Below is a foreclosure process and RE attorneys that are helpful in this area:
Alfred P. Boland, Attorney at Lawhttp://maps.google.com/?cid=7151208254510111691s=9923205984599728973 - http://www.bolandfirm.com
4000 Legato Road, Suite 1100, Fairfax, VA - (703) 896-7678
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Foreclosure Defense Lawyershttp://maps.google.com/?cid=17356014648046276732s=9923596244037358035 - paymentreduction.net
5200 Duke Street, Alexandria, VA - (206) 337-7658
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Customer misses mortgage payment.
Late notice send by bank.
Customer misses additional payments.
Bank attempts in writing and by phone to contact customer and resolve situation.
No arrangements are agreed upon and customer continues to miss payments.
Bank issues demand for payment under the note in full, based on the acceleration clause. Most mortgage notes contain language which basically says if you fail to pay the bank under the terms of the note with monthly payments as promised they can accelerate the note, meaning that the full amount is due on demand. For example if your mortgage is $100,000 with payments of $1000.00 per month you are only required to pay $1000.00 per month unless you miss these payments and the bank subsequently demands the balance based on this acceleration. Once this happens you legally owe the full balance of $100,000.00 plus back interest, plus late charges, plus legal fees all at once. You will find from this stage on the bank will not accept monthly payments. They will instead demand much more to reinstate the loan. Although I consider this step in the pre foreclosure category, once demand has been made and the note has been accelerated you should already have contacted an attorney who is an expert in dealing with these matters.
No payments or arrangements acceptable to the bank are made.
Formal Legal Foreclosure Process
Bank sends by sheriff or by certified mail Notice of Intent to Foreclose.
Bank begins action in the court system to foreclose.
Legal notices (see soldiers and sailors notice below) as required by law begin to be published in local papers.
No payment or settlement arrangements are made with the lender.
Notice and waiting periods expire.
Court holds hearing regarding banks claim.
Court issues order allowing bank to foreclose. (Beware, one foreclosure firm will begin 2 and 6 at the same time shortening the process.)
Legal notice of actual foreclosure sale and advertisements published in local papers.
No payment arrangements or settlements reached with the bank.
House sold at auction to highest bidder.