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According to the Federal Deposit Insurance, roughly 250,000 families enter into foreclosure every three months. Foreclosure is often the result of delinquent home loan payments or delinquent property taxes. In the event of a bank foreclosure or a property tax foreclosure, the homeowner must decide if it’s worth the time and effort to fight against the foreclosure. If they decide to fight the foreclosure, they must then decide if hiring a foreclosure defense attorney to help them is the right move.
In some circumstances, it makes sense to contest the foreclosure without the help of a foreclosure defense attorney. For example, if the goal is simply to maintain occupancy in the home through the foreclosure process, the homeowner can usually do it alone. If you want to gain some extra time before the bank completes the foreclosure auction, it often makes sense for the homeowner to fight the foreclosure without foreclosure defense.
But just about anyone can benefit from the experience and skill of a foreclosure defense team. If you believe you have solid legal ground to contest the foreclosure, and you don’t want to leave your home, chances are good that will need to hire a foreclosure defense attorney to represent you. Here are a few reasons why it is wise to hire a foreclosure attorney.
Proper Foreclosure Procedures Weren’t Followed
During the foreclosure process, the individual(s) who are filing the foreclosure suit must follow strict guidelines as per the laws and procedures required by the state you are in. However, this is another area of the law that has loopholes and legal grey areas. A good foreclosure defense attorney will be abreast of all applicable laws and requirements in your state. In some cases, if the procedures were clearly not followed to the letter, it can lead to the foreclosure case being dismissed.
The Foreclosing Party Cannot Prove Ownership of Your Loan
If the party that is filing the foreclosure cannot prove conclusively that it owns your Mortgage or HOA loan, then that party has no legal grounds on which to finalize the foreclosure.
In the event that your mortgage loan was bundled and securitized, determining if the foreclosing party actually owns the loan can be challenging. If your defense is based on a reasonable assertion that the foreclosing party cannot conclusively prove ownership over your loan, a real estate attorney can help you navigate the red tape.
Loan Servicer Error
The companies that manage loan accounts are known as loan servicers. Sometimes, discrepancies can occur when managing homeowner accounts, usually due to incorrect information or human error. These discrepancies can include:
- Misapplying funds
- Failing to credit payments to the loan account
- Unreasonable fees
- Interest charged in error
Loan servicer payment histories are difficult to interpret for someone not familiar with current regulations and applicable laws. An attorney who is well-versed and skilled at reviewing these sorts of records can determine if the servicer has made a serious error with your account that could lead to the foreclosure case being dismissed.
Protect Your Homeowner Rights With Foreclosure Defense
Every foreclosure proceeding is different, and it is important to be abreast of your legal rights. Property laws vary from state to state, and each instance is often riddled with complicated nuances and loopholes that could make or break your case. Thus, a homeowner without legal representation might find it hard to fight effectively against foreclosure. However, knowing your homeowner rights is key, and a skilled attorney can help you navigate the loopholes and legal jargon involved with property law.
If you find yourself subject to an unjust or improper foreclosure or eviction proceeding in Houston or the surrounding area, contact the foreclosure defense attorney you can trust: Facing Foreclosure.