When the unexpected occurs, like illness, divorce, or job loss, a lender may give a delinquent homeowner some extra time to become current. It is not always so simple when the homeowner suspects the lender's loan servicer has made critical errors that result in an inaccurate payment history. Individuals can face foreclosures for no fault of their own. When something like this happens, it is time to get in touch with a foreclosure attorney Houston homeowners have used in the past.
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.
Every state has laws and regulations regarding the procedure for processing foreclosures. Lenders who don't follow those procedures can be vulnerable to litigation from homeowners. It may take an experienced lawyer, familiar with foreclosures law, to determine the seriousness of the lender's errors.
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.
The active military has protection against foreclosures that is provided in the Servicemembers Civil Relief Act. Lenders are not allowed to begin proceeding against a soldier, who took out a loan prior to going on active duty, without a court order. A military family having issues with a lender should contact a lawyer familiar with this act.
Sometimes lenders will continue a foreclosure proceeding at the same time they are reviewing a loan modification you have submitted in order to prevent the lender from foreclosing. This was common procedure in the past, but several years ago laws were passed to prevent the practice. Some servicers will also try to stall the modification process in order to pursue foreclosing. You need a good lawyer to sort through the laws that may apply.
Your home belongs to you until the process of foreclosing is complete. If you decide you want to stay in the home, you have a right to do so. It may take years to complete the process, especially in states with redemption rights. If the lender attempts to keep you from living in the house, by changing the locks for instance, a lawyer can stop the harassment.
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.
Every state has laws and regulations regarding the procedure for processing foreclosures. Lenders who don't follow those procedures can be vulnerable to litigation from homeowners. It may take an experienced lawyer, familiar with foreclosures law, to determine the seriousness of the lender's errors.
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.
The active military has protection against foreclosures that is provided in the Servicemembers Civil Relief Act. Lenders are not allowed to begin proceeding against a soldier, who took out a loan prior to going on active duty, without a court order. A military family having issues with a lender should contact a lawyer familiar with this act.
Sometimes lenders will continue a foreclosure proceeding at the same time they are reviewing a loan modification you have submitted in order to prevent the lender from foreclosing. This was common procedure in the past, but several years ago laws were passed to prevent the practice. Some servicers will also try to stall the modification process in order to pursue foreclosing. You need a good lawyer to sort through the laws that may apply.
Your home belongs to you until the process of foreclosing is complete. If you decide you want to stay in the home, you have a right to do so. It may take years to complete the process, especially in states with redemption rights. If the lender attempts to keep you from living in the house, by changing the locks for instance, a lawyer can stop the harassment.
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.
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