Minnesota Home Foreclosure Workout Lawyers
Helping People Throughout the Twin Cities
Whether you have fallen behind in your mortgage payments and fear foreclosure, or you have already received a foreclosure notice, you have rights and you have options. An experienced attorney can protect your interests, often working directly with your lender to identify ways to avoid foreclosure. Your lender does not want to foreclose; they would much rather work out a deal to get you back on track, but you need to work with them.
Licensed in Minnesota, North Dakota, Iowa, Wisconsin and Massachusetts
At the offices of attorney Wayne B. Holstad, in White Bear Lake and Edina, we have over 50 years of combined legal experience. We focus on client service, dedicating ourselves to providing effective and efficient representation at a reasonable cost. Because of our reputation for success, most of our new cases come to us as attorney or client referrals. Contact us or call us at 651-356-6464 (toll-free at 888-334-0118) to arrange a free initial consultation.
Our Home Foreclosure Workout Practice
Among the strategies that we will employ to avoid home foreclosure are:
- Home loan modifications: We will work directly with your lender to negotiate a change in the key terms of your mortgage, such as interest rate or length of the mortgage, so that the payments are within your means. If you have significant arrearages, we will attempt to roll the past due amounts into a new agreement, so that you get a fresh start.
- Refinancing of your mortgage: We will also work with you to see if you can find another lender to refinance your mortgage.
- Deeds in lieu of foreclosure: A deed in lieu of foreclosure will allow you to get out from under the mortgage by transferring title of the property to the bank in exchange for a forgiveness of all amounts due. You will not be able to keep your property, but you will avoid the consequences of foreclosure.
- Short sale: We can help you avoid home foreclosure through the sale of your property, including a short sale (where you sell for less than the amount due on your mortgage, but have any shortfall forgiven). There are tax consequences to a short sale, so we will carefully work with you to determine whether this is in your best interests.
Contact Us
To set up a free initial consultation, contact us or call us at 651-356-6464 (toll-free at 888-334-0118) for an appointment. We will arrange to meet with you offsite, if necessary. We accept all major credit cards.