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Company Loan Type APR Est. Pmt.

Summons

Posted on: 12th Dec, 2006 01:16 pm
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?"
" 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.

"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.

Thanks
Posted on: 12th Dec, 2006 01:30 pm
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!
Posted on: 12th Dec, 2006 01:44 pm
Yes Debbie, it is absolutely essential that you do reply to the summons.

Thanks
Posted on: 12th Dec, 2006 02:10 pm
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.
Posted on: 12th Dec, 2006 07:16 pm
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.

God bless you.

Samantha
Posted on: 12th Dec, 2006 10:33 pm
you can go to uslegalforms.com get foreclosure answer there I think they have a free one.
Posted on: 14th Dec, 2006 08:17 am
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?
Posted on: 01st Feb, 2008 06:44 am
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.
Posted on: 02nd Feb, 2008 01:03 pm
do you have a sample letter to reply to the foreclosure summons.
Posted on: 10th Sep, 2008 09:44 am
Hi edwin,

I think your lender should be able to help you out with this.

Take Care
Posted on: 12th Sep, 2008 06:09 am
why would the lender be of help when they are the ones sending the summons in the first place?
Posted on: 13th Oct, 2008 12:08 pm
Hi edwin carrion!

You can take the help of a legal adviser who may draft you a letter to reply to the foreclosure summons.

Feel free to ask if you have further queries.

Sussane
Posted on: 13th Oct, 2008 10:27 pm
Hi to all
Does any one have a sample letter or a web iste that can help me look one up.

Thanks
Posted on: 12th Nov, 2008 02:19 pm
Hi Alex ospina!

It will be better if you can consult a foreclosure attorney. The attorney will be able to provide you with the letter and also explain what you should include in the letter.

Thanks
Posted on: 13th Nov, 2008 01:55 am
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