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.
Your original lender may sell your loan, in a package with others, at some point. This can get complicated, and previous lenders have begun foreclosure proceedings against homeowners whose loans they no longer hold. If you suspect this is happening to you, you should contact a lawyer to make the previous lender suing you prove ownership of the loan.
The active military has protection against foreclosures that is provided in the Servicemembers Civil Relief Act. Lenders are not allowed to begin proceeding against a soldier, who took out a loan prior to going on active duty, without a court order. A military family having issues with a lender should contact a lawyer familiar with this act.
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.
Your original lender may sell your loan, in a package with others, at some point. This can get complicated, and previous lenders have begun foreclosure proceedings against homeowners whose loans they no longer hold. If you suspect this is happening to you, you should contact a lawyer to make the previous lender suing you prove ownership of the loan.
The active military has protection against foreclosures that is provided in the Servicemembers Civil Relief Act. Lenders are not allowed to begin proceeding against a soldier, who took out a loan prior to going on active duty, without a court order. A military family having issues with a lender should contact a lawyer familiar with this act.
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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