Every Month, 250,000 Americans are losing their homes to foreclosure. If you’re one of those facing foreclosure, it is time to think about the foreclosure defense options that are available to you.
Distressed Property Solutions Network is a group of professionals that have become consumer advocates throughout the foreclosure crisis. We were blessed to become a part of a growing movement that is doing what is right for homeowners. We have spent countless hours and interviews with every kind of professional from attorneys, accountants, tax advisers, realtors, mortgage auditors, and credit repair specialists to find a group that we felt were truly working for the people, not the benefit of the lenders.
There are very few attorneys around the country that have been retrained, researched and became true foreclosure defense attorneys. We were fortunate enough to find and select, a prime few and continue to look for more daily that we feel confident in referring our clients to.
Our Attorneys are the TOP foreclosure defenses attorneys in their field. They are fully prepared to defend your interests in court.
Foreclosure Defense Strategies
There are three main categories of foreclosure defense that property owners and attorneys can consider when they are defending a bank’s lawsuit against them.
Loan Documents validity
Depending on the laws involved, homeowners may be able to have the entire transaction rescinded if the original mortgage or deed of trust was not drafted or executed legitimately. In other cases, borrowers may question whether the lender suing them actually owns the note. If not, there is no real valid contract between the two parties.
Banks often violate state and federal law when creating mortgage, and if there is a defect in the paperwork or illegal clauses, the mortgage may not be valid.
The Lender does not follow the required procedures
There are numerous foreclosure rules that the mortgage lender or the trustee must follow. Oftentimes, the courts take for granted that these requirements are adequately followed by the mortgage lenders.
Procedural violations can be raised as a defense against foreclosure by the homeowners.
Misconduct by the mortgage lender and predatory lending do not have concrete definitions but a loan may be considered predatory based on numerous characteristics of it. For instance, the borrowers were approved with no income verification or were given an interest rate that the bank knew the owners would not be able to pay, there may be a defense against foreclosure based on misconduct. Also, if the appraisal was inflated and the bank knowingly accepted the unreasonably high value, and gave the owners a loan based on the value of the home instead of what they could actually afford, it may be a case of predatory lending.
That is why it is extremely important that you speak with one of our counselors or attorneys regarding your property situation today. Remember issues of foreclosure are very time sensitive in nature. Please call for your FREE consultation.