A home is a huge investment for most people. Sometimes illness, job loss and divorce can cause a homeowner to get behind on payments. Occasionally, some become victims of lender errors or malpractice that threatens ownership of their houses. Foreclosures can occur even when homeowners are current on their payments. If you suspect something like this is happening to you, contacting a foreclosure attorney Houston homeowners recommend is important.
When you send in your payment, you trust that the loan servicer will post it correctly. This doesn't always happen. Clerical errors are possible, especially when account numbers are similar. Some service companies charge outrageous, and often illegal, late fees that can cause homeowners to get even farther behind on their mortgages. Keeping up with your paperwork can make the difference between a successful claim and a failed one.
Lenders must go through a strict set of procedures before and during the process of foreclosing. If they don't follow the legal steps, you may have cause to block the procedure. Not every state has the same laws, so you will probably need a lawyer to sort through the rules and regulations.
Your original lender may sell your loan, in a package with others, at some point. This can get complicated, and previous lenders have begun foreclosure proceedings against homeowners whose loans they no longer hold. If you suspect this is happening to you, you should contact a lawyer to make the previous lender suing you prove ownership of the loan.
Those in the military have special protection against foreclosure actions. If the home loan was taken out before the homeowner went on active duty, the servicer can't begin foreclosing without a court order. Your lawyer can explain how the Servicemembers Civil Relief Act works and how it protects the military and their families.
Dual tracking was a common practice for many years. It occurred when a homeowner applied for a loan modification and, while the lender was in the process of evaluating the application, the loan servicer also continued to process the foreclosure. It is illegal to do this now. Stalling the loan modification application is another technique some lenders use. You will need a lawyer to represent your interests against these practices.
A lot of delinquent homeowners believe once the lender starts foreclosing, they have to leave the property. This is incorrect. Until the foreclosure proceedings are officially completed, the home is still yours. If you want to live there, you can. In some states, the rights of redemption laws make it possible for homeowners to live in foreclosed homes for years. You probably don't need a lawyer in this instance unless the lender attempts to remove you or changes the locks.
You do have rights and recourse if you are the victim of a lender's errors or illegal practices. In order to keep your home, you may have to retain the services of a good lawyer familiar with foreclosures. It will be worth the money though, if you end up keeping your home and family together.
When you send in your payment, you trust that the loan servicer will post it correctly. This doesn't always happen. Clerical errors are possible, especially when account numbers are similar. Some service companies charge outrageous, and often illegal, late fees that can cause homeowners to get even farther behind on their mortgages. Keeping up with your paperwork can make the difference between a successful claim and a failed one.
Lenders must go through a strict set of procedures before and during the process of foreclosing. If they don't follow the legal steps, you may have cause to block the procedure. Not every state has the same laws, so you will probably need a lawyer to sort through the rules and regulations.
Your original lender may sell your loan, in a package with others, at some point. This can get complicated, and previous lenders have begun foreclosure proceedings against homeowners whose loans they no longer hold. If you suspect this is happening to you, you should contact a lawyer to make the previous lender suing you prove ownership of the loan.
Those in the military have special protection against foreclosure actions. If the home loan was taken out before the homeowner went on active duty, the servicer can't begin foreclosing without a court order. Your lawyer can explain how the Servicemembers Civil Relief Act works and how it protects the military and their families.
Dual tracking was a common practice for many years. It occurred when a homeowner applied for a loan modification and, while the lender was in the process of evaluating the application, the loan servicer also continued to process the foreclosure. It is illegal to do this now. Stalling the loan modification application is another technique some lenders use. You will need a lawyer to represent your interests against these practices.
A lot of delinquent homeowners believe once the lender starts foreclosing, they have to leave the property. This is incorrect. Until the foreclosure proceedings are officially completed, the home is still yours. If you want to live there, you can. In some states, the rights of redemption laws make it possible for homeowners to live in foreclosed homes for years. You probably don't need a lawyer in this instance unless the lender attempts to remove you or changes the locks.
You do have rights and recourse if you are the victim of a lender's errors or illegal practices. In order to keep your home, you may have to retain the services of a good lawyer familiar with foreclosures. It will be worth the money though, if you end up keeping your home and family together.
About the Author:
Get a summary of the things to consider before choosing a foreclosure attorney Houston area and more information about an experienced lawyer at http://www.saveyourprop.com now.
No comments:
Post a Comment