When a property or business owner fails to maintain his or her financial obligations, the banks that hold his or her loans have the option to foreclose and assume ownership of the property. Not all banks, however, are interested in assuming ownership of properties that fall into default.

When these situations come about, the banks may be interested in selling those loans rather than foreclosing and taking over ownership of the property. This can be a very economically sound means of securing ownership of a property. Loans on distressed property can often be purchased at steep discounts compared to the actual value of the property, asset or business. Becoming the holder of that loan grants the power to foreclose or assume ownership of the property via deed in lieu and a release from debt.

If your goal is to create profit through the acquisition and sale of a distressed property, we can help you effect that goal by placing that loan for sale rather than assuming ownership of the property yourself. Located in Wilkes-Barre, Pennsylvania, our attorneys assist clients throughout the state with selling distressed and defaulted loans.

At Hoegen & Associates, P.C., our attorneys are committed to helping investors, businesses and individuals achieve their goals regarding the purchase and sale of distressed and defaulted properties. We understand the real and significant possibility that exists to create profitable transactions that are built on these types of properties. Let us use our decades of experience to help you maximize the profit potential of any distressed loan sales.

Contact the Sale of Defaulted Mortgages and Business Loans Lawyers of Hoegen & Associates, P.C.

When attempting to sell defaulted loans, it is important that you have experienced guidance that understands what your goals are and that has the capacity to help you achieve those goals. Turn to the skilled and experienced attorneys of Hoegen & Associates, P.C. To schedule a free initial consultation, call 570-704-5754, toll free at 888-352-4229 or simply contact us online.