Foreclosure Fees (Foreclosure Defense)
Everyone is cost conscious today and a client's first question is usually how much will this cost me so I answer that question first. Fees do vary by the type of representation needed. If there was one fee that "fit every person" then the representation necessary for each person should be the same. Representation is not "one size fits all" but varies by each person and each case. The exact fee will be agreed upon during our first free consultation, can be made in payments, but in general the fee is as follows:
"Standard" foreclosure defense $ 1,500.00 (min. initial fee $650)
Includes review of all foreclosure documents filed, all initial loan documentation, filing of an answer and affirmative defenses (where appropriate), office consultations/telephone calls/emails, and attendance at up to three court hearings.
The fee is not "time" based but is "work" based. A foreclosure action can take over a year when properly done so the fee is not limited to services provided for a certain time period with you having to pay another fee because your case has taken more than a set amount of time but is for the time that your case takes.
Based upon a review of your documents, we may decide that you also have an action against your lender for improper collection practices or other grounds. Also, you may want to modify your loan, pursue a short sale (it is very important that you do not obligate yourself to pay the Realtor a commission unless you accept the short sale terms which include a release of liability), or file bankruptcy. Your case may warrant discovery. Your case may include issues of improper loan origination procedures, inflated appraisals, or bad faith dealings. Depending on your situation a fee that is reasonable will be agreed upon. If there are costs involved you will be responsible for paying those costs. An example of a cost is if your lender employed improper collection practices a counterclaim for statutory damages can be filed but the clerk charges a filing fee.