. These are team members that have years of experience in the mortgage industry and they know how to communicate with the banks. They speak the banks’ language and they understand what it takes to get a mediation and a deal done.
Lanigan and Lanigan Personally Handle All Foreclosure Cases
Many of the foreclosure defense firms in Central Florida and south Florida use paralegals for the majority of thework because foreclosure is primarily form driven.
But every pleading, every file is signed by Eric and Roddy Lanigan. It’s prepared by them, it’s not prepared by a paralegal and then placed on their desk for signature.
When you come to Lanigan and Lanigan either Eric or Roddy are personally overseeing your case. They feel that clients’ cases are best handled when they personally prepare the pleadings. They sign them personally and when you have a question on your case, you speak to Roddy or to Eric Lanigan about it. Not a secretary.
Lanigan and Lanigan is a family firm, a small firm that purposely made the decision not to go big.