08 Jan Litigation: Fight Back Against Your Foreclosure
Foreclosure defense is a complex and complicated area of the law. Depending on the homeowner’s situation and wishes, there are also many possible solutions that an attorney can achieve. These solutions include defending you and your rights from predatory lenders and servicers, helping you obtain a loan modification, getting you more time in the home, or even helping you obtain monetary compensation.
In some cases, a homeowner’s only option is to sue their lender in order to defend their rights and save their home. Additionally, litigation forces mortgage institutions to follow state and federal mortgage laws and holds them accountable for when they haven’t followed the regulations as they are required to.
The list below represents just a few of the most common reasons for litigation in foreclosure defense cases:
Lack of Standing
In many states, loan servicers must be named on the mortgage in order to proceed with foreclosure proceedings. In order to prove that they have a legitimate interest in the property, and the ability to initiate foreclosure proceedings, a servicer must show that they were named on the mortgage between borrower and lender. If they cannot prove their interest in the property, then they have a lack of standing and the case is typically dismissed.
Lack of standing is amongst the most effective defenses against foreclosure.
Failure to Provide Notice
Lenders are required to follow strict regulations when providing notices. Legally, everyone with an interest in a loan (i.e. lenders, servicers, and property owners) must receive two copies of these notices. If notices have not been provided correctly, there may be a violation.
If your lender improperly applies your payments towards interest instead of principal, they may be in violation of your loan.
Possession of the Note
Often the most well known defense, possession of the note requires endorsements to be reflected on the original loan. If your mortgage has been sold to another party, the original note must specify the new payee. If these conditions are not met, it may be possible to overturn your foreclosure.
Every foreclosure defense situation requires a unique strategy dependent on your individual situation. The violations above represent just a few of the most common causes of litigation in these types of cases. However, an experienced attorney is a necessity when fighting for your home and it’s important that they have experience in real estate and foreclosure defense cases.
If you believe your lender or loan servicer has committed any of these violations, our attorneys can help. With over 10 years of experience, RA & Associates has the the knowledge and expertise needed to fight lenders and save your property.
For more information, or to schedule a free consultation, please complete the form on the right or contact our office at (888) 417-1080.
RA & Associates, APC
1 (888) 417-1080
505 N. Brand Blvd.
Glendale, CA 91203