South Jordan Utah Foreclosure Lawyer
South Jordan is a city in south central Salt Lake County, Utah, 18 miles (29 km) south of Salt Lake City. Part of the Salt Lake City metropolitan area, the city lies in the Salt Lake Valley along the banks of the Jordan River between the 9,000-foot (2,700 m) Oquirrh Mountains and the 12,000-foot (3,700 m) Wasatch Mountains. The city has 3.5 miles (5.6 km) of the Jordan River Parkway that contains fishing ponds, trails, parks, and natural habitats. The Salt Lake County fair grounds and equestrian park, 67-acre (27 ha) Oquirrh Lake, and 27 parks are located inside the city. as of 2018, there were 74,149 people in South Jordan. Founded in 1859 by Mormon settlers and historically an agrarian town, South Jordan has become a rapidly growing bedroom community of Salt Lake City. Kennecott Land, a land development company, has recently begun construction on the master-planned Daybreak Community for the entire western half of South Jordan, potentially doubling South Jordan’s population. South Jordan is the first city in the world with two temples of The Church of Jesus Christ of Latter-day Saints, Jordan River Utah Temple and Oquirrh Mountain Utah Temple. The city has two TRAX light rail stops, as well as one commuter rail stop on the FrontRunner.
South Jordan is also a growing tech hub with headquarters of companies like IT software company Ivanti. For the year 2010, the city had 27 violent crimes reported to law enforcement, and 1,050 reports of property crimes. The violent crime rate was 48 per 100,000 people compared to a national average of 404 and 213 for Utah. The property crime rate was 1,858 per 100,000 compared to a national rate of 2,942 and 3,180 for the State. The Federal Bureau of Investigation (FBI) defines violent offenses to include forcible rape, robbery, murder, non-negligent manslaughter, and aggravated assault. Property crimes are defined to include arson, motor vehicle theft, larceny, and burglary. Statistics published by the Utah Department of Public Safety’s Bureau of Criminal Identification showed a steady trend in the South Jordan crime rate between 2000 and 2008. The rate for index crimes, a group comprising the combined violent offenses and property crimes stated above was 2,269 per 100,000 in 2000 and 2,277 per 100,000 in 2008. The 2008 rate for index crimes in Salt Lake County was 5,290 per 100,000 and 3,529 per 100,000 for the entire State of Utah. In 2010, South Jordan had a total of 57 total law enforcement employees for a rate of 1.13 employees per 1,000 residents. City police officers made a total of 910 arrests. Total crimes reported were 3,810. Total crimes contain 22 categories that include everything from murder, rape and assault to drug offenses, larceny and prostitution.
South Jordan in the southwest portion of the Salt Lake Valley is one of the region’s fastest-growing areas. No longer rural and remote, South Jordan is home to some of the Salt Lake Valley’s most innovative residential and retail developments, such as Daybreak and The District. South Jordan is home to more than 50,000 residents, with plenty of access to parks, trails and open space.
How Do You Buy Foreclosed Property?
When a person buys a foreclosed property, they are acquiring a property on which the previous owner did not pay the mortgage or property taxes. Buying a foreclosure may be easy or complex, depending on which stage of the foreclosure process the property is in. There may be several legal issues to address, depending on the property, the parties involved, as well as state laws.
Will I Work with the Lender or Property Owner When Buying the Property?
It depends on what stage of the foreclosure process the property is in who is selling the property. If dealing with a creditor or the county, the buyer should not expect to quickly contact them or reach a deal right away. Most of the properties are usually supervised by asset management departments, who can sometimes be difficult to reach. Purchasing property in pre-foreclosure is often easier. The buyer works directly with the property owner in this situation. This also may allow for more direct contact and transacting with the property owner.
Can I Negotiate for the Lender or Property Owner to Make Improvements?
In many cases, the properties are usually sold “as is.” This means the buyer is obtaining the property in condition ranging from good to in need of repairs. Many states have “buyer bewares” laws. These laws generally hold the buyer responsible for taking reasonable steps to determine the condition of the property, including safety or health risks that may be involved. The offer a buyer makes for a foreclosed home should depend on the condition of the property. If the property needs major repair, a buyer may want to adjust their bid to factor in post-purchase expenses. On the other hand, a buyer is not allowed to make any misrepresentations regarding the property during the sales negotiation process. Doing so may result in a contract violation and can lead to legal liability.
