Foreclosure Defense Wikipedia
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 12-24 months depending on the severity of the findings. On average over 80% of all residential loans since 2003 contain such violations. The worst case scenario the attorney is able to delay for the foreclosure 1-2 years while the homeowner is not making a mortgage payment. Allowing them time to get back on their feet and take a deep breath. The best scenario is that the attorney is able to delay the foreclosure process 1-2 years and settle with the lender for a reduction in principle, lower interest rate and in many cases a brand new loan. Every homeowner in foreclosure should have good legal representation.
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Filed Under: Definitions • Foreclosure
