Posted: Tue Dec 12, 2006 2:16 pm Post subject: Summons
Hello all, thanks for the reply's to my foreclosure/summons questions. Should I reply to the summons in 20 days to avoid the default judgment? We will either do the refinance or the loan modification with our lender. We wanted to have a least a couple options available to decide which would be best.Sara, the summons is for our 1st mortgage. As long as the appraisal comes back high enough,which I am 95% sure it will, the refi would be a good option. Fixed rate, no pre-pay and not a ballon. So is it still wise to reply to the summons and what is the proper procedure for that? What exactly will this accomplish in addition to avoiding the default judgment? Thanks for all the wonderful info!!!
Should I reply to the summons in 20 days to avoid the default judgment?
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So is it still wise to reply to the summons and what is the proper procedure for that?
You should certainly appear before the court on the date mentioned in the summons.
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What exactly will this accomplish in addition to avoiding the default judgment?
Before the court you will be able to put forward your cause for the default and that you have asked the lender for a loan modification or a refinance of the mortgage.
In case the appraisal does not come out good then the lender might not refinance and continue with the foreclosure, at that time you will have the court with you and will be able to show that you have tried to make out a plan to avoid foreclosure and get regular with your payments.
Posted: Tue Dec 12, 2006 2:44 pm Post subject: Summons
Thanks for the quick reply..fyi, there is not an actual court date for us to appear. The summons just states we need to respond in writing within 20 days or a judgemnt by default may be rendered against us for the relief demanded by the plaintiff. So we should definately respond in writing? Thanks for the detailed answers!
I don't know much about this, but I think it is better to reply to the summons within the 20 day period. I think for the procedure, you will need the help of an attorney. _________________ Procrastination is the enemy of your financial sucess
Posted: Tue Dec 12, 2006 11:33 pm Post subject: RE: replying to a court summon for home loan
Hi Debbie,
I think it's a good decision to refinance or seek a loan modification. But don't you think that refinance would be costly, as you will be paying for the loan fees once again.
Though you will be getting a fixed rate with no balloon payment, yet, I feel you can give it a thought once again. This is because if you go for loan modification, you can at least avoid the refinance costs.
I am not sure whether you can apply for loan modification now but then if you refinance, get an estimate of the closing costs and legal fees, if any. This will help you to get prepared right from the very beginning.
However, the first thing you should do is to reply to the summons in writing; otherwise, you may have to pay a fine set by the judge. Moreover, the judge can give a default judgment in favor of the person filing the petition against you.
Frankly speaking, I don't have much knowledge abut the entire process of replying a summon. I guess an attorney will be the right person to help you in this regard. Still, I shall try to find out and if I get some more information, I shall let you know.
Posted: Fri Feb 01, 2008 7:44 am Post subject: Reply to a Summons served
I was served with a debt Summons and need help to be sure I reply correctly and format correctly. Do I notarize the form at the Court when delivered or before?
I think that replying to the summons will help delay the process. Also, just in case of that 5% chance that the refinance does not go through, you won't regret it. _________________ Lisa Scherzer
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