A homeowner received a Lis Pendens from a bank he didn't remember signing papers with.  All of his mortgage statements came from another bank so he had questions.
  • Is this foreclosure filing an error? 
  • Have my payments been applied properly?
  • Do I need an attorney?
  • Should I try a short sale?
We hear stories about how to stall a foreclosure.  There are law firms out there specializing in this niche of real estate law.  Sometimes it works, but most times the foreclosure clock keeps ticking.  So unless you are in a financial position to consider a loan modification, it might be best to clear up the confusion and make a plan, not wait for the fog to clear and then be surprised.
First: Start with your home loan records and make sure that you might not have overlooked an assignment of mortgage you signed at closing.
Second: Call the mortgage company or title company you dealt with for your house buy or sale. Be persistent to get accurate answers.
Third: Call the attorney that filed the Lis Pendens for the mortgage holder.  Contact information is included at the bottom of the cover letter that came with the court papers served to you.  They can usually provide a paper trail. 
So, you don't need an attorney until you have done a bit of homework.  They will probably ask you for this information anyway so you might as well do what you can at the onset.
If you decide to do a short sale contact a real estate agent that has done successful short sales and can give you some resources for information. You or your agent can visit www.MyRealEstateAgentsAdvantage.com to get information about how to determine if your situation is a good candidate for a short sale.
SP