What Happens If I Purchased Property with Tenants Living in It?
Prior to 2009, tenants living in a foreclosed property lost their leases. According to the Helping Families Save their Homes Act of 2009, leases continue during and after the foreclosure. For people on a month-to-month tenancy, they will have to leave after receiving a 90-day notice or whatever the applicable state law requires.
What Does Statutory Redemption Mean?
Statutory redemption refers to a property owner’s right, as given to them by a state statute, to regain the property after the property has been foreclosed on. Statutory redemption laws often outline a specific amount of time in which the previous owner can pay the money owed to redeem property. The money owed is the amount the property was sold for at a foreclosure auction. Although the specific time frame varies from state to state, the owner usually has a year to redeem the property.
Do I Need to Talk to a Lawyer about Buying a Foreclosure?
It is very unlikely that you will need help from a lawyer to buy a foreclosed property. Typically, foreclosed properties are sold as/are, which means that the buyer will have little recourse if they discover that the property will need more work than they first imagined. However, if the seller made material misrepresentations, then there is a chance that the buyer will have a chance to recover their losses. However, material misrepresentations are like if the seller didn’t have the right to sell the property and went through serious efforts to hide that from the buyer. If you find yourself in this situation, then it will be in your best interest to contact a real estate lawyer. But keep in mind that a lawyer can only help in these types of situations, and it’s important that you have the documents to prove the circumstances.
What Does A Foreclosure Defense Attorney Do For You?
Foreclosure cases are rarely set in stone. Hiring an experienced foreclosure defense attorney early in the case gives you the best chance of success. The last thing you want to do is battle for your home in court without knowing all your options. Here are a few immensely helpful things a foreclosure attorney can do for you. A foreclosure defense attorney knows the legal landscape better than you. Their experience and judgment will save you time, help you avoid pitfalls, and maximize your chances of saving your home. Depending on your situation, your best course of action may be to avoid foreclosure via loss mitigation, modify your loan, file for Chapter 13 bankruptcy, or have your foreclosure attorney represent you in court outright. An experienced foreclosure attorney in Los Angeles can help you understand the pros and cons of each option.
Represent You At Settlement Conferences
If you live in a state that mandates settlement conferences, your attorney can attend them in your place and negotiate with the bank’s attorney to save your home. The conference is an opportunity for both parties to reach an alternate resolution that doesn’t involve foreclosure. Without an attorney, you’d have to contend with the bank’s attorney on your own time with limited knowledge.
Help You Get A Loan Modification
A loan modification adjusts the terms of your loan such that you can afford the payments. While modifying a loan is free, few homeowners can convince the bank to approve a modified loan without help from an attorney. The bank must review several key pieces of information about your income before making their decision. An experienced attorney can provide and present this information in the best light to help you get approved for a new loan you can afford.
Help You Pursue Loss Mitigation
Certain loans carry loss mitigation options that give you an opportunity to stay current on your payments. Some lenders may withhold this option from you, and without an attorney you would likely have no idea that you could pursue this route. An attorney will not only let you know if loss mitigation is available to you, but also help you choose between the many different ways you can approach this option.
Raise Defenses In Court
If the bank made mistakes in foreclosing your home, an attorney can identify them and fire back. For example, the lender may have breached your loan contract or violated state foreclosure laws, or the foreclosing party may not be the rightful owner of the mortgage debt. You may unknowingly be the victim of unfair lending practices or an unlawful mortgage assignment. There are dozens of strategies and tactics an experienced attorney can use to postpone foreclosure. And if the court accepts your attorney’s argument, you may receive the option of a settlement or even have your lawsuit dismissed entirely.
Help You File For Chapter 13 Bankruptcy
If all else fails, an attorney can help you file for Chapter 13 bankruptcy. If approved, you will have three to five years to get up to date on your payments and will be able to keep your home. Your home is an important not only for its financial value, but for the memories it holds. You don’t have to fight for it alone. The first step is accepting that you need legal help. If you are looking online, you may find an overwhelming number of law firms offering to handle your case. It is important to understand the difference between the various practices, and also why a foreclosure defense attorney is the best choice.
