A legal strategy in which a homeowner retains the services of an attorney to complete a forensic loan audit of all the documents associated with the mortgage. The attorney is looking for fraud and predatory lending violations that can then be used to aggressively counter sue the bank for damages. This process can typically take [...]
The legal process, in which the lender must use the court system to serve notice to the homeowner that they are accelerating the payoff of the note due to non-payment. The bank must follow a series of steps in order to get a judgment for foreclosure. Once the judgment has been entered the lender now [...]
Judicial foreclosures are processed through the courts, beginning with the Mortgagee/Lender filing a complaint and recording a notice of List Pen dens. The complaint will state what the debt is, and why the default should allow the Mortgagee/Lender to foreclose and take the property given as security for the loan. The homeowner will be served [...]
Non-judicial foreclosures are processed without court intervention, with the requirements for the foreclosure established by state statutes. When a loan default occurs, the homeowner will be mailed a default letter, and in many states, a Notice of Default will be recorded at approximately the same time. If the homeowner does not cure the default, a [...]
If you do nothing and just allow the Lender to take your home, then the court will simply allow the foreclosure to happen even if the lender does not have the proper paperwork to back up the foreclosure claim. In today’s complex lending environment, it is very challenging for lenders to track down the proper [...]
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