Foreclosure & Evictions Group
We're Here To Help You Manage Your Foreclosure and Eviction Matters
We understand the importance of a strong default partner as the real estate market continues to suffer under peaks in delinquencies. With more and more mortgages underwater, lenders and servicers are demanding new thinking and new approaches to real estate default and loss mitigation. The Foreclosure & Evictions Group at Weltman, Weinberg and Reis Co., LPA (WWR) recognizes your need for innovative approaches and managed timelines to the ever-increasing demands of your real estate default portfolios. For over 30 years, our capable and experienced Real Estate Default team has been assisting mortgage lenders and servicers to resolve non-performing assets in a timely fashion.
The Real Estate Default Group at Weltman, Weinberg & Reis Co., LPA provides comprehensive legal representation to mortgage lenders and servicers. Representation includes, but is not limited to the following areas:
Foreclosure & Eviction
- Judicial and Non-Judicial Foreclosures
- Home Ownership Preservation Program
- Experienced Timeline Management
- Foreclosures
- Commercial & Consumer Evictions
- National Forwarding Program
Real Estate Title & Closing Services
- Title Examinations
- Contract Interpretations and Negotiations
- Deed Preparation
- Title Clearing
Understanding of Judicial and Non-Judicial States
We understand the importance of resolving obstacles to the process and timelines for both judicial and non-judicial states, and the need to communicate obstacles and resolutions to you in a timely manner. We take a proactive approach to maximizing our results through foreclosure or alternatives such as forbearance agreements, deeds-in-lieu of foreclosure, loan modifications, favorable settlements or consent agreements.
Home Ownership Preservation
WWR’s Real Estate Default Team is poised and ready to address your real estate defaulted accounts through loss mitigation or home ownership preservation – efforts designed to help you reduce the number of accounts going into foreclosure and the number of accounts in default. Since debtors frequently respond to WWR letters and calls, we encourage them to contact your loss mitigation department to swiftly resolve matters. Through our unique early-stage delinquency letter campaigns, pre-foreclosure outreach program, bankruptcy loss mitigation, programs focused on investment property borrowers and streamlined alternatives to judicial foreclosure matters, we are committed to helping reduce your real estate default portfolio.
Timeline Management
Utilizing our state-of-the-art case management system, Perfect Practice®, WWR can effectively and accurately measure, monitor and track timelines within specific counties and provide enhanced mechanisms for tracking bankruptcy and processing delays. With the expectations of investors like Freddie Mac and Fannie Mae as to the number of days a defaulted loan should take to get a foreclosure to sale, WWR can now advise you as to the number of days you can expect a court delay will take within a specified county. Our flexible status reporting makes it easier for you to monitor your portfolio with current status updates and anticipated next steps in the process for each account.
Our internal audit function is designed to monitor your portfolio and communicate the progress of files to our key management team, making sure the timelines for each milestone are being met per your expectations. Perfect Practice® enhances our internal auditing capabilities by ensuring that quality work is being produced, which in turn will make sure that our clients receive a clear and marketable title at foreclosure. Our standards of auditing are modeled after the internal auditing methods utilized by large financial institutions.
Summary of Foreclosure Procedures
Our Foreclosure Group is comprised of experienced real estate default professionals that are poised and ready to assist the mortgage lending and servicing community with innovative and thorough solutions to your real estate default needs in a timely fashion, by aggressively moving matters to resolution, offering debtors loss mitigation opportunities to help resolve loans, or producing clear and marketable titles as quickly as possible. Our team works with lenders to successfully and efficiently complete foreclosures, evictions, title services and real estate owned closings. We focus on the critical objectives of completing the process and producing clear title to the real property in the minimal amount of time. Our staff is effective in resolving obstacles to the process in both judicial and non-judicial states.
We take a proactive approach to maximizing recovery through foreclosure or alternatives such as forbearance agreements, deeds-in-lieu of foreclosure, loan modifications, favorable settlements or consent judgments. We communicate with clients through various vehicles including Lenstar, direct connectivity and email. Our fees are in accordance with the guidelines established by Fannie Mae, Freddie Mac, the Department of Veterans Affairs and the Department of HUD.
Summary of Eviction Procedures
WWR provides comprehensive commercial and consumer eviction services. We offer complete legal and handling for writ of possession by sheriff versus former owners of property and eviction versus tenants in possession by court action. Services include documentation, notices, court complaints, hearings, motions and lockout and vacancy dates. Timelines vary by state.
Comprehensive National Real Estate Default Representation
REDG services include our established national network of experienced real estate attorneys for issues outside of our footprint states of Florida, Illinois, Indiana, Kentucky, Michigan, Ohio and Pennsylvania. We remain actively involved with local counsel throughout the legal process to ensure that all cases are handled and reported effectively, providing you consistent levels of service and accountability in every state.
Real Estate Title & Closing Services
Thoroughbred Title Agency, Inc. (TTA) is a full service title agency specializing in title insurance for foreclosures and REO closings for mortgage lenders and servicers. It works hand-in-hand with its affiliate, the Real Estate Default Group of Weltman, Weinberg & Reis Co., LPA and clients to simplify the delivery of title work and save time in processing clear and marketable titles to real property.
