Nobody wants to learn their home has gone into foreclosure. Sadly, this does happen to individuals and it may be due to circumstances beyond their control. Fortunately, with the help of a foreclosure defense law attorney in Wellington FL, a homeowner may find he or she is able to mount a defense and keep the home. Following are some ways a person might stop foreclosure proceedings with the help of an attorney.
The housing crisis started when lenders begin using improper methods to gain more clients. There were times when the lender failed to disclose the necessary information before providing a borrower with a mortgage or lied to ensure the transaction went through. A person may be able to use the lending practices to dispute the foreclosure under the Truth in Lending Act or TILA. An attorney can be of help in determining if this is the case.
Who Owns the Mortgage?
Ask any borrower and chances are the mortgage holder has changed multiple times over the life of the loan. In fact, the current lender may not be able to provide it even owns the loan at this time. The court will require the lender requesting the foreclosure to prove ownership by producing original documentation. If the lender is unable to do so, the foreclosure cannot go forward.
A lender must provide a 90-day pre-foreclosure notice to the borrower before the process can move forward. This period is designed to allow the borrower to catch up on the loan and no case can be filed by the plaintiff at this time. Two copies of this notice must be provided to the borrower and the notice must contain certain information to be valid. If the notice isn’t sent or doesn’t contain this information, the foreclosure process will be halted.
If you have received a foreclosure notice from your lender, contact a Foreclosure Defense Law Attorney in Wellington FL today. The attorney will examine the facts of the case and determine which defense is most likely to prove successful. To learn more about Law Offices of Sean I. Koplow and how the team can be of help, visit their site today. You need legal guidance at this time and the team is ready to be of assistance to you.
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