House foreclosure

House foreclosure

Many owners of homes in the USA end up losing their homes due to foreclosure. This is a situation where the house owner is unable to pay for the house. In other words, the owner of the house cannot afford to pay the mortgage.

In many cases, house foreclosure results from unethical methods employed by banks and lenders. House owners in the country have come to defend their rights. House foreclosure defence aims to help the owner of the house retain the house for a longer period of time.  This is usually done by exploiting legal loopholes and possible fraud on the end of the lender. For example, if the lender or bank gave the house owner a mortgage that was clearly unaffordable for the owner. Any other laws broken in the giving of the loan can also be used against the lender.

House foreclosure is, of course, initiated by the lender, and the lender stands to benefit from this. Almost all the time, the lender will have better understanding of the laws surrounding foreclosure. This puts the house owner at a disadvantage.

This can be changed by enlisting the services of one of our lawyers here at Collegeville Nahrgang and Associates.

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House foreclosure

Houses in Foreclosure


At all times, there are a number of houses in foreclosure. These houses are put up for resale. Buying a house in foreclosure is considerably different from the regular buying of houses. Such sales typically involve only one real estate agent. The seller will also require a pre approval letter from the lender before accepting an offer. Usually, the buyer has very little room for negotiation. The house is also just sold without any renovation. The buyer has to incur the cost of repairs and possible renovation.

If you end up unable to pay for your home, it will most probably get foreclosed and you will lose it. However, a foreclosure defence lawyer can help you get the best deal possible.

Foreclosure Properties: The Process

The process of getting a house foreclosed is initiated by the bank or lender. The process of foreclosure differs from state to state. In some countries, it is even not allowed by the law. However, in Pennsylvania, the lender of the mortgage can foreclose property of the owner is incapable of paying up.

The lender will then send the owner of the house an Act 91 notice. This informs the owner of his option to get a loan from the state to pay for the mortgage. If the owner does not qualify for the loan, the lender will file a complaint and send a copy to the owner. If the owner fails to respond within 30 days, then a judgment can be passed and the property foreclosed.

Houses for Foreclosure: How to Avoid Having Your House Foreclosed

  • How you can avoid having your house foreclosed:
  • Get in touch with your lender as soon as you start having money problems
  • Get professional help managing your finances
  • Adjust your mortgage terms. For example, you can negotiate for lower interest rates.
  • Get a forbearance if you are temporarily low on income
  • Get the terms of all offers in writing
  • Refinance your mortgage with another loan
  • Get a reverse mortgage
  • Sell your house
  • Declare bankruptcy
  • Give the lender your home
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I have dealt with Matt for a few years for a couple of matters for myself and for my mother-in-law. Matt has always been a man of his word; anything he said he would do was done as expected. He provided timely and accurate advice when requested. Matt never pushed services that were not required and at certain times he recommended less costly services that would achieve the same results. I highly recommend him as very honest and ethical. He always disclosed fees in advance and there were never any "surprise" fees.— jimcar13
Mr Nahrgang was easy to work with, and did an excellent job with my case. Though my case turned out to be more complex than we had originally realized, he handled every complication promptly and competently.— eyedoc89
I was first recommended to Matthew Nahrgang by a friend. I was having serious financial issues at the time. I went to Matt and had a conversation which set my mind at ease. He is straight to the point, honest and tells you how it is. No frills kind of guy. He also is confident in his business and knows the law very well, which is what set me at ease. It was not near a big deal as I thought it to be. He does what he says he is going to do and does it in a timely manner. I have used Matt a few times now and I've recommend him to many of my friends and business acquaintances. I highly recommend Matthew Nahrgang!— my1leelee
In relation to my bankruptcy and in retrospect, I was thankful that I had discovered Mr. Nahrgang and had engaged him to respresent me in my case. I found him to be respectful, understanding, highly knowledgeable and trustworthy. I appreciate all that he did on my behalf and have recommended him to friends and family.— Orangefit09
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The Collegeville, Pennsylvania based law firm of Nahrgang & Associates, P.C. represents clients in the counties of Montgomery, Bucks, Delaware, Chester, Berks, Philadelphia, Lancaster, Northampton and Lehigh including the communities of Collegeville, Jenkintown, Doylestown, West Chester, Reading, Media, Allentown, Norristown, Phoenixville, Quakertown, Pottstown, Lansdale, Royersford, Plymouth Meeting, Exton, Conshohocken and King of Prussia, PA.
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Nahrgang & Associates, P.C
35 Evansburg Road, Suite 3 Collegeville, PA 19426
Phone: 610-422-3651
Toll Free: 888-773-6714
Fax: 610-489-3042