Loss Mitigation and Foreclosure Services for Lenders
Your business faces unique issues. You have probably been frustrated when working with law firms who do not appear to understand your business. They may be confused by the fact that you make business purpose loans secured by residential property and think that these are consumer loans. They may treat your transaction like a large commercial real estate loan when the transaction is much less formal and sophisticated. Our lending compliance attorneys are here to provide you the support you need to have peace of mind.
Practice Areas:
Overview
Loss Mitigation
Our loss mitigation attorneys are often called because the client wants to start a foreclosure proceeding. We can provide multiple alternatives to make the loan re-perform and avoid potentially expensive and emotionally exhausting fights with your borrower.
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Clients Served
Proudly serving more than 5,000 clients nationwide, from emerging lenders to industry leaders.
Loan Modifications
Did your borrower run out of construction funds in the middle of the project and you might inherit a half-completed property? Is the Borrower in a dispute with their tenants and can’t pay you because of it? Our team has seen all kinds of defaulted loan scenarios and have figured out creative, loan specific solutions. We negotiate with your borrowers to come to an amenable solution for everyone.
Forbearances
Did the maturity date of your loan run up and the borrower needs a couple more months to sell or refinance the property? Is there a partnership dispute with your borrower and they need time to resolve the dispute? Our forbearance attorneys understand when a forbearance is necessary, the best terms to include in your forbearance agreement, and how to ensure your agreement’s success.
Deeds in Lieu of Foreclosure
Do you have a borrower who got in a bit over their head and they just want to hand you the keys to the property? Our team will make sure that you have ironclad agreements, proper insurance in place, and no potential pitfalls with 3rd party creditors who may harm your lien priority.
Foreclosure
After exhausting loss mitigation alternatives, it may be time to move to a foreclosure so you can get the collateral for your loan back. Our law firm acts as foreclosure trustee in California and can file a Notice of Default on your behalf and proceed through the foreclosure process. Most importantly you will have a team of Forbearance attorneys at your disposal who can expertly guide you through the process, provide you strategic advice on how to best proceed, and if necessary defend you against any type of litigation or bankruptcy that may happen because of the foreclosure. Outside of California we partner with industry experts who can help you in all 50 states.
Related Services
Explore Our Practice Areas
Fortra Law supports lenders and financial institutions across a range of related practice areas. Explore additional services that may support your transaction, compliance needs, or broader business operations.
Media
Insights from Our Team
Explore attorney-led discussions covering loss mitigation strategies, foreclosure alternatives, loan workouts, borrower negotiations, and other issues impacting mortgage lenders and servicers.
Reference Links
Loss Mitigation Resources
Browse articles, legal updates, and practical resources covering loss mitigation programs, foreclosure alternatives, borrower assistance options, and servicing compliance considerations.