If you have received a foreclosure notice, you are probably experiencing dread, fear, and panic. There are so many things that must be going through your mind such as what will happen to your home, where you can move until you find a new place, and how all these things will affect your life overall.
But before you go on figuring out how you will manage all these things, have you considered the fact that you can fight foreclosure and avoid giving up your home? If you didn’t know until now, you have rights too, which you can assert in the court with the help of a reliable and experienced foreclosure defense attorney. They will study your case and perform investigations to determine possible foreclosure defense options.
The following are some common and effective foreclosure defenses that can help you retain your home.
Improper Execution of Pre-Foreclosure Notice
The bank or any other foreclosing party is required by the law to send a 90-day pre-foreclosure notice. Before this duration is up, the plaintiff cannot file a case against you. The standard procedure requires the foreclosing party to send two copies of this notice. Moreover, it should list at least five housing counselor agencies that are located in or near your area. If the lender didn’t fulfill these requirements, or you didn’t receive the pre-foreclosure notice at all, you can use this as a defense to avoid foreclosure.
Illegal Lending Practices
If the lender didn’t provide you with essential information pertaining to the mortgage, acted unfairly, or deceived you in any way, you have the right to challenge the foreclosure. According to the Truth In Lending Act (TILA), the lender must provide information regarding APR, payment schedule, the duration of the mortgage, and other important information. If your lender didn’t provide you with this information correctly, you can use this as a defense against foreclosure in the court.
Mistakes in Mortgage Payment Accounting
Most of the time, the lender hires a mortgage servicer to implement mortgage terms and manage payments. These mortgage servicers apply charges based on the guidelines of the federal law 12 U.S.C. ยง2605. If your mortgage servicer made blunders in handling the accounting of your mortgage payments, you can use their mistake as a reason to stop foreclosure.
Proving Mortgage Ownership
There is a good chance that your mortgage has been bought or sold several times by different lenders over time. In such a case, the lender may not be able to prove that it owns the mortgage. Courts require the foreclosing party to produce original documentation to establish that they have the mortgage ownership, which often times is difficult for them.
A home is a safe haven and no one would want to give it up without a fight. That is why you should seek legal assistance of a reliable foreclosing defense attorney to evaluate your case and provide aggressive representation in the court. Contact the Fitzgerald Law Firm, P.C. to schedule a free consultation today.