The Importance of answering a Foreclosure Complaint
If you are behind on your mortgage, you should be receiving various notifications from the bank suggesting that if you do not pay up, they will take away your home. Frequently when Homeowners receive these notices they either:
1. Don’t fully understand what is going on,
2. Think that the bank is bluffing,
3. Think they have enough time to fix the situation with the bank.
4. Simply ignore the situation.
However, when a deputy or process server comes to your house or finds you and gives you a Summons and Complaint, you as the Homeowner had better take IMMEDIATE action. The Summons and Complaint means that the bank has started a lawsuit against you to foreclose on your property. In other words the bank is asking the Court to take your home away from you and give it back to the bank.
No matter how much money you have already put into your home, the bank can take it away if your payments fall behind. When you receive this complaint, you have 20 days to respond. Your response needs to be to the COURT. Some homeowners think that contacting the bank alone after they receive the Complaint is enough, however the Court needs to receive an answer in the Court file or else you will be Defaulted and have no further rights in the court proceedings.
Receiving a Summons and Complaint is not the end of the world. It does not mean that you will automatically lose your home. There are many defenses to a foreclosure action and many alternatives to losing your home to the bank! Some of these alternatives might include a modification of your loan, a deed in lieu, or a short sale.
In order to save your home or explore other alternatives, you MUST file an Answer to the Complaint with the proper defenses in a timely manner. The attorneys of Moss & Wilson can help you! It is extremely important to address the situation as soon as possible.
If your home is in foreclosure or you think it may be headed that way, call the Law Offices of Moss & Wilson at (877) 538-6294 for your free Foreclosure Defense Consultation.
