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2500 S. Broadway Ste 128
Edmond, Oklahoma 73013

    About us

    WE PROVIDE THE HIGHEST LEVEL OF LEGAL SUPPORT WITH STRATEGIES THAT FOCUS ON YOUR SUCCESS

    Robert C. Newark, III is the owner/attorney for A Newark Firm. Rob received his Bachelor of Arts degree in Political Science from the University of North Texas and received his Juris Doctor degree from Oklahoma City University. He has represented both debtors and creditors in both State and Federal Court. Rob has also successfully defended individuals from losing their home. He has represented individuals in adoption matters. Finally, Rob has successfully represented individuals in bankruptcy court in order to discharge debts and save items like homes that they are at risk of losing.

    Rob has been a speaker for the topics of collections, administrative practices, and bankruptcy. He has also published an article regarding aircraft title lien disputes. Rob is a member of the Oklahoma Bar, Texas Bar and the United States District Courts for the Northern and Southern Districts of Texas, the Northern, Eastern and Western Districts of Oklahoma, and the federal district court in New Mexico.

    The Importance of Avoiding Default Judgment

    While a deed in lieu of foreclosure can be an efficient way for a homeowner to leave a troubled home loan behind and start over, it presents the possibility of a deficiency judgment. This can be a dangerous trap for borrowers who are not familiar with foreclosure law or do not have an attorney to represent them. A deficiency judgment refers to the personal liability of a borrower for the unpaid balance of a home loan, even after the home has been foreclosed and sold.

    Besides taking a security interest in the home, mortgage lenders require borrowers to sign a personal guarantee. This way, if the foreclosure sale does not bring in enough to satisfy the loan, the rest can still be collected from the borrower personally. For borrowers, this represents a worst case scenario, as they will continue to owe money even after the home has been lost. Fortunately, borrowers who hire an attorney to negotiate a deed in lieu of foreclosure will almost always succeed in getting the bank to waive its right to a deficiency judgment as part of the deal.

    Resolving Legal Concerns with a Common Sense Approach. My firm handles adoptions, bankruptcy, and foreclosure defense work. Offices in TX and OK.

    Call to ask any question 866-230-7236
    Layer

    Foreclosure Law?

    Foreclosure law provides the means for a mortgage lender to take possession and sell a home when the borrower has defaulted on the loan. The money from the sale is used to pay off the balance of the loan, and the new buyer takes the home free of the mortgage. If the proceeds are not enough to pay off the loan, the borrower may be held personally liable for the difference, in addition to being forced out of the house. From the lender’s perspective, foreclosure is slow and expensive. Thus, the lender will usually be just as motivated as the borrower to see that the loan is paid on time and foreclosure does not become necessary.

    To understand foreclosure law, it helps to consider the nature of a mortgage. Mortgages are used when potential home buyers seek to borrow purchase money, or when homeowners with equity in their property want to borrow cash to make home improvements or for other purposes. In either case, a bank lends the money, and requires the borrower to sign a mortgage document giving the bank a security interest in the home. In other words, the home becomes collateral for the loan. If the borrower stops making the loan payments, the bank can take the collateral through the process of foreclosure.

    EASY TO TALK TO, EASY TO REACH

    The number one complaint about attorneys is that they aren’t personable. They’re hard to get in touch with and when you finally manage to talk to them, they seem busy and rushed. But not us. You are the reason that we’re in business, so if you need us, then we are always readily available to you.

    OUR CLIENTS ARE NOT A NUMBER

    We won’t ever drag out a case just to bill you more because you’re not just a cash cow. You’re a person with a serious problem and deserve to be treated as such.

    CLEAR EXPLANATIONS AND EASY TO UNDERSTAND

    The law is complicated and that’s no secret. When you come to us for help, you don’t get your explanations in legal talk; you get them in perfectly clear English.
    Services

    OKLAHOMA CITY FORECLOSURE LAW ATTORNEYS
    ASSET RECOVERY/ COMMERCIAL AND PERSONAL DEBT COLLECTION

    RELATIONSHIPS BUILT ON TRUST

    ATTORNEY REFERRALS AND CO-COUNSEL

    The world has plenty of lawyers but not enough trustworthy ones. We pride ourselves on our ethics.

    Foreclosure Defense

    A foreclosure defense attorney can respond on your behalf to the foreclosure lawsuit to ensure your rights are protected.

    There are many alternatives to foreclosure. It’s important to discuss your individual situation with an attorney to explore these options and decide which one will work best for you.

    These alternatives include but are not limited to a possible Short Sale, Deed in Lieu, Bankruptcy, Loan modification and in certain cases fighting against predatory lending and “truth in lending” violations, etc.

    CONTACT US NOW

    Newark Law Firm.

    MEET YOUR LEGAL TEAM

    Robert Newark

    Attorney

    Robert C. Newark, III is the owner/attorney for A Newark Firm. Rob received his Bachelor of Arts degree in Political Science from the University of North Texas and received his Juris Doctor degree from Oklahoma City University. He has represented both debtors and creditors in both State and Federal Court. Rob has also successfully defended individuals from losing their home.

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