Foreclosure & Bankruptcy Law
The Parker, Simon & Kokolis, LLC represents mortgage lenders, banks, servicing companies and private investors enforcing their rights to foreclose on real property when the property owner defaults on mortgage payments.
We represent clients across the full range of real estate foreclosure matters including, but not limited to:
- Deed of Trust/Mortgage Foreclosures
- Eviction following Foreclosure
- Deficiency Collections
- Creditor Representation in Bankruptcy Actions
All three of our practice jurisdictions have made or contemplated substantial changes to the foreclosure laws in recent years. Our attorneys have remained informed and kept up-to-date with these changing regulations. The legislature in Maryland has added more rigor to the process, increasing the number and types of notice a foreclosing lender must provide to a borrower, adding a mediation option, and essentially extending the amount of time it takes to complete a foreclosure. Additionally, Maryland Courts are reviewing documents with greater scrutiny to ensure the accuracy of all affidavits and filings within the foreclosure action. In the District of Columbia, a comprehensive overhaul of the foreclosure process went into effect at the end of May 2011, the centerpiece of which is a mandatory mediation process for all owner occupied residential property. While Virginia has yet to enact any sweeping changes, proposals have been introduced in the Virginia legislature, which our attorneys continue to monitor. Parker, Simon & Kokolis, LLC will work diligently to ensure that the foreclosure filing is completed in accordance with the laws of Maryland, the District of Columbia, or Virginia. Additionally, Parker, Simon & Kokolis, LLC will continue to work with our creditor clients and the appropriate authorities after the completion of the real estate foreclosure process to obtain possession of the property, if necessary, through eviction proceedings.
Subsequent to the foreclosure, the firm works with the lender to collect on the deficiency – the difference between what was owed on the mortgage and what the bank was able to recover from the foreclosure sale. Deficiency judgments are permitted in all three of our jurisdictions.
Parker, Simon & Kokolis, LLC also provides creditor representation in bankruptcy cases. We ensure that our clients’ interests are protected throughout the bankruptcy proceeding. Our firm will monitor the case and aggressively protect your interest.
Whether you are a private investor or a regional lender, our attorneys can complete your foreclosure effectively and efficiently. Contact Parker, Simon & Kokolis, LLC to consult with us about foreclosure and bankruptcy representation.