What constitutes malpractice in a foreclosure representation?

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Question:

What constitutes malpractice in a foreclosure representation?

Answer:

You hire real estate professionals to help you handle the foreclosure process.  You do so because they have the knowledge, the skill, and the experience to make sure that you get the best deal that you can and so that you understand what is going on each step of the way.  This is what they are supposed to do.

What if they do not do what they are supposed to do?  What if your real estate professional does not act in your best interest?  This is malpractice.

In foreclosure representation malpractice takes on a few forms.  One common form is that your real estate professional will insist that you agree to close on a sale and they will do this at the time that they list the property.  This is not always in your best interest.
One of the big goals of foreclosure representation is to get a deficiency waiver.  When a property is sold for less than you owe then there is a deficiency.  The lender hasn't made all their money back.  If you get a deficiency waiver then you can sell the home and not have to pay back the deficiency that exists.  Clearly, this is a deal anyone in foreclosure would want.

Some real estate professionals neglect to fight to get this deal for their clients and proceed to close sales anyway.  This leaves their clients to pay whatever the deficiency might be and they might not even see it coming.  A deficiency waiver may not always be possible but it is the goal.  Without it you could be left with hundreds of thousands of dollars of bills to pay.

If you think you have been the victim of malpractice in foreclosure representation then get a lawyer.  Real estate professionals should always act in your best interest and when they do not they should be held accountable.  Tell yourself that there's nothing wrong with my lawyer suing the law firm I used in foreclosure if they didn't handle the situation as they should have.

This site does not provide legal advice and users of this site should not interpret any of the information presented here as legal advice. The information provided merely conveys general information related to commonly asked legal questions. We are not a law firm and the employees responding to questions are not acting as your legal attorney. You should ultimately consult with a Lawyer for your case.

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