It is unfortunate that homeowners continually face wrongful foreclosure without proper procedures. A wrongful disclosure occurs when banks and money lenders initiate an illegal foreclosure when it is not backed up with any legal cause. If any bank takes your home, you have legal decisions that you can consider to stop them. Some of the common actions that money lenders do include:
When a homeowner has enough evidence for the wrong foreclosure, he or she may do one of the following:
In the case of a foreclosure, the homeowner is mandated to provide details to prove his or her case. To win compensation, the homeowner should prove that the lender breached the legal duty, and the breach resulted in damages and what the damages include. Once this has been proven, the debtor will be entitled to find the difference between the value before wrongful foreclosure and the remaining balance. This balance will be put towards the loan owed to reduce the homeowner’s debt. The borrower is also compensated for emotional distress if there is proof that the lender committed fraud.
Can an attorney help you?
Moneylenders can make debtors feel like the best solution to foreclosure is to sell. If you are not in a position to sell or don’t want to lose your house or property, the best decision is to consider negotiation. An attorney will help you in the negotiation with the moneylender. A good attorney can secure you an agreement for both parties involved in the dispute.
To avoid wrongful foreclosure, the homeowner/property owner needs to keep accurate records and communication with the lender.
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For information on foreclosure defense call us at (877) 399 2995. We offer litigation document review support, mortgage audit reports, securitization audit reports, affidavit of expert witness notarized, and more.
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