WHAT WE DO
Foreclosure proceedings can threaten your most valuable assets and disrupt business operations, but property owners have significant rights and defenses available under Texas law. Whether facing residential or commercial foreclosure, or seeking to negotiate workout solutions, having experienced legal counsel can mean the difference between losing your property and finding a path forward.
At The Pettit Law Firm, we understand that foreclosure cases often involve urgent timelines and high stakes. Our experience with lender liability claims, real estate litigation, and complex commercial disputes positions us to effectively defend foreclosure actions while simultaneously pursuing workout negotiations when appropriate.
Workout and Modification Negotiations:
- Loan modification negotiations and applications
- Deed in lieu of foreclosure arrangements
- Short sale negotiations and approvals
- Forbearance agreement negotiations
- Commercial workout and restructuring discussions
- Cash for keys negotiations
- Assumption agreement modifications
Foreclosure Defense Strategies We Employ:
- Challenging procedural violations in foreclosure notices
- Identifying predatory lending practices and TILA violations
- Pursuing wrongful foreclosure claims and damages
- Challenging chain of title and note ownership issues
- Asserting borrower defenses under state and federal law
- Seeking temporary restraining orders and injunctive relief
- Defending against deficiency judgment claims
- Pursuing claims for improper servicing practices
REPRESENTATIVE EXPERIENCES
Achieved favorable settlement during jury deliberations in lender liability case – Successfully resolved complex dispute involving lender’s failure to properly maintain escrow account and wrongful foreclosure initiation, securing significant recovery for client while jury was deliberating
Secured emergency injunctive relief stopping dozens of foreclosure sales – Obtained temporary restraining orders protecting client properties while pursuing legal defenses and workout negotiations
Successfully negotiated complex commercial loan modifications – Achieved favorable restructuring terms for business clients facing commercial foreclosure proceedings
Won wrongful foreclosure litigation with substantial damages – Pursued lenders for procedural violations and improper foreclosure practices resulting in significant client recoveries
Obtained $500,000 punitive damage award against reverse mortgage lender – Demonstrates our capability in pursuing lender misconduct claims in foreclosure contexts
Successfully defended against deficiency judgment claims – Protected clients from post-foreclosure liability through procedural and substantive defenses
Negotiated favorable deed in lieu arrangements – Achieved client objectives while avoiding foreclosure proceedings and protecting credit ratings
Represents lenders and servicers in foreclosure proceedings – Our comprehensive understanding of both sides of foreclosure litigation benefits our defense clients
Extensive experience challenging foreclosure procedures throughout Texas, identifying violations of notice requirements, acceleration procedures, and sale conduct
Commercial Foreclosure Defense: Commercial properties face unique challenges in foreclosure, including complex guaranty issues, cash flow disruptions, and business operational concerns. We defend commercial foreclosures while protecting ongoing business interests and exploring creative workout solutions.
Residential Foreclosure Protection: For residential properties, we focus on homestead protections, regulatory compliance issues, and consumer protection laws that may provide defenses or negotiating leverage with servicers and lenders.
Emergency Relief and Injunctions: When immediate action is needed to stop a foreclosure sale, we can seek emergency court intervention through temporary restraining orders and preliminary injunctions, providing time to pursue defenses or negotiate solutions.
Post-Foreclosure Remedies: Even after foreclosure sales, property owners may have remedies available including wrongful foreclosure claims, surplus fund recovery, and challenges to deficiency judgments.
Regulatory Compliance Issues: We identify violations of federal and state lending regulations including RESPA, TILA, FDCPA, and Texas foreclosure statutes that can provide powerful defenses and damage claims against lenders and servicers.
Our approach combines strategic litigation defense with strategic workout negotiations. We understand that preserving client relationships with lenders may be important for future financing needs, but we never compromise our clients’ legal rights in pursuit of amicable resolutions.
FAQs
Time is critical in foreclosure defense. Texas law provides specific notice periods, but once the foreclosure process begins, deadlines move quickly. Contact an attorney immediately upon receiving any foreclosure-related notice to preserve all available options.
Potentially yes, through emergency court intervention, workout negotiations, or by curing the default. We can seek temporary restraining orders to halt foreclosure sales while pursuing legal defenses or modification negotiations.
Common defenses include procedural violations, improper notice, servicer errors, predatory lending claims, lack of standing to foreclose, and violations of federal lending regulations. Each case requires individual analysis of the loan history and foreclosure procedures.
Yes, many lenders prefer modification to foreclosure due to costs and risks involved.
A deed in lieu involves voluntarily transferring property to the lender in exchange for release from the mortgage debt. This can avoid foreclosure proceedings and may provide better credit protection than completed foreclosure.
In Texas, deficiency judgments are possible but subject to specific procedural requirements and limitations. We defend against deficiency claims and challenge improper foreclosure procedures that may eliminate deficiency liability.
Commercial foreclosure can disrupt business operations, but tenants and business owners may have rights including lease protections, relocation assistance, or workout options. Early legal intervention can help protect business continuity.
Texas foreclosure timelines vary but can be relatively quick – sometimes 21-30 days after proper notice for non-judicial foreclosures. However, legal challenges, workout negotiations, or procedural issues can extend timelines significantly.
Payment strategies during foreclosure depend on your specific situation and legal strategy. We can advise whether continued payments help or hurt your position based on your goals and available defenses.
Contact Us
Want to talk about your case?
Email jpettit@pettitfirm.com
Or contact us at:
The Pettit Law Firm
1900 Pearl, Suite 1740
Dallas, TX 75201
Phone: 214.329.0151
Fax: 214.329.4076