Castle Law Group

Castle Law Group specializes in actively defending mortgage foreclosure lawsuits with the litigation goal of preventing deficiency judgments or getting the lender to agree to refrain from pursuing a deficiency. Ben offers a flat fee Pre-Foreclosure Short Sale Consultation in which he advises and educates clients on the pros and cons of short sale a... nd how to structure your finances to give you the best chance for success. He also evaluates the lender's short sale approval letter to ensure his clients certain protections. Castle Law Group helps clients decide if a short sale is right for them by explaining the risks and potential rewards relative to our clients' unique financial situation. Many of our clients can presently afford to continue to make the mortgage payments, but need to get out from under the property in order to retire, to relocate, to downsize, to upsize, etc. While every situation is unique, for many of our clients, putting their financial house in order prior to attempting a short sale is critical to increase the likelihood of a successful short sale, to decrease the risk of the lender requiring a financial contribution towards the deficiency, to plan for contingencies that may arise during the short sale process, and deciding when to pull the trigger. In a short sale, proceeds from the sale of the mortgaged property fall "short" of the mortgage loan balance owed by the homeowner - so the lender or bank must agree to release the mortgage lien (allow the homeowner to sell the home) for less than the outstanding debt. The short fall, or the difference between the amount owed on the home and the proceeds from sale is called a "deficiency" and can still be owed by the original homeowner/seller even after the property has now been sold in short sale. A short sale may be accomplished prior to or during a foreclosure suit. It is important to remember that if the lender has filed a foreclosure suit, responding to the lawsuit is critical. If you do not timely respond to the lawsuit, you put your rights ...Read More