If a lender is foreclosing on your property, you may be overwhelmed by the possibility of losing your home. Fortunately, there are certain ways for your attorney to defend against the foreclosure.
One of the most common strategies is to apply for a loan modification. Mortgage companies are obligated to let you know if there are options for you to retain your home. If you have filed for a loan modification, your house cannot be foreclosed upon while you wait for the decision and you can appeal the decision if your modification is denied. Additionally, homeowners may be able to stop a foreclosure by paying off the mortgage or repurchase the property by paying a certain amount by a certain date.
You may also argue that the mortgage company did not provide you with adequate notice regarding the foreclosure or that the company did not properly follow the notice requirements. The mortgage company must also ensure that the complaint and summons were properly served on you as the debtor. If the service is improper or you were not served at all, the case may be dismissed.
In some cases, your mortgage company may have sold your loan to others, and may no longer be the owner of the mortgage. You can use this as a defense by showing that the company foreclosing on your home lacks standing.
Defending against foreclosure can be challenging, but there are ways to save your home. An attorney specializing in foreclosure defense can review your case and come up with effective defense strategies.