Residential Mortgage Foreclosures – Lender Services
Palumbo Law provides complete foreclosure services throughout the state of Rhode Island.
We represent lenders only.
We do not offer foreclosure defense services.
A Rhode Island Foreclosure Lawyer can help you:
- Provide the initial notice of default/right to cure/intent to accelerate;
- Order Appraisals of real estate if required or requested;
- Order broker’s price opinion if required or requested;
- Order title, bankruptcy, federal tax lien and judicial records searches within 24 hours of receiving referral;
- Provide all required notices of acceleration and notice of non-judicial foreclosure sale;
- Prepare and service of Notice of Non-judicial Foreclosure Sale;
- Handle borrower inquiries regarding and follow your instructions in negotiating reinstatements, payoffs or forbearance plans with the borrowers;
- Prepare all supporting foreclosure documentation, (Demand letters, Notice of Non-judicial Mortgagees Sale, Notice to Appropriate Government Entities, Notice to Investor, Notice to Mortgage Insurance Co., Ad for newspaper, Memo of Sale, etc.);
- Provide whatever reports you require in any format you specify;
- Provide you with copies of the Demand letters, Acceleration letters, Notice of Non-Judicial Mortgagees Sale, IRS Notice (if applicable), Title work and Tax Certificate (if applicable), etc;
- Conduct the non-judicial mortgagee sale on the first available sale date pursuant to your bidding instructions;
- Fax or email foreclosure sale results by 5:00 p.m. on sale day;
- Prepare all post-sale documents (Foreclosure Deed, Affidavit of Sale, Military Affidavit, and other required documents);
- Record all documents in the real property records of the appropriate city or town;
- Prepare and submit title packages to HUD/VA in accordance with their guidelines and
- Assist your REO Department with any post-foreclosure title problem.
Palumbo Law in Warwick, Rhode Island is experienced and successful dealing with residential foreclosures. Contact a RI Forclosure lawyer today to receive more information.
Commercial Mortgage Foreclosures
Commercial foreclosures can be quite complex and involve the rights of tenants, assignments of rents, UCC liens on equipment, furniture etc.
Separate UCC sales of collateral pledged to secure the commercial loan or collection of rents directly from tenants is fairly typical. Collection of guaranties and recovery of other forms of collateral are also usually involved.
Frequently, these matters are litigated in state court and/or in bankruptcy proceedings.
Palumbo Law is experienced in the entire mortgage foreclosure process and will proceed aggressively to recover the collateral or obtain payment or restructuring of the loan. Our Rhode Island firm is also experienced with maximizing recovery through various forms of creative settlement.