PROTECTION FROM A FORECLOSURE DEFENSE ATTORNEY
When a mortgage lender is offering you a loan, they may impose unfair loan terms. These unscrupulous actions may include giving you high fee's or interest rate, taking equity, or putting you in a lower credit rate loan. Fortunately, the government has set up anti-predatory lender laws, largely due to the efforts of the U.S. Department of Housing and Urban Development (HUD). If you have been a victim of predatory lending, then contact our attorneys with expertise. You shouldn't have to lose your home because a mortgage lender deceived you! Let a expert foreclosure prevention attorney guide you today. Call us at 1-424-256-9055.
ABUSIVE LENDING PRACTICES
Think that your lender acted unfairly? The following lending practices have been labeled "predatory".
Charging more interest or fees to a borrowing after putting them in a lower credit bracket than they deserve
Failing to inform the borrower of the loan's terms and conditions
Asking disproportionately high fees or interest rate
Charging insurance that will pay of the loan if the borrower dies, called single-premium credit insurance
Refinancing a home with little financial benefit to the borrower and with a benefit to the lender
Concealing fees or interest by packing them or using balloon payments
HOW TO AVOID PREDATORY LENDING
If you are thinking of buying or refinancing your home, you are facing an important and complex decision. While many mortgage lenders are helpful, some will treat you unfairly so that they make profit. Before you make the decision, you should also make sure to research the prices of other home in your area, as well as other mortgage lenders. If the price seems too high or too low, then you may want to do further investigation the reason. A licensed home inspector can be helpful with this type of examination.
HOW TO PREVENT FORECLOSURE
What is the Foreclosure Process?
Assistance From Our Foreclosure Defense Lawyers
If you are beginning to gall behind on your mortgage payments, then your properly may be seized and sold by the lender. This process is called foreclosure. The lender usually allows three to six months of missed payments before the foreclosure process takes into effect.
If they have not yet initiated the process, then our experienced Foreclosure Defense Lawyers may be able to defend you. Some of the effective strategies to prevent foreclosure is as follows:
Loan Modification. Loan modification allows home owners to change the term of their loan by cutting interest rates, reducing the loan's balance, or extending the loan terms.
In many cases, a skilled foreclosure lawyer can work with the bank or other mortgage lender to negotiate a modification of the loan terms. The goal of a loan modification is to reduce the amount of the monthly mortgage payments to a level that the borrower can afford. This may be done by cutting the interest rate, by extending the loan terms or even by reducing the outstanding balance of the loan.
Deed in Lieu. This gives home owners the option of handing over the deed of their house in exchange for debt forgiveness.
For many people who are anxious to avoid foreclosure yet prefer to let go of the home and make a fresh start elsewhere, the best solution is known as deed in lieu of foreclosure. In deed in lieu, you surrender the deed to the bank in exchange for being forgiven the remaining loan balance. A deed in lieu is only possible with the consent of the lender.
Bankruptcy. The process of bankruptcy may enable you to discharge other debts which would free up assets to pay for the mortgage.
If you are determined to keep your home but cannot afford a monthly payment while also trying to pay off other debts, declaring under Chapter 7 or Chapter 13 may be the answer for you. Bankruptcy will not get rid of mortgage debt but it will free up your income by wiping out most or all of your other debts. Further, the automatic stay issued at the beginning of the process will prohibit the lender from moving forward with foreclosure.
Once you decide to sign the loan, do not falsify your information, no matter what the lender tells you! Make sure that the whole document is filled in and there are no blanks on the application. You should also consult with a real estate attorney. Our experienced attorneys can review your loan and contract to ensure that everything is correct and in your best interest.
Find out if you have been a victim by speaking to our experienced attorneys now! Once reached the attorney they can fully elaborate and review your case to protect your right so you can sustain your home.
(Also See Bankruptcy Lawyers)
Short Sale. In the event that you, like so many other people, owe more on your mortgage that the property is worth on the real estate market, you may be ready to sell the home and move on with your life. It might be possible for you to do so by negotiating with the bank for approval of a short sale, in which you sell the property for the highest price. This will fetch without being held liable to pay the deficiency on the loan balance.
Speaking to an experience foreclosure prevention attorney so they can determine which method works best in your situation.
WHAT TO DO IF FORECLOSURE HAS ALREADY STARTED
Once a lender order a Notice of Default at the Country Records Office, the foreclosure process has begun. The NOD informs the borrowers that they are not facing foreclosure. If the loan is not paid back within three months, then the lender may issue a Notice of Sale. After 20 days, the property may be sold at foreclosure sale. Usually, the property will be auctioned to the highest bidder for cash only. During the duration of process, you should make sure that you have a foreclosure defense lawyer assist you in foreclosure litigation so that you can have the best chance of keeping your home.
NEED AN ATTORNEY FOR FORECLOSURE CASE?
When your looking for legal help, our experienced foreclosure prevention lawyers can review your case and give you a loan audit. This will help you find out if you have been a victim of unfair or deceptive lending practices. If the lender made an error or is in violation of the law, then our attorneys may be able to file a counterclaim against the lender. Successful litigation may allow you to recover your losses and help you get back on your feet.
PROVIDING THROUGH FORECLOSURE DEFENSE
No matter what stage of foreclosure process you are currently in, the faster you contact a foreclosure prevention attorney the better your outcome. Waiting too long will make the case more complex. Our foreclosure prevention attorneys have the wealth of knowledge to put to work on your behalf. Call for a FREE CONSULTATION to evaluate to see your options at 1-424-256-9055.
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