Foreclosure For Lenders Services
In today’s economy, more people than ever face the threat of foreclosure. As more people are losing their homes, banks and other lenders are also faced with difficult issues: What are my obligations to tenants? What are the steps involved in foreclosure? What are my lender rights?
At the law firm of Beckman Feller & Chang, we advise banks, mortgage companies, and other lenders in foreclosure issues. For more information, contact our law office in San Francisco by calling 415-766-0647.
How Foreclosure Affects Lenders
For banks and mortgage lenders, foreclosure is a costly and time-consuming process. Foreclosure greatly affects a lender’s profitability. Not only does a single foreclosure end in profit loss, the lender’s business may be affected in the future. Some of the costs associated with a foreclosure include:
- Lost principal
- Lost interest
- Property taxes
- Insurance costs
- Property maintenance
- Collection costs
- Foreclosure process costs
- Service and administrative costs
- Court costs, when applicable (especially when mortgage fraud is an issue)
Lenders: How We Can Help
Our real estate attorneys are experienced in a variety of foreclosure matters. If you are a lender involved in foreclosure matters, we can help you with the following:
- Notice of sale requirements
- Foreclosure qualifications
- Eviction matters
- Obligation to tenants
- Mortgage fraud
- Tax and insurance matters
- Real estate owned properties (REO)
- Post-foreclosure issues
We know that foreclosure is a significant financial responsibility for banks and other mortgage lenders. We are committed to helping lenders deal with the legal issues which may be involved in a foreclosure – from mortgage fraud to falsified documents – in a straightforward and results-oriented manner.
Do you have questions about the mortgage terms? Do you have concerns about foreclosure disclosure? Contact our lawyers in San Francisco at 415-766-0647 or Berkeley at 510-548-7474 to schedule a time to meet for a free consultation.