Default litigation in Massachusetts and throughout New England is a hotbed of new terms, novel claims, and intense judicial scrutiny of lending and foreclosure practices. Homeowners facing foreclosure are aggressively pursuing lawsuits in an effort to save their homes from auction, or to compel loan workouts with their mortgage company.
Words and phrases such as "Ibanez," "the Fremont injunction standard," "MERS standing to foreclose," and "HAMP and TARP" are now commonplace in pleadings and court decisions. A typical case can contain loan origination, TILA and RESPA issues, payment disputes, servicing claims, standing challenges, building code violations, consumer protection claims, allege breaches of contract or breaches of good faith and fair dealing in loan workouts, and assert technical violations of numerous other laws.
State and federal trial courts, appellate courts, housing courts, bankruptcy courts and the Land Court are all trying to make sense out of both the mortgage foreclosure crisis and the government's response, and they are rendering decisions with huge implications for lenders, mortgagees, and mortgage servicing companies.
Now, more than ever, clients involved in default litigation need to work closely with a highly skilled attorney who can navigate this shifting legal landscape, provide precise legal analysis, and create a highly coordinated, well-designed case plan.
A meaningful plan should include litigation strategy and resolution alternatives, a clear understanding of the facts and all applicable laws, and a careful assessment of the goals and risks involved, including reputational risk. Counsel must have the technical expertise to implement and accomplish the case plan. A successful attorney will then create clear written materials, and present a persuasive oral argument in any forum.
Prince Lobel has formed a team of experienced attorneys who specialize in representing financial services clients faced with mortgage default related litigation. Our team understands the needs of its clients and works diligently in response to those needs, in order to achieve successful, cost-effective results.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
