Creditors’ Rights – Default Servicing

When a homeowner or real property owner becomes delinquent or when default appears imminent, creditors have the ultimate goal of minimizing the losses of both the investor and the property owner. Lenders, private equity firms, credit managers, and other secured creditors have interests in mortgaged properties – both residential and commercial – but this doesn’t always mean foreclosure is certain.

At Ligris, our creditors’ rights and default servicing legal team is committed to providing foreclosure and title expertise while working closely with our clients to get to a resolution in the most effective and efficient manner possible. With a focus on transparent communication, we seek agreement by knowing the law and engaging with all parties. Our attorneys and staff specialize in providing comprehensive, thoughtful, and outside-the-box strategies and default-related legal services in Massachusetts, Rhode Island, New Hampshire and Connecticut.

We anticipate complications and prepare for challenges, rather than reacting to them, and we recognize the importance of being responsive. Debtor-creditor matters often require corporate, banking, tax and real estate expertise. In our creditors’ rights group, you get a team approach as we work with our colleagues in real estate, business law, evictions and title curative and resolution as needed to provide our clients with the services necessary to protect their interests.

As part of our services, our team will:

  • Advise on loan modifications, debt restructurings, and asset disposition strategies
  • Represent creditors in the foreclosing of commercial and residential mortgages, non-judicially and judicially
  • Enforce secured and unsecured claims in the US Bankruptcy courts including, but not limited to filing proofs of claim, notices of payment change, reviewing and objecting to bankruptcy plans, and drafting and filing motions for relief from stay.
  • File eviction actions to obtain possession of foreclosed properties, serve requisite notices to quit, and negotiate cash-for-keys agreements
  • Represent creditors in the sale of REO properties from contract to closing
  • Defend against borrowers’ claims including debt disputes, requests for injunctive relief, prosecute post-foreclosure collection actions, prosecute and defend title actions, prosecute interpleader actions
  • Defend against HOA lien actions in order to protect clients’ lien positions, and negotiate agreements
  • Defend against municipal and state code enforcement actions and negotiate agreements with municipal and state agencies
  • Use diligent efforts to protect clients’ interest in any real estate, including but not limited to priority disputes, title issues and other such matters involving real estate secured by mortgages or deeds of trust.