Fight Home Foreclosure Smart

In your quest for knowledge, keep  mind that the entire court system is going to challenge you to have knowledge of the "Process of Filing, within acceptible Practices"

In the Quest to Stop Foreclosure, I am a believer that if you do not have the propensity for the law, you still can at least send a qualified letter for disclosure of who the actual lender is.  Ie: Holder in Due Coures or simply "who owns the note (or deed of trust) If after that you get confused, you will want to consider an attorney to guide you and/ or get an expert who will guide you through the possible mishaps that can happen in court, we have resources on our parent site.

Keep in mind, if the lender responds back to you you will have (in Judicial States) a hearing and you had better be prepared to defend yourself or you will be rail roaded, so to speak..

Below is an example of a legal approach that attorneys in the field and modification companies use to successfully bring a claim against a lender. The first step for you even if you just want to force your lender to negotiate a restructuring of Modification of your loan is:

Action Steps

    1. The attorney or modification obtains a forensic loan audit to determine the strength of the case.

    a. In the cases of a modification company if violations are found a certified opinion letter should be obtained in conjunction with the audit.

    2. The borrower’s representative should then send a qualified written request to the bank requesting the loan. The bank must provide a written response acknowledging receipt of the correspondence within 20 days. 12 U.S.C. § 2605(e)(1)(A) and (B).

    3. The borrower’s representative then presents their claim of violations within the loan to the lender.

    4. The Lender has 60 days from the qualified written request to weigh its possible potions and to take steps to actually fix any alleged violations through a workout agreement. 12 U.S.C. § (e)(2)(A), (B), and (C).

    5. If the lender does not fix the violations within 60 days, the borrower is entitled to bring a claim for any violations found in the loan.

    6. Upon a successful claim of lending violations against the lender, the borrower is entitled to damages based on the specific violations.

    a. Typically a borrower will always be entitled to actual damages, attorney fees, and statutory damages in the amount of $1000 per violation. 12 U.S.C. § 2605(a) Reg. X, 24 C.F.R. § 3500.21.

    b. In some cases borrowers will be entitled to three times the amount paid for settlement services, attorney fees, and costs.12 U.S.C. § 2607 Reg. X, 24 C.F.R. § 3500.14(b).

I know all of this looks confusing and technical, but it is the way things are and once again you had better be prepared, we have a publication available entitled 32 Ways to Stop Foreclosure that will give you much of the knowledge you will need, Please be prepared, This is serious business, but if done right you can own your home outright, or at least get your money back due to an illegal mortgage. The challenge in the battle to fight home foreclosure is not as hard as it seems, but there are legal protocols you will need to be familiar with. Don't ever quit, arm yourself with knowledge and YOU WILL PREVAIL!