The Top Two ways to save your home

The tide is beginning to turn for homeowners facing foreclosure. There is a new movement on the horizon that is revolutionizing how people save their home. It has been no secret that the banking and lending industry is hands down the most profitable business in the world.

The powers that be control the money and therefore control the governments that borrow that money. Some would argue that the current state of the economy was manufactured to its current state.

Regardless if you believe in the conspiracy theories the fact remains that millions of homeowners are facing foreclosure. Until now the little guy has had no voice when it came to taking on big business and Wall Street. The banks pockets have always been too deep.

Out of 100 homeowners in foreclosure in the United States only 5% of them will do anything at all to save their home. Meaning only 5 out of 100 homeowners will put up a fight to protect the place they raised their children.

Depending on the state in which you live, it could either be judicial or non judicial. If it is a judicial state then using a foreclosure defense attorney would be the way to go. It is possible that the attorney can and will delay a foreclosure for 2 years or more while the attorney litigates with your bank to get a loan restructure.

This is different than a modification from the stand point of part of the litigation is to do a forensic loan audit to uncover the fraudulent and predatory lending violation they bank has committed while structuring and funding the mortgage. Once the attorney has these violations in hand and has reviewed them the attorney will contact the bank attempting to foreclose and explain to them they need to back down or be prepared to be in for the fight of their life.

A good attorney will be bale to explain to the bank that a modification will not due and that the client wants a brand new mortgage based on the findings from the audit. Now the homeowner has the leverage and no longer the bank. In non judicial states such as California a bankruptcy can be used for Foreclosure Defense.

By getting the lender to affirm a debt is owed to them by the homeowner the attorney if properly trained can turn the tables on the bank by asking the lender to validate the debt and once they cannot holding them in contempt for filing a claim illegally. Often resulting in possible punitive damages and a new loan restructure.

There are a few groups out their promoting and educating homeowners on their rights and what they can do to fight back. Such as, www.loansafe.org and www.foreclosuredefense.com. Make sure the information you are getting is good and credible before making any decisions.

Filed Under: Foreclosure