If you have been served with a Summons and Complaint for foreclosure of your home do not delay in hiring an attorney to answer the Summons and Complaint.
You typically have twenty days from the date of service to answer the Summons and Complaint in some cases you may have thirty days to answer. You need to immediately contact an experienced foreclosure attorney if you want to save your house. The worst thing you can do is ignore what is happening, a foreclosure will result in you losing your home and may even result in a deficiency judgment being ordered against you.
Foreclosure Settlement Conference
If the foreclosure action is for residential property and it is your primary residence then a mandatory Foreclosure Settlement Conference will be scheduled. A representative from the Bank, usually their attorney, and the Judge will attend the settlement conference. The conference will give you and your attorney an opportunity to negotiate a settlement in lieu of foreclosure. If you are unable to come to a settlement agreement then the action will continue.
There are many defenses that can be used in a foreclosure action an experience foreclosure attorney can use these defenses to slow the action in order to buy time for you to get your finances straight or they may be able to defeat the action depending on the circumstances.