Sep 25, 2017

Posted by in Wrongful Foreclosure | 0 Comments

How do you defend yourself against wrongful foreclosure?

When a bank forecloses on your home illegally, homeowners are left with an extremely difficult decision to make: how do I go about defending myself and my property? Many people don’t know where to turn when they are facing an illegal foreclosure, and thousands of homeowners choose to do nothing, even though they have rights, because they wrongly assume that they cannot afford the legal fees.

Fortunately, it fighting a wrongful foreclosure may not cost you as much as you think. Many attorneys will work with their clients to establish a payment plan for their services, based estimates of how much time your case will take and what you can afford to pay. In some cases, if they win your case, your attorney may be able to recoup some or all of their fees from your financial institution.

What exactly is wrongful foreclosure? Many people understand that they may face foreclosure if they fail to make the required mortgage payments, but in some cases, the bank may be in the wrong. In the past, courts have overturned foreclosure proceedings against major banks like U.S. Bancorp and Wells Fargo because the bank couldn’t prove that they legally owned the mortgages to the people’s homes. Yes, the people owed the banks money, but if the banks were careless enough to not properly track ownership, the judge ruled that the homes could not be taken away. To learn more about this, read the entire article on CBS News.

According to the laws in the United States, people cannot lose their homes and property cannot be taken from them if the documentation used to do so is fraudulent, incomplete, or altered in any way. It is the responsibility of financial institutions to make sure that their documentation is in order, or else they may not be able to take action to seize the property from the homeowners in question. It makes perfect sense that property owners should be able to keep their homes if the bank does not have the adequate documentation to prove its case against them.

Regardless of the bank’s case, homeowners who are facing a wrongful foreclosure should make sure to hire an attorney. These matters are extremely complex, and it would be unwise to try to handle your claim by yourself (unless you are a wrongful foreclosure attorney). An attorney who understands the process, knows the tricks and tactics that the financial institution’s attorneys will use during the case, and who knows how to build a strong case on your behalf is essential. You don’t want to be the one who does all the “legwork”, on your case and if you try to handle it yourself, you may jeopardize your entire case. When it comes to potentially losing your home, it is best to let the professionals handle it and leave your case to an experienced attorney.

Ultimately, when it comes to protecting your home, it is essential to take whatever actions are necessary to save your home from being seized. Fortunately, there are legal options available to people, so you don’t simply have to let them come and take it from you, especially if the basis of their case is flawed.

 

 

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