Foreclosures

At Ward and Smith, we know foreclosure is often a lender’s last resort.

Our team of creditors’ rights and bankruptcy attorneys offers hands-on representation to banks, credit unions, commercial lenders, and private lenders—helping you protect your interests at every stage.

Full-Service Representation from Default to Resolution

We manage the entire foreclosure process, from the first missed payment to selling the property. Our services cover:

  • Commercial foreclosures
  • Agricultural foreclosures
  • Judicial and non-judicial (power of sale) proceedings
  • Title review and defect resolution
  • Drafting and delivery of default notices and demand letters
  • Scheduling and conducting foreclosure sales

Our attorneys work closely with your internal teams to ensure your rights are protected every step of the way, while avoiding unnecessary delays or procedural missteps.

Regulatory Compliance

We make sure your foreclosure proceedings meet all legal requirements, including compliance with the Truth in Lending Act (TILA), Real Estate Settlement Procedures Act (RESPA), and Fair Debt Collection Practices Act (FDCPA). We also stay up-to-date with state-specific foreclosure laws and Consumer Financial Protection Bureau (CFPB) regulations, so your process stays on solid legal ground from start to finish.

Navigating Bankruptcy and Foreclosure Conflicts

When a borrower files for bankruptcy, quick and careful action is key. We help creditors protect their interests by seeking relief from the automatic stay, representing them in Chapter 7, 11, 12, and 13 cases, enforcing reaffirmation agreements and secured claims, and working closely with trustees and the borrower’s attorneys to navigate the process smoothly.

The Foreclosure Process for Lenders

Our attorneys support lenders from the earliest signs of trouble through the final steps of foreclosure. We start by carefully reviewing the loan documents and the collateral involved. This includes preparing and sending demand letters, deciding when and how to accelerate the loan, and mapping out a strategy for moving forward with foreclosure.

Once it’s time to file, we handle every legal detail. That means drafting all necessary documents, examining the property’s title and any liens, notifying everyone with an interest in the property, and making sure all publication requirements are met.

When the property goes up for sale, we represent you at foreclosure hearings and help you develop a sound bidding strategy. We oversee the sale itself and manage any post-sale confirmation proceedings to make sure everything is handled properly.

After the sale, our team coordinates the transition of the property and helps secure possession. If it makes sense, we pursue deficiency judgments to recover any remaining debt. We also assist with managing REO (real estate owned) properties and address any title insurance or marketability concerns that come up.

Receivership Services

When foreclosure isn’t the best path, we provide commercial receivership services as an alternative. Our team can petition for the appointment of a receiver and work closely with qualified professionals to oversee the property. Throughout the process, we focus on preserving the property’s value, ensuring thorough financial oversight and reporting, and planning for a smooth transition when it’s time to dispose of the asset.

Why Choose Ward and Smith?

Whether you're dealing with a complex commercial assets and disputes, Ward and Smith delivers practical solutions backed by legal excellence.

If you're a lender, servicer, or creditor facing default and recovery issues, our experienced attorneys are here to help. Contact us today to discuss your foreclosure needs and learn how we can support your recovery strategy.

We are your established legal network with offices in Asheville, Greenville, New Bern, Raleigh, and Wilmington, NC.

Foreclosures Team

Joanne L. Ayscue

Jameson A.E. Doub

Paul A. Fanning

Lilian L. Faulconer

J. Michael Fields

Norman J. Leonard

Lance P. Martin

Joseph D. Nichols

Tyler J. Russell

Thomas C. Wolff

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