Foreclosure is the process whereby a lender takes back a property because a borrower has breached his or her promise to pay back the borrowed money. The foreclosure usually takes place without the assistance of the court, but in some instances a lender may initiate a lawsuit to take back and sell the property.
If you are facing foreclosure, real estate attorney Jeffrey D. Poindexter can probably help. It may be the case that the lender has not complied with the controlling law, and the court system can be used to stop the foreclosure. More frequently, once the foreclosure process has started, it cannot be stopped because the borrower does not have the financial ability to pay back the borrowed money. Even in this situation it is a good idea to speak with a real estate attorney. Understanding the process, and having a competent attorney on your side, will make an unpleasant event more tolerable.