Experienced Lawyers in MARYLAND, THE DISTRICT OF COLUMBIA, AND VIRGINIA.
Obtaining possession of your collateral after completing a foreclosure action is fraught with liability, and it is particularly important to seek experienced local counsel in this regard. If you can’t take possession of your collateral, this may inhibit, or prevent altogether, your ability to resell you collateral in “REO” and recover your money, and, sometimes, adding insult to injury, occupants may cause “waste” to your collateral decreasing its value before you have an opportunity to liquidate it. Occupants may be protected under federal and/or state tenant protection laws, and rights may differ depending on whether the property is occupied by a tenant, squatter, or former owner. Further there may be local laws governing your rights to “self-help” repossession (i.e. without court assistance), as well as your rights to demand and recover rent from any tenant post-foreclosure. A frequent question when handling possession actions, is what the rights and responsibilities are of the parties to the foreclosure, as to any personal property remaining in the foreclosed real property. Firm attorneys are experienced in handling contested eviction matters, as well as coordinating negotiated agreements such as “cash for keys.” If necessary, however, we can effectively manage the process from required notices through lockout. You can feel confident that we are here to help guide you through this complex process.