A home is a huge investment for most people. Sometimes illness, job loss and divorce can cause a homeowner to get behind on payments. Occasionally, some become victims of lender errors or malpractice that threatens ownership of their houses. Foreclosures can occur even when homeowners are current on their payments. If you suspect something like this is happening to you, contacting a foreclosure attorney Houston homeowners recommend is important.
When you send in your payment, you trust that the loan servicer will post it correctly. This doesn't always happen. Clerical errors are possible, especially when account numbers are similar. Some service companies charge outrageous, and often illegal, late fees that can cause homeowners to get even farther behind on their mortgages. Keeping up with your paperwork can make the difference between a successful claim and a failed one.
Lenders must go through a strict set of procedures before and during the process of foreclosing. If they don't follow the legal steps, you may have cause to block the procedure. Not every state has the same laws, so you will probably need a lawyer to sort through the rules and regulations.
Mortgage loans are sometimes sold in bundles to other lenders, who might then turn around and sell them to another institution. In the process, a lender might begin foreclosure proceedings on properties they no longer own. If you believe you are the victim of this kind of error, you need to contact a lawyer to make the lender prove ownership of your loan.
There are special rules when it comes to foreclosing on military personnel. A court order will be necessary for a lender to starting foreclosing on a military home if the loan in question was taken out prior to the vet's active service. The Servicemembers Civil Relief Act was enacted to protect the military and their immediate families.
Sometimes lenders will continue a foreclosure proceeding at the same time they are reviewing a loan modification you have submitted in order to prevent the lender from foreclosing. This was common procedure in the past, but several years ago laws were passed to prevent the practice. Some servicers will also try to stall the modification process in order to pursue foreclosing. You need a good lawyer to sort through the laws that may apply.
A lot of delinquent homeowners believe once the lender starts foreclosing, they have to leave the property. This is incorrect. Until the foreclosure proceedings are officially completed, the home is still yours. If you want to live there, you can. In some states, the rights of redemption laws make it possible for homeowners to live in foreclosed homes for years. You probably don't need a lawyer in this instance unless the lender attempts to remove you or changes the locks.
You do have rights and recourse if you are the victim of a lender's errors or illegal practices. In order to keep your home, you may have to retain the services of a good lawyer familiar with foreclosures. It will be worth the money though, if you end up keeping your home and family together.
When you send in your payment, you trust that the loan servicer will post it correctly. This doesn't always happen. Clerical errors are possible, especially when account numbers are similar. Some service companies charge outrageous, and often illegal, late fees that can cause homeowners to get even farther behind on their mortgages. Keeping up with your paperwork can make the difference between a successful claim and a failed one.
Lenders must go through a strict set of procedures before and during the process of foreclosing. If they don't follow the legal steps, you may have cause to block the procedure. Not every state has the same laws, so you will probably need a lawyer to sort through the rules and regulations.
Mortgage loans are sometimes sold in bundles to other lenders, who might then turn around and sell them to another institution. In the process, a lender might begin foreclosure proceedings on properties they no longer own. If you believe you are the victim of this kind of error, you need to contact a lawyer to make the lender prove ownership of your loan.
There are special rules when it comes to foreclosing on military personnel. A court order will be necessary for a lender to starting foreclosing on a military home if the loan in question was taken out prior to the vet's active service. The Servicemembers Civil Relief Act was enacted to protect the military and their immediate families.
Sometimes lenders will continue a foreclosure proceeding at the same time they are reviewing a loan modification you have submitted in order to prevent the lender from foreclosing. This was common procedure in the past, but several years ago laws were passed to prevent the practice. Some servicers will also try to stall the modification process in order to pursue foreclosing. You need a good lawyer to sort through the laws that may apply.
A lot of delinquent homeowners believe once the lender starts foreclosing, they have to leave the property. This is incorrect. Until the foreclosure proceedings are officially completed, the home is still yours. If you want to live there, you can. In some states, the rights of redemption laws make it possible for homeowners to live in foreclosed homes for years. You probably don't need a lawyer in this instance unless the lender attempts to remove you or changes the locks.
You do have rights and recourse if you are the victim of a lender's errors or illegal practices. In order to keep your home, you may have to retain the services of a good lawyer familiar with foreclosures. It will be worth the money though, if you end up keeping your home and family together.
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