There has been good news on the foreclosure front recently in the Pittsburgh region: foreclosures are down. You can read it in the local newspapers, and you can sense it in the air.
There are many reasons for this. First is the economic recovery. Yes, it is slow, but there is no doubt that the situation here and across the country is better than four years ago.
There are other reasons. There has been a backlog of foreclosures that the mortgage companies just haven’t processed before. These are now working their way through the system. In addition, there is no doubt that mortgage companies are doing much more preventative work before engaging in the foreclosure process. Mortgage modification attempts are now the rule rather than the exception for those who have fallen behind in their payments.
And, though several years late, finally the mortgage companies are bringing some sort of competence to the process. For years, the only story I heard from my clients was that they sent papers, they were told the mortgage companies didn’t receive them, then repeat… and repeat… and repeat. Now it seems like the mortgage companies have honed the process, at least in comparison to what it once was.
What about your situation? What if the process hasn’t worked for you, or you are in the middle of it and it doesn’t seem to be working fast enough to head off a Sheriff’s Sale? That is when you need to speak with competent counsel, like the attorneys here at Steidl and Steinberg. We’ll go over your options and let you know what’s possible. Wouldn’t you feel much better if you knew that no matter what the mortgage company decided, you have a backup plan?