Bankruptcy Attorney- A bankruptcy lawyer is a lawyer whose specialty is in bankruptcy. Their practice is solely focused on bankruptcy, or perhaps almost exclusively dedicated to bankruptcy. While they are experts in helping clients when it comes to bankruptcy, however they aren’t the right choice when it comes to defending a foreclosure suit. Though bankruptcy and foreclosure may overlap, they are two different types of cases. In a bankruptcy case, the individual or entity can’t repay any of the debts owed to creditors, while a foreclosure deals only with the inability to repay a mortgage. If you file for personal bankruptcy under Chapter 7, an automatic stay is placed on all your creditors, including the foreclosing lender. A stay is a ban placed on creditors to stop them from going after you or your assets. However, the stay is only a temporary solution, and it won’t permanently stop a home foreclosure. On the other hand, filing Chapter 13 bankruptcy can usually lower your mortgage payments and help you keep your home. Although filing for Chapter 13 might sound like the perfect solution, you need to be aware that it is very difficult to qualify for a Chapter 13 reorganization plan, and that it is not advisable when a mortgage is your only outstanding debt.
Consumer Protection Attorney- A consumer protection attorney is any lawyer who fights for the rights of consumers. Attorneys dedicated to consumer protection typically handle court cases brought on by a group or “class” of individuals who have suffered the same harm. While foreclosure defense is part of consumer law, it is typically best to hire an attorney that focuses exclusively on foreclosure defense.
Foreclosure Attorney- A foreclosure attorney is a lawyer who primarily handles foreclosure cases. A foreclosure attorney may either represent the bank or the homeowner during the foreclosure process. A foreclosure attorney has extensive knowledge over foreclosure cases and proceedings and is best equipped to help homeowners avoid foreclosure. Foreclosure can be avoided through the use of several tactics including short sales and loan modification. Since a foreclosure attorney focuses primarily on defending homeowners, they are usually the best choice in defending a foreclosure case.
A Real Estate Attorney- A real estate attorney, sometimes referred to as a mortgage attorney, focuses primarily on real estate law. They typically review both documents and real estate transactions, including the purchase, lease, inspection and appraisal of a property. They also help resolve title insurance and environmental issues. In some cases, real estate lawyers will also defend homeowners against foreclosure or help the bank secure a foreclosure against a homeowner. While a real estate attorney deals with matters related to real estate, their primary case load does not revolve around foreclosure. This does not mean that they can’t handle a foreclosure case, however it may not be their area of expertise. When choosing an attorney to defend your foreclosure suit, it is advisable to consult with attorneys from several law firms. Take advantage of free consultations. No matter which type of attorney you ultimately choose to go with, they must be highly experienced in handling foreclosure cases and should be able to prove their track record. Make sure to ask for references, and inquire about what percentage of their cases are foreclosure defense cases. Hiring a foreclosure defense attorney is an important decision, as one of your most valuable assets is at stake.
Foreclosure law provides the means for a mortgage lender to take possession and sell a home when the borrower has defaulted on the loan. The money from the sale is used to pay off the balance of the loan, and the new buyer takes the home free of the mortgage. If the proceeds are not enough to pay off the loan, the borrower may be held personally liable for the difference, in addition to being forced out of the house. From the lender’s perspective, foreclosure is slow and expensive. Thus, the lender will usually be just as motivated as the borrower to see that the loan is paid on time and foreclosure does not become necessary. To understand foreclosure law, it helps to consider the nature of a mortgage. Mortgages are used when potential homebuyers seek to borrow purchase money, or when homeowners with equity in their property want to borrow cash to make home improvements or for other purposes. In either case, a bank lends the money, and requires the borrower to sign a mortgage document giving the bank a security interest in the home. In other words, the home becomes collateral for the loan. If the borrower stops making the loan payments, the bank can take the collateral through the process of foreclosure.
South Jordan Utah Foreclosure Attorneys
When you need legal help with a Foreclosure in South Jordan UT, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506