Legal Services

Your Options For Mortgage Foreclosure: The Right Lawyers

When a debtor can no longer meet the deadlines for repayment of a mortgage, creditors often use the foreclosure procedure. This recovery procedure goes through several stages and can last a few months up to 3 years in the event of an incident. You need the best lawyers for these works. This means that the bank or the lending organization which has an enforceable title can sell the real estate of its debtor by public auction.

The operation is done with the intervention of a lawyer and a bailiff. The fruits of sale will then be distributed to holders of receivables. The auctions take place at the courthouse, before the execution judge and not before the auctioneers. Several decrees frame this operation. From the mortgage foreclosure attorneys you can have the best options.


The pre-entry phase

Seizure of property leads to the forced sale of the debtor’s property. This allows creditors to recover the price of the sale of the property to pay off debts. It is obvious that the seizure of the property can only be done on the real estate property belonging to the debtor. From the car accident lawyers you can have the best deal now. A property in which the debtor is a shareholder will not be eligible for this procedure. Before the foreclosure of property, the creditor would have to make a statement of the debtor’s mortgage with the land registry service. He must also inform the command worth seizing of the creditors registered on the property seized.

  • The stages of this foreclosure procedure, however, leave the debtor the means to sell his property amicably in order to benefit from a more advantageous price than if it were sold at public auction. It is the creditor who implements this procedure. For this, he must have an enforceable title that he obtained through the use of the bailiff and the lawyer. The enforcement judge determines the procedure for the attachment. In the preparatory phase for this seizure, the bailiff delivers to the debtor a command worth seizure. From the right lawyer you need the best options now.
  • The latter warns the debtor one last time that if he does not pay his debt within 8 days, the accommodation or residence which belongs to him could be subject to foreclosure. If the debt due is not paid, the bailiff intervenes to make a report of the building to be seized. The command is the subject of a publication at the mortgage office of the place where the building is located within 2 months from the notification of the judgment. After this publication, the debtor no longer has the right to sell or give the building to a third party. From the injury attorney you can have the best supports now.

Within two months after publication, the debtor is summoned by the creditor to appear before the court in a hearing during which the judge takes into account the comments or disputes of two parties concerned. Before this hearing, it is also necessary to draw up a book of conditions of sale as well as a declaration of claims. The orientation hearing results either in the authorization of the amicable sale of the seized property, if the debtor has requested it, or in the order of its forced sale, or in the suspension, interruption or the end of the procedure. From the best law firm you will find the choices.

The amicable sale procedure

The debtor can make this request well in advance of the orientation hearing phase. In this case, he would have to notify his creditors of his decision. Failing this, he may also request it during the orientation hearing. Only the authorization of the judge allows this procedure. For this, the judge determines the minimum price below which the building in question cannot be sold, and this while respecting the economic context of the market. The personal options are present for you now. It is up to him to fix the hearing date for the finalization which will be within 4 months at the latest. Until this date, the debtor would have to take the necessary steps to sell the property. Note however that the creditor can request the termination of this procedure and initiate the procedure of forced sale of the property. It is an attorney that you can find for these matters.

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During the following hearing, if the debtor has a written agreement to sell, he is entitled to an additional 3 months to conclude the act of sale of the property seized. If the judge finds that the conditions required for the sale are fulfilled, he declares a final amicable sale. In the absence of a possible purchaser or if the conditions are not respected, the procedure of forced sale of property will be in progress. The attorneys are here with the best skills and experiences for the same now.

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