Deficiency Defense Attorney in Phoenix

Are you being sued for a deficiency?

Where a lender has taken property after a foreclosure or trustee sale, the lender may then proceed to sue the borrower in a deficiency lawsuit. This would be for the difference between what the property brought at the sale and the total amount of the loan. Fortunately there are defenses to these lawsuits. You are urged to contact a real estate law lawyer in Phoenix from the legal team of Schern Richardson Finter for legal help.

Foreclosure is already a homeowner's worst nightmare, and things may only seem to get worse if you lost your home only to find that you are now facing a deficiency lawsuit based on the difference between the amount of your loan and the amount of money the lender was able to get from selling the property. In these situations, your financial future may be in serious danger. Involve a real estate attorney who has the knowledge to know what to do and the tenacity to protect your rights to the fullest extent inside and outside of the courtroom. There are viable defenses to deficiency lawsuits, and with our experience in representing homeowners and borrowers throughout the Phoenix area, we are familiar with these.

Phoenix Deficiency Defense Lawyer

If you are being sued for deficiency, you may get effective help from the legal team at our firm. We have provided legal representation to homeowners in Phoenix for years and are exceptionally qualified in resolving these matters. If you have just lost your home, that is bad enough. Now you are being sued by the lender for the difference between what you owe and the amount they obtained at the sale. Under Arizona law you have a total defense if your home was a residential dwelling, used as a single family dwelling and took up less than two and one-half acres. We will need to use other legal remedies where the home was a secondary one or you are being sued by a junior lien holder with whom you refinanced your house to get funds for living expenses. By talking to you about what has occurred and by reviewing all aspects of the lawsuit against you, we will determine how to best approach your case and defend your interests.

Defense of Suits

When we are retained by a borrower we investigate the situation. In the case of homeowners being sued for deficiency on the original mortgage, we take a hard line. In other situations we review the circumstances to assess the strength of our position and then work for best possible resolution. Where liability is clear, we seek a negotiated settlement favorable to our client. Where necessary we also evaluate the use of bankruptcy to provide protection to the client.

Contact a Phoenix deficiency defense attorney at the firm for aggressive defense against a deficiency lawsuit.