Skilled Representation in Bay Area Mortgage Foreclosure
At the Law Offices of David G. Finkelstein, our attorneys use their knowledge of real estate markets, commercial law and the mortgage industry to help clients on either side of a mortgage foreclosure situation. While we can and do advise commercial and residential borrowers about their rights and alternatives in distressed property situations, our law firm has developed an important practice niche on behalf of parties who stand to lose a great deal in foreclosure — junior and subordinated lenders and lienholders.
Call 866-567-9371 to discuss mortgage foreclosure with a seasoned lawyer
Most foreclosures are initiated by the senior lender after the mortgage payments go into default and workout attempts are unavailing. In a declining real estate market, there is every chance that the equity cushion protecting all parties' interests will have disappeared or gone negative.
Even if the first-priority mortgagee comes out unscathed, anyone holding a second or third mortgage, a home equity credit line, or a subordinated interest as an insider — such as an affiliate or guarantor with indemnification or contribution rights — stands to get wiped out.
Our lawyers know how to intervene on behalf of junior mortgage interests in order to share in the proceeds of a workout, protect the rights to a deficiency or maintain the integrity of the mortgage claim in hopes that an improving market will result in a recovery of collateral values.
The key to protecting the junior mortgagee's interest is to engage the borrower and senior lender early in the process to make clear that our client will not just go away. Unlike first-position mortgage interests, junior lienholders keep their rights to a deficiency judgment in California, and we know how to encourage all other interested parties to respect your claims.
We know how to protect junior interests in mortgage foreclosure
Sometimes our junior lienholder comes out of the workout with an improved collateral position negotiated in concert with the borrower and the senior mortgagee. Our familiarity with mortgage loan defeasance solutions can also point the way toward an arrangement that eliminates the senior mortgagee's position for substituted collateral, with the junior lienholder moving up the priority ladder.
Whether you are a subordinated lender or the holder of a judgment lien, we can protect your interests in ways ranging from challenging a short sale to suing on the deficiency. Your best approach will depend entirely on the specifics of your situation. To learn more about our experience with mortgage foreclosure in the Bay Area, contact a lawyer at the Law Offices of David G. Finkelstein in San Mateo.
