Distressed Real Estate Transactions and Foreclosure Assistance

Scottsdale & Phoenix, Arizona: Distressed Real Estate Transactions & Foreclosure Assistance Attorneys

Are you a home owner or commercial property owner who is delinquent on your mortgage payment or having difficulty meeting your loan payments? If you are facing possible foreclosure or are in a distressed property, you may feel as though you have limited options. At McCain & Bursh Attorneys at Law, P.C., we can identify your options and help you develop a strategy for attempting to resolve your troubled loan.

Marc McCain has been a leading voice in Arizona regarding residential and commercial loan workouts. He has assisted over 1,000 clients who have faced foreclosure or an underwater property. Mr. McCain has extensive knowledge of Arizona foreclosure law and the options available to borrowers faced with bad loans. As part of the Firm’s foreclosure assistance and counseling, Mr. McCain will review your loan documents and meet with you to thoroughly analyze your specific situation and goals, assess your liabilities under your loan, and present you with your options, including:

Whether you own a residential or commercial property facing foreclosure, McCain & Bursh can help you evaluate your options and provide you with foreclosure assistance and workout strategies. Call our Firm today at 602-604-2138 or contact us online to discuss your options. – Consultation Disclaimer*

Deed in Lieu of Foreclosure

If other options have been unsuccessful or if you are an owner that desires to avoid the stigma of an involuntary foreclosure, a Deed in Lieu of Foreclosure may be the option for you. A Deed in Lieu of Foreclosure is a voluntary conveyance of a borrower's property to its lender. A Deed in lieu of Foreclosure is typically given as full satisfaction of all debt owed to the lender, but not necessarily.

Foreclosure Assistance

Are you a home owner or commercial property owner who is delinquent on your mortgage payment or having difficulty meeting your loan payments? If you are facing possible foreclosure or are in a distressed property, you may feel as though you have limited options. At McCain & Bursh, we can identify your options and help you develop a strategy for resolving your troubled loan.

Home Retention and Loan Modifications

If you are one of the many Phoenix property owners facing foreclosure, you may feel there is no hope for keeping your home. Do not give in to this hopelessness, as there may be help available to you. At McCain & Bursh, PLC, we have extensive experience representing borrowers in loan modification negotiations including:Property Modifications, GSE HAMP and Non-GSE HAMP.

Short Sales

If you own a home or property that is worth less than the outstanding loans and want to, or need to the property, a short sale may be the best option. However, before deciding to move forward with a short sale, an owner has to understand Arizona's anti-deficiency laws and the nature of a short sale, including all of the important legal and tax implications that arise from a short sale.

Strategic Default & Foreclosure Assistance

When other options have failed or are not attractive to a borrower, a strategic default may be a viable option in an otherwise difficult situation. Some buyer's simply cannot afford to pay their mortgage as a result of a job loss, health issue, or other economic hardship. Other borrowers are faced with a job relocation or need to sell their property, but because it is underwater, can't do so without their lender's assistance. Other borrowers simply recognize that the value of their home compared to the debt owed to their lender is so low that continuing to pay their mortgage no longer makes financial sense.